CHARITY ANNUAL RETURNS

The Charity Commission has published its analysis on annual returns consultation.

Coming out of the consultation will be additional questions and published responses including

·    Whether Trustees are remunerated in any way

·    Whether a charity is a member of the Fundraising Standards Board

·    Use of free text boxes to explain aims for the period and achievements

Full details at :    http://www.charitycommission.gov.uk

HMRC ANNOUNCE LATEST TARGETS

H M Revenue & Customs have recently announced the next batch of criteria which they will target for enquiry.

In the Midlands area they will be looking closely at any individuals with offshore accounts, any taxpayer who upon simple viewing appears to be living beyond their means and anyone dealing in second hand vehicles.

We understand that the last sector will be dealt with under the “Missing Trader” legislation and relates principally to individuals offering vehicles for sale at the roadside and not declaring the income as a trade.

If you are at all concerned with this or feel that you need advice on voluntary disclosure of income please contact us.

NEWSLETTER 72

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

ADVISORY FUEL RATES FOR COMPANY CARS

New company car advisory fuel rates have been published which took effect from 1 September 2013.

DATA PAYMENT CRACKDOWN

HMRC have announced that for the first time they now have access to information on all credit and debit card payments to UK businesses.

HMRC CHASE THOSE WHO HAVE MISSED RTI DEADLINES

HMRC are writing to the 167,000 employers who have missed one or more of the deadlines for reporting their PAYE information in real time.

UNIVERSAL CREDIT CRITICISED BY NAO

The implementation of the Government's welfare reform programme, Universal Credit, has been criticised in a report by the National Audit Office (NAO).

HSE GUIDANCE ON NEW FIRST AID TRAINING RULES

The Health and Safety Executive has issued guidance to help employers assess their first aid training needs and comply with amendments to the Health and Safety (First Aid) Regulations.

RTI ISSUE AFFECTING STUDENT LOAN BORROWERS

HMRC would like employers to be aware that they have identified an issue with some employees who have student loans.

HMRC ISSUE GUIDANCE ON THE STATUTORY RESIDENCE TEST

HMRC have issued some updated guidance on the Statutory Residence Test which took effect from 6 April 2013.

NATIONAL MINIMUM WAGE

National Minimum Wage rates increases come into effect on
1 October 2013.

DEADLINE FOR ‘PAPER’ SELF ASSESSMENT TAX RETURNS

For those individuals who have previously submitted ‘paper’ self assessment tax returns the deadline for the 2012/13 return is
31 October 2013.

LATEST JOB FIGURES

According to the latest information published by the ONS, employment rose by 80,000 and unemployment fell by 24,000 in the three months to July.

NEWSLETTER 71

Headlines from last month's newsletter.  Please click on any of the links below for more information :

PARENTS WITH HIGHER INCOMES MUST REGISTER FOR SELF ASSESSMENT

HMRC are reminding parents with higher incomes who continued to receive Child Benefit after January 2013 that they must register for Self Assessment by 5 October 2013 to avoid any penalties in relation to the High Income Child Benefit Charge.

PAYE RTI AND ANNUAL SCHEMES

HMRC are advising that they have now fixed the issue with Annual PAYE schemes.

PENSION ‘LIBERATION’

The ICAEW have issued a warning that individuals are being approached by firms offering to help them ‘unlock’ their pensions or access them early.

CONSULTATION ON TAX-FREE CHILDCARE FOR WORKING FAMILIES

Earlier this year the government announced that it plans to introduce a new childcare scheme for working families.

HMRC’S MOST WANTED TAX FUGITIVES

HMRC has published an updated list of their most wanted ‘tax fugitives’ and announced that a ‘fraudster’ has been apprehended at Heathrow Airport whilst travelling on a false passport, following almost ten years on the run.

A MILLION ZERO HOUR CONTRACTS

New research suggests that the number of workers on zero hour contracts, with no guarantee of hours or pay, are becoming more widespread.

HMRC INTRODUCE NEW SAFEGUARDS FOR DEBT COLLECTION VISITS

HMRC have introduced a Field Force Verification Helpline, so that taxpayers can easily check whether or not a caller on their doorstep claiming to be from HMRC is genuine.

WHAT HAPPENS WHEN MY COMPANY REACHES THE END OF ITS USEFUL LIFE?

We asked John Rimmer at BRI Business Recovery & Insolvency, who are regulated to deal with that area of business closures, for his thoughts.

PM RULES OUT TAX PLEDGES BUT SAYS HE IS 'LOW-TAX' CONSERVATIVE

David Cameron has refused to rule out tax rises after the next election, but said his goal is to "give people back some of their hard earned money" as the economy improves.

But speaking last month, the chancellor George Osborne said tax rises "were not required" to achieve future borrowing targets and they could be met solely by further cuts in spending

Full story http://www.bbc.co.uk/news/uk-politics-23395146

NEWSLETTER 70

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

NON STATUTORY EXPENSES

HMRC have introduced an optional system of ‘simpler income tax for smaller businesses’ which takes effect from April 2013 for smaller unincorporated businesses.

GIFT AID SMALL DONATIONS SCHEME

HMRC have published detailed guidance for charities and community amateur sports clubs (CASCs) on the new Gift Aid Small Donations Scheme (GASDS).

GOVERNMENT PUBLISHES 'SUPPORTING AUTOMATIC ENROLMENT'

Under Pensions Auto Enrolment employers will have to automatically enrol eligible workers in a qualifying pension scheme and make pension contributions for those employees.

SINGLE COMPLIANCE PROCESS

HMRC have been trialling a new approach to enquiries, known as the Single Compliance Process (SCP).

TAX RETURN AMNESTY

HMRC have launched a tax return ‘amnesty’ for those individuals who have been issued with a self assessment tax return or notice to complete a tax return for any year up to 2011/12 and have not completed the return(s).

EMPLOYEE SHARE OWNERSHIP

The Department for Business, Innovation and Skills (BIS) has published some useful guidance on employee share ownership following the Nuttall review.

REAL TIME INFORMATION AND ANNUAL SCHEMES

HMRC have received a number of requests since April 2013 from employers, asking for the status of their PAYE schemes to be changed to ‘annual’ which is only an option where employees are only paid once a year.

HMRC ANNOUNCE LATEST TASKFORCES

The latest targets in HMRC’s sights are tax dodger’s involved in:

• the holiday industry in Blackpool, Lake District, North Wales, Devon
   and Cornwall
• restaurants in Yorkshire and Humber
• road hauliers in the Midlands and
• the fishing industry in Scotland.

NEWSLETTER 69

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

REAL TIME INFORMATION AND PAYING HMRC

HMRC are reminding employers that they need to pay their PAYE liabilities ‘on time and in full’ although they are mindful that employers are still getting used to reporting under RTI.

ADVISORY FUEL RATES FOR COMPANY CARS

New company car advisory fuel rates have been published to take effect from 1 June 2013.

HMRC GUIDANCE FOR CHARITY SHOPS

HMRC have published new detailed guidance on claiming Gift Aid when goods are sold by, and the proceeds gifted to, charity shops.

HMRC ANNOUNCE EXTENSION TO RELAXATION ON RTI

HMRC have announced that they will extend the temporary relaxation of the new reporting rules for businesses with fewer than 50 employees from October 2013 until April 2014 and that this relaxation will come to an end at this point.

LATEST EMPLOYMENT AND PAY STATISTICS

The Office for National Statistics has announced the latest official labour market statistics.

NEW 0300 HELPLINE NUMBERS

HMRC have introduced new phone numbers for VAT, National Insurance, income tax and self assessment.

DOWNLOAD BASIC PAYE TOOLS

HMRC have updated their Basic PAYE Tools which is a software package designed to help those employers operating their own payroll.