You can get help via YouTube. It has been such a popular subject this month that you might like to watch our Expenses and Benefits video.
If you are a new employer or thinking of becoming an employer, our video Getting Started as an Employer should be just what you need. If you have any questions about employing staff, you can ask them on Twitter @hmrcbusiness .
Tax gap reduced
17 October 2014
HM Revenue and Customs (HMRC) have published their estimate of the tax gap (tax which is due but not collected) for 2012-13, showing a further fall from the high levels published for earlier years. The HMRC report shows that the tax gap, which is the difference between the amount of tax due and the amount collected, was 6.8 per cent (or £34 billion) of total tax duties due during 2012-13. This shows a continued overall long-term downward trend from 8.5 per cent in 2005-6 – the first year the tax gap was compiled – to 6.6 per cent in 2011-12, rising marginally to 6.8 per cent in 2012-13. Over the seven years since 2005-06, the fall in the tax gap translates into an additional £43 billion in cumulative tax collected.
Looking at findings of particular relevance to payroll professionals, the report shows that:
The 2012-13 employers tax gap of £3.4 billion is equivalent to 1.5 per cent of employer PAYE liabilities, and The proportion of small and medium sized employers failing to correctly operate their PAYE scheme has decreased from 41 per cent in 2005-06 to 23 per cent in 2011-12.
A tax gap briefing , setting out more detail on why and how HMRC measure the tax gap, and how they will continue to tackle it in the future, has also been published.
Wealthy individuals and tax
23 October 2014
HMRC have published an interesting report explaining how they seek to ensure that wealthy individuals pay the tax that they should.
We are not sure how many readers of CIPP News are wealthy individuals within the HMRC definition, or maybe manage payrolls including such people. But the latest HMRC report should provide some reassurance to the rest of us that HMRC do pay close attention to these individuals and that their strategies are securing additional tax.
Publication of HMRC Charter Annual Report 2013-14
24 October 2014
The annual report on the HMRC Charter for 2013-14 has been published.
The Charter sets out clearly and simply what customers can expect in their dealings with HMRC, and the behaviours that HMRC in turn expects of them.
HMRC says that:
CIPP Policy News Journal
08/04/2015, Page 202 of 521
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