PAYE related bits n bobs 26 June 2012

June 26, 2012 2012

pencils variation

In the absence of any groundbreaking news or Tribunal judgements recently, we finish off this month's blogs with a very brief overview of some things that have maybe not been newsworthy on their own but are useful things to know collectively.

Salary sacrifice guidance

HMRC has recently amended their FAQs on salary sacrifice to accommodate the relaxation of the rules around the opting in/out of pensions salary sacrifice so that salary sacrifice can happily co-exist with the pensions auto enrolment rules.

Whilst we would never recommend that HMRC's guidance is taken as "gospel", these FAQs are worth a read if you're unfamiliar with HMRC requirements around salary sacrifice.

Changes to the NI Manual

A number of pages were withdrawn from the NI Manual last week, all of which related to the NI exemptions around "qualifying childcare" for employees receiving employer supported childcare.

There is nothing sinister about these changes though, HMRC are just revising the guidance so that it is up to date and accurately reflects the revised legislation which came into place on 6 April 2011 around the reliefs that are due for new childcare arrangements.

Share based payments guidance

Yet more revised guidance from HMRC, this time what employers need to do when share based payments are made to departing employees after the P45 has been completed.

This has came about following some confusion from both employers and HMRC on the treatment of payments involving a mixture of cash and shares.

By the time some employers (and HMRC) get to grips with this, it will be time to worry about the situation under RTI where some real fun and games will be happening !

P11D and PSA filing

As Sir Alex Ferguson once infamously said, it's getting to "squeaky bum time" for getting the P11Ds and PAYE Settlement Agreements off to HMRC by the deadline of 6 July. He didn't exactly say this in relation to P11Ds and whatever but you get our drift !!

If you are one of those employers that didn't realise the deadline is next week, or has never seen a reminder from HMRC that the time is nigh, you really need to get moving, and fast, otherwise the 'squeak' could develop into something much worse !

Medical professionals

Reports are coming out, e.g. this Guardian article from a few days ago, that HMRC are currently investigating more than a 1,000 medical professions who are suspected of under declaring tax on income following the tax 'amnesty' that was offered to the sector a while back.

Whether these reports are valid, or whether HMRC has the evidence and gumption, to follow through successfully in some of these cases remains to be seen. There is usually no smoke without fire though so any medical person who thinks they may be "in trouble" needs to pick up the phone to an advisor ASAP.

Okay, next stop July. Hopefully the summer weather will eventually come out next month, before it's time for Autumn. Cool

 

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