NEWSLETTER 68

Headlines from our latest newsletter.  Please click on any of the links below for more information :

RETENTION OF TITLE

We have been contacted recently by several clients who have encountered problems regarding this subject, particularly when a customer becomes insolvent and wants their goods back.
   
RTI ANNUAL SCHEMES AND GUIDANCE ON PAYMENT DATE

HMRC have issued guidance on RTI and annual schemes, including clarification of the requirements and operating annual PAYE schemes in real time.      

STATUTORY RESIDENCE INDICATOR

From 6 April 2013 the rules that determine whether an individual is resident in the UK for tax purposes have changed. These rules are known as the Statutory Residence Test (SRT).      

HMRC GATHER EXTRA £220M FROM HIGH NET WORTH INDIVIDUALS

HMRC have announced that their High Net Worth Unit, which deals with the tax affairs of 5,800 people with assets in excess of £20m, increased its yield from tax enquiries by 10% in 2012/13 to £220m.      

NEW EMPLOYEE SHAREHOLDER STATUS FINALLY LAW

After much debate the Growth and Infrastructure Act is now law.      

THE QUEEN HAS ANNOUNCED THE LEGISLATIVE PROGRAMME

The Queen's Speech set out the government's legislative programme for the 2013/14 Parliamentary session including confirmation that the government plans to introduce an annual £2,000 National Insurance rebate for employers from April 2014.

TAX CREDITS RENEWALS AND SCAM EMAILS

Tax credit customers are being reminded by HMRC that they must renew claims by the 31 July deadline or their payments may stop.

EXPENSES AND BENEFITS ONLINE FORMS

The forms P11D, and where appropriate P9D, which report benefits and expenses for both employees and directors for the year ended 5 April 2013, are due for submission to HMRC by 6 July 2013.