Welcome to our monthly newswire designed to keep you informed of the latest business and tax issues. Please contact us if you have any questions. Remember, we’re here to help.
Non statutory expenses
HMRC have introduced an optional system of ‘simpler income tax for smaller businesses’ for smaller unincorporated businesses.
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Gift Aid Small Donations Scheme
HMRC have published detailed guidance for charities and community amateur sports clubs on the new Gift Aid Small Donations Scheme.
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Government publishes ‘Supporting automatic enrolment’
Under Pensions Auto Enrolment employers will have to automatically enrol eligible workers in a qualifying pension scheme and make pension contributions for those employees.
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Single Compliance Process
HMRC have been trialling a new approach to enquiries, known as the Single Compliance Process.
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Tax return amnesty
HMRC have launched a tax return ‘amnesty’ for those individuals who have been issued with a self assessment tax return or notice to complete a tax return for any year up to 2011/12 and have not completed the return(s).
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Employee share ownership
The Department for Business, Innovation and Skills (BIS) has published some useful guidance on employee share ownership following the Nuttall review.
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Real Time Information and annual schemes
HMRC have received a number of requests since April 2013 from employers, asking for the status of their PAYE schemes to be changed to ‘annual’ which is only an option where employees are only paid once a year.
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HMRC announce latest taskforces
The latest targets in HMRC’s sights.
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