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Budget 2014
The chancellor will deliver the next Budget on Wednesday 19 March 2014.
Budget 2014
The chancellor will deliver the next Budget on Wednesday 19 March 2014.
Fuel benefit rates for 2014/15
The secondary legislation setting the value of van benefit, car fuel benefit and van fuel benefit for 2014/15 has been published. The multiplier – used to calculate the cash equivalent of the benefit of car fuel received by an employee for private use – is increased from £21,100 to £21,700. The figure representing the cash equivalent of the benefit of a van received by an employee rises from £3,000 to £3,090, and van fuel benefit increases from £564 to £581.
PAYE
Employers need to have cleared funds in respect of their PAYE and National Insurance in HMRC’s bank account by 20 December if they pay electronically, because 22 December is a Sunday. Meanswhile, The Employer Further Guide to PAYE and NICs (CWG2(2013)) has been amended: pages 35,41,42 for National Insurance, page 50 for students, page 55 for employees going abroad.
BIM update
HMRC have amended their Business Income Manual (BIM). The update covers legislative changes, including the tax law rewrite, and introduces new chapters on the simpler income tax rules. It also addresses accountancy changes introduced by new UK generally accepted accounting practice.
MGD notice
A new edition of Notice 452: Machine Games Duty (MGD) is available. It cancels and replaces the June 2013 version. Details of changes are in paragraph 1.2.
