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Latest Agent Update available
Tax agents are working with HMRC on testing an online solution of the R40 claims process. The process will run 30 September 2013, and the participating agents are those with clients who have a claim for the tax year 2012/13, hold a valid National Insurance number and do not have PAYE income.
News of the trial is featured in issue 36 of Agent Update, HMRC’s bimonthly publication for tax advisers that includes topics raised under Working Together:
- The benefits in kind online form includes a link to an employer dispensation form, with the aim of encouraging employers to apply for a dispensation, if applicable, so they do not have to report certain expenses, and employees do not have to submit individual s 336 claims for a deduction against the same expenses. This will provide an added benefit of helping to mitigate employees’ coding issues that occur, because the P11D and the s 336 claim can be received at different times and processed separately.
- Bulk mail: around 6m taxpayers will get their June self assessment statement far closer to the date shown on the document. The Revenue will implement a new central print process by the end of July to improve the system for 30m to 35m mail items.
- Limited company subcontractors claiming back CIS deductions: following the publication of the updated repayment claims leaflet in April, HMRC are planning another workshop with senior representatives from the professional bodies to review the construction industry scheme (CIS) repayments leaflet and learn about advisers’ experience on this year’s process.
- Debt management: the Revenue will publish information clarifying its time-to-pay policy later this summer.
