There’s further information on using late reporting codes in the Late reporting reason section of the What Payroll Information to report guidance.
National Insurance
For National Insurance contributions, the payment must be treated as if it had been made at its regular time, if the actual and regular payment days are in the same tax year.
If the actual payment date and the regular payment date fall in different tax years the payment may also be treated as having been made at its regular time.
HMRC has updated the Employer Further Guide to PAYE and NICs CWG2 (2015) to reflect information for the 2015-16 tax year.
HMRC Basic PAYE Tools
4 March 2015
If you use HMRC’s Basic PAYE Tools you may need to install software again to receive updates for the 2015-16 tax year.
HMRC has added a message to GOV.UK to say that most existing users of HMRC's Basic PAYE Tools must download and install the software again to get updates for the 2015 to 2016 tax year. You won’t need to uninstall the current version.
Download HMRC's Basic PAYE Tools
Marriage allowance and self-employed
9 March 2015
As previously announced, the new marriage allowance comes into effect from 6 April 2015 and you can now register with HMRC. Full guidance is not yet available however we were asked whether or not an individual who is self-employed could claim it. The marriage allowance means a spouse or civil partner who doesn’t pay tax, or doesn’t pay tax above the basic rate of income tax, can transfer up to £1,060 of their personal tax-free allowance to a spouse or civil partner – as long as the recipient of the transfer doesn’t pay more than the basic rate of income tax. At a recent Employment Payroll Group (EPG) meeting it was confirmed by HMRC that someone who is self-employed and whose spouse/civil partner is not in employment, can transfer the £1,060 of their allowance.
This also applies to every other worker in employment who doesn’t pay above the basic rate of income tax, whose spouse/civil partner is not in employment.
Karen Thomson, CIPP Associate Director of Policy, Research, and Strategic Visibility and EPG Co-chair, has requested that HMRC provide further guidance on GOV.UK to reflect this.
Pension scheme benefits: independent advice for employees
19 March 2015
There is a new Income Tax exemption which will affect employers running a defined benefit to defined contribution pension scheme transfer exercise on or after 6 April 2015.
CIPP Policy News Journal
08/04/2015, Page 295 of 521
Made with FlippingBook - Online magazine maker