It’s that time of the month again as HMRC releases its latest very important Employer Bulletin to the community – the October issue.This useful update is vital to anybody in the payroll sector as it includes updates, important key focus areas and developments around areas of HMRC involvement.
The latest bulletin includes the following:
PAYE
- Reduction in the rate of National Insurance contributions and reversal of the Health and Social Care Levy — employer actions
- Making your PAYE Settlement Agreement payment
- Guidelines for Compliance — help with PAYE Settlement Agreement calculations
- Electronic payment deadline falls on a weekend
- Guidance for employers on reporting PAYE information in real time when payments are made early at Christmas
- Student loans
- Take advantage of the National Insurance holiday for employers of veterans
- New starter checklist interactive guidance goes live — helping customers get it right
- HMRC app and pre-employment checks
- How to reduce the number of P11Ds you fill in and send to us
Tax updates and changes to guidance
- New tax year basis will affect some sole traders and partners
- You must now file VAT Returns using Making Tax Digital-compatible software
- Change to VAT penalties and interest charges
- Decision tool and calculator for the 130% super-deduction and the 50% special rate capital allowances
- New powers for naming tax avoidance promoters
- Spotlight 60 – warning for agency workers and contractors employed by umbrella companies
The full bulletin can be found here:
