Newsletter 80

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

MORE HMRC GUIDANCE ON THE EMPLOYMENT ALLOWANCE

The Employment Allowance of up to £2,000 is available to most employers from 6 April 2014. - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-80?viewunapprovedrecord=true#More

P11D FORMS DON’T GET THEM WRONG

HMRC have published a list of common errors in the completion of forms P11D and guidance that medical benefits for lower paid employees are not reportable. - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-80?viewunapprovedrecord=true#P11D

SHARED PARENTAL LEAVE

The current system of statutory pay and leave entitlements for employed parents is to be reformed for babies due (or adopted children placed) on or after 5 April 2015. - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-80?viewunapprovedrecord=true#Shared

ICEBREAKER TAX AVOIDANCE SCHEME REJECTED BY HMRC

In a high profile decision HMRC has won a case in which the Icebreaker partnership schemes were shut down, after the tribunal ruled it was set up to shelter more than £120m in tax. - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-80?viewunapprovedrecord=true#Icebreaker

PAY YOUR PAYE ON TIME OR FACE IN-YEAR INTEREST ON LATE PAYMENTS

HMRC have issued further guidance on late payment interest on PAYE and CIS payments for 2014/15 onwards and how to avoid it. - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-80?viewunapprovedrecord=true#Pay

VAT UPDATE AND FUEL SCALE CHARGES

HMRC have issued guidance on a number of VAT changes including confirmation of the updated VAT Fuel scale charges which apply from the beginning of the next prescribed VAT accounting period starting on or after 1 May 2014 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-80?viewunapprovedrecord=true#VAT

PROPOSED NEW RULES FOR EASIER PROSECUTION OF OFFSHORE TAX EVADERS

The government will consult on plans to introduce a new strict liability criminal offence for individuals who hide their money offshore. - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-80?viewunapprovedrecord=true#Proposed

LATE PAYMENTS TO SMALLER BUSINESSES ON THE INCREASE

According to a recent survey by the Forum of Private Business (FPB) almost one in four smaller businesses experienced an increase in the number of late payments during 2013. - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-80?viewunapprovedrecord=true#Late