Newsletter...
July 2011 - ENEWS
In this month’s enews we report on the late issue of taxpayer statements and penalty notifications. Please contact us if you would like any further detail on any of the issues.
- HMRC LATE ISSUING STATEMENTS
HMRC have advised that there are apparently more Self Assessment statements than usual to issue this year. Normally these would be issued in July but this year some will be issued later. The majority of statements have been sent on time. However, many taxpayers wait for the statement to confirm what they need to pay.........read more - TRIBUNAL CRITICISES HMRC FOR DELAY IN ISSUING PENALTIES
In a potentially wide-ranging case, HMRC have been criticised for deliberately issuing penalties for late forms P35 (Payroll end of year forms) several months late, which generated more penalties than were necessary. A summary of the case is reported below. This case has potentially wide ranging implications for other employers.........read more - ONLINE OLYMPICS ADVICE
Small and medium-sized companies hoping to win Olympics contracts are invited to take advantage of a free HMRC online advice seminar which is available to download by following the link..........read more - PAYMENTS COUNCIL TO KEEP CHEQUES
The Payments Council has announced that cheques will continue for as long as customers need them and the target for possible closure of cheque clearing in 2018 has been cancelled. This change is as a result of public concern about the proposed phasing out of cheques by 2018...........read more - HMRC TARGET BUSINESSES NOT REGISTERED FOR VAT
HMRC have launched a campaign aimed at VAT rule-breakers. As part of this campaign they have confirmed that they will be sending letters informing certain businesses how to register to pay what they owe. The campaign is focusing on individuals and businesses trading above the VAT turnover threshold of £73,000............read more - TAX CREDIT FRAUD
Following an HMRC investigation a West Midlands woman, Kerry Melia, a mother of six, has been send to prison for eight months for tax credit fraud. She wrongly claimed in excess of £62,000 in tax credits by fraudulently claiming for nine fictitious children. The woman first claimed tax credits for her five children in 2005 (she subsequently had another child).........read more - HOLIDAY ENTITLEMENT
With many thinking of their summer holidays, the Business Link website offers help in calculating minimum statutory entitlement. An employee’s holiday entitlement is generally set out in their contract of employment. The legal minimum entitlement is 5.6 weeks, which can include bank and public holidays............read more - REAL TIME INFORMATION
HMRC have issued some further guidance on Real Time Information (RTI) which may be useful to employers with regard to the introduction of RTI. RTI is a system of monthly/weekly PAYE returns which will replace the annual end of year forms. The new web page entitled...........read more
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