NEWSLETTER 64

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

EMPLOYMENT RIGHTS - STATUTORY LIMITS

The limit on the amount of the compensatory award for unfair dismissal is set to increase from 1 February 2013.

HMRC TARGET THOSE WITH OUTSTANDING VAT RETURNS

HMRC have introduced the VAT Outstanding Returns Campaign, which is an opportunity for taxpayers to bring their VAT returns and payments up to date.

‘TAX CHEATS’ SENTENCED TO OVER 150 YEARS BEHIND BARS

HMRC have announced that the top ‘tax criminals’ of 2012 have been sentenced to a combined total of 155 years and 10 months behind bars.

PAYE CODING NOTICES

HMRC are issuing PAYE tax codes for 2013/14.

RTI IS COMING

HMRC are urging employers to get ready for major PAYE changes that come into effect from April 2013.

START UP LOAN SCHEME FOR YOUNG ENTREPRENEURS EXTENDED

David Cameron has announced a boost to the government’s Start-Up Loans Scheme, with funding being increased by £30 million to £110 million over three years.

STATE PENSION REFORM

The government have announced proposals for a new single tier pension.

CHILD BENEFIT OPT OUT

The High Income Child Benefit Charge (HICBC) was introduced from 7 January 2013. It mainly applies to a taxpayer who has ‘adjusted net income’ in excess of £50,000, where either they or their partner is in receipt of Child Benefit.

DEADLINE LOOMING FOR SELF ASSESSMENT RETURNS

HMRC are reminding taxpayers that the countdown has begun to the 31 January 2013 self assessment deadline, with just days left for anyone with an outstanding 2011/12 tax return to send it online.

HMRC BANK ACCOUNT DETAILS FOR EMPLOYERS

HMRC have updated their guidance to employers on paying PAYE liabilities.