Halliday’s have published their latest monthly newswire designed to keep you informed of the latest business and tax issues looking at issues including the changes to access pensions, HMRC collection of debt through tax codes and tax implications for office parties.
Pension flexibility
In Budget 2014 radical changes to the way individuals can access their pensions were announced.
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HMRC Credit Card Sales Campaign disclosure opportunity
HMRC have launched yet another disclosure opportunity this time aimed at undisclosed credit card sales.
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IR35 Business Entity Tests
The ‘IR35’ rules are designed to prevent the avoidance of tax and national insurance contributions through the use of personal service companies and partnerships.
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HMRC to collect more debt through tax codes
HMRC can currently collect debts of up to £3,000 by adjusting an individual’s Pay As You Earn (PAYE) tax code which applies to their employment or pensions income.
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VAT on ‘snowballs’
HMRC have published a Brief which advises that ‘snowballs’ are zero rated for VAT purposes.
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Acas guidance on new shared parental leave rules
Acas have issued a new guide to help employers and employees to understand the practicalities of the Shared Parental Leave (SPL) Regulations.
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Parties for employees
With the season for workplace parties fast approaching we thought it would be a good idea to remind you of the tax implications of these type of events.
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2012/13 tax gap
HMRC have announced the latest tax gap figures.
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