Posts From August, 2013

HMRC Finally Addresses RTI Misbalanced Submissions 

A RTI problem solving team has been set up by HMRC to investigate why in some cases there is a dispute over the amount of PAYE owed between payroll managers and the Revenue.

HMRC is currently unable to explain why the figure it expects from some companies differ from what the payroll departments think is owed - and the new Revenue team has been given the specific role of identifying the cause of the discrepancies.

In August, Simon Parson, head of compliance at Ceridian, said: "Having personally checked four separate HMRC Debt Management and Banking division claimed misbalanced PAYE scheme submissions from April through to June, it's clear to me that not all is well with RTI."

An HMRC spokesman explained that the Revenue is working with a number of schemes to understand the problems.

"This will enable us to understand the issue in greater depth, and take the steps necessary to prevent them arising in the first place. Each time we identify a root cause, we will update our guidance, where appropriate, as soon as possible," he said.

Posted by Gary Wilson Wednesday, August 28, 2013 9:17:00 AM Categories: News RTI

Working Families to Benefit from £1,200 Childcare Vouchers 

Tax-free childcare vouchers worth up to £1,200 are to be made available for familes by 2015, under plans proposed by the government.

The scheme will cover 20% of childcare costs up to £6,000 per year, per child, for any family with parents who earn less than £150,000 each.

Under the measures drawn up by the Treasury only parents of children born on or after September 2010 will be able to receive the vouchers, although Chancellor George Osborne explained that stay-at-home mohters would be excluded from the scheme because they had made a "lifestyle choice".

He said: "We want to make the new scheme work in the way that is best for parents, so today we are asking for their views, and I'd like as many parents as possible to tell us what they think."

Paul Bartlett, from the Childcare Voucher Providers Association, said: "The role of the employer in the current childcare voucher scheme has been a fundamental reason for its success. Ensuring there is a link between the new scheme and employers will help build on this success, and guarantee employers can still play an important role in helping their staff with their childcare costs."

HMRC and the Treasury have begun a 12-week consultation on the childcare vouchers scheme that will close on 14 October. Parents and other affected parties are invited to send their views on the measures to tax-free.childcare@hmrc.gsi.gov.uk  

Posted by Gary Wilson Wednesday, August 14, 2013 9:52:00 AM Categories: News

CIOT Calls for Payslip Lessons in School 

Schools should teach children about tax so they are able to read their payslips better as adults, according to experts.

The Chartered Institute of Taxation (CIOT) is calling on the government to include basic tax education in the national curriculum, stating that an understanding of financial matters should be a prerequisite for all British citizens.

CIOT president, Stephen Coleclough, said: "Most schoolchildren will one day become employees when they will need to understand a PAYE coding notice or payslip and to be able to identify when it is wrong. Many will go into business where tax is a key cost and administrative burden that cannot be ignored."

The tax group is calling on the Department for Education (DfE) to introduce lessons in schools on why tax is levied, its connection to UK politics, and understanding how to calculate it.

In response, a DfE spokesman, said: "The new national curriculum will make financial literacy complusory for the first time, as part of citizenship for 11 to 16 year olds. Pupils will be taught the importance of budgeting, of sound management of money, credit and debt, as well as understanding of different financial services and products.

"The new mathematics curriculum will also ensure that all young people leave school with an understanding of the maths needed for personal finance."

Posted by Gary Wilson Wednesday, August 14, 2013 9:43:00 AM Categories: News
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