NEWSLETTER 66

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

PERSONAL ALLOWANCE UP TO £10,000 FROM 2014/15

It has been confirmed in the Budget that the basic personal allowance will be increased from the current £8,105 to £9,440 for 2013/14

NATIONAL INSURANCE - £2,000 EMPLOYMENT ALLOWANCE

The Government will introduce an allowance of £2,000 per year for all businesses and charities to be offset against their employer Class 1 NIC liability from April 2014

NEW SCHEME FOR TAX FREE CHILDCARE

New tax incentives for childcare have been announced.   To be eligible, families will have to have all parents in work, with each earning less than £150,000 a year and not already receiving support through Tax Credits or Universal Credit

SUPPORT FOR THE HOUSING MARKET

Major reforms have been announced in Budget 2013, including over £5.4 billion of financial help

RTI ‘RELAXATION’ FOR SMALL EMPLOYERS

HMRC have announced that, for some smaller employers, they will relax the reporting requirement for RTI that payments to employees should be reported on or before the amount is paid to the employee

ADVISORY FUEL RATES FOR COMPANY CARS

Updated company car advisory fuel rates have been published which took effect from 1 March 2013

EMPLOYER END OF YEAR FORMS

HMRC are reminding employers that in order to avoid penalties they must file the Employer Annual Return (P35 and P14s) online and on time

REMINDER TO THOSE WITH CHILD BENEFIT AND HIGHER INCOMES

HMRC are reminding people with income over £60,000 whose family is still receiving Child Benefit to consider ‘opting out’ before 28 March if they wish to avoid filling in a tax return and repaying the benefit for the 2013/14 tax year

HMRC PUBLISH NAMES OF DELIBERATE DEFAULTERS

For the first time, HMRC have published a list of ‘deliberate tax defaulters’

ANOTHER HMRC DISCLOSURE FACILITY

HMRC have launched the Property Sales campaign, which is the latest in a long line of disclosure facilities