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Real time reports amended
HMRC have made updates to the guidance for employers on reporting PAYE information in real time:
Real time reports amended
HMRC have made updates to the guidance for employers on reporting PAYE information in real time:
- “late reporting reason” can be entered on a full payment submission that will be sent late;
- being able to make the first 2014/15 PAYE submission any time after 6 March 2014;
- providing bank account details on an employer payment summary to get quicker repayments;
- new fields on an earlier year update (EYU) for 2013/14;
- new online appeals facility being introduced in 2014/15;
- more details about what counts as a reasonable excuse if a report is not filed on time; and
- information for employers exempt from filing or unable to file online
PAYE error
HMRC’s business tax dashboard is faulty for month eight for some PAYE schemes. Some employers may notice that payments made to the Revenue between 21 November 2013 and 16 January 2014 are not showing correctly. The problem arose because of an IT change on 21 November. HMRC will not pursue apparent debt relating to the issue. The department will correct the data for the affected schemes over the next few weeks.
Stock exchange
The market operated by The Channel Islands Securities Exchange Authority has been designated as a recognised stock exchange.
Housing associations
A new version of the framework for housing association partial exemption special methods can be found on HMRC’s website.
Caravans
Notice 701/20: Caravans and houseboats has been revised and replaces the April version. Details of the main changes can be found in paragraph 1.2 of the notice.
CFCs
Supplementary guidance on the interaction of CTA 2009, s 441 and the controlled foreign companies rules in TIOPA 2010, part 9A has been published.
Cyprus VAT
The VAT rate in Cyprus increased from 18% to 19% on 13 January.
Budget
The Treasury wants to know what taxpayers would like to see in the 2014 Budget. Businesses, charities and members of the public should email their views no later than 14 February.
