12 Dec 2010

HM Revenue and Customs (HMRC) has announced that, in future, there will be just a single telephone point of contact for employee tax enquiries. The number is 0845 300 0627. Employers as well as employees can use this number if there are issues with employee tax codes. But for any other enquiries related to the running of a payroll, employers should continue to call the Employer Helpli...

05 Nov 2010

Next year's Budget will be delivered on 23 March. The date was announced by the Chancellor, George Osborne as he was giving evidence to the House of Commons Treasury Select Committee on the consequences of October's Comprehensive Spending Review. Mr Osborne told the MPs: "You can put that in your diary." The announcement is unusual in recent years in that it gives months rather than w...

05 Oct 2010

Taxpayers are being reminded that the date for submitting a paper self-assessment tax return is looming. The cut-off point for paper returns is 31 October. Last year, some 2,467,000 people submitted self-assessment tax returns in paper format. Of those, 2,143,000 (87 per cent) managed to meet the deadline. Late returns could mean a £100 penalty. However, HM Revenue and Customs (HMRC)...

22 Sep 2010

Employers are being reminded that new national minimum wage rates will be coming into force in October. There is also a new rule affecting 21-year-olds. As from 1 October, employees will no longer have to be aged 22 to become eligible for the top hourly minimum wage adult rate. The new rates are: £5.93 per hour for low paid workers aged 21 and over, up from £5.80; £4.92 per hour for 1...

03 Sep 2010

Employers have little time remaining in which to share their views with HM Revenue and Customs (HMRC) on possible changes to the PAYE system. The government is looking to update the system and to reduce admin costs for businesses, and is seeking input from employers. However, the consultation is due to close on 23 September. Launching the consultation, David Gauke, the Treasury Secret...

26 Aug 2010

HM Revenue and Customs (HMRC) has announced that 180 websites that send scam emails to taxpayers have been shut down over the past three months. The "phishing" emails promise recipients a tax refund in return for details of their bank accounts and other personal information. The promise is, in fact, bogus, and the criminals use the details they cull from the scam either to empty vic...

26 Jul 2010

The Treasury has issued nine consultation papers on various aspects of the personal and business tax system in what amounts to a far-reaching overhaul of the entire regime. The papers are asking for views on, among other topics, a reform of the PAYE system, pensions tax relief and inheritance tax. Announcing the consultations, David Gauke, the Treasury Secretary, said: "We want to m...

07 Jul 2010

HM Revenue and Customs (HMRC) has reminded businesses of changes to the rules on VAT which mean that many must now file returns and make payments online. Under the new rules, existing VAT-registered businesses with annual turnovers of £100,000 or more (excluding VAT), and any businesses which registered for VAT from 1 April 2010, must now file their VAT returns online and make their VAT...

12 May 2010

Employers and employees are being reminded that there could be some errors with the new PAYE tax codes that have been issued by HM Revenue and Customs (HMRC). As a result, employees should check their April and May payslips to see if they are paying the correct amount of tax. This may be reflected in any unexpected change to the amount of money they receive in wages. Worries emerged e...