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Help for employers
HMRC have produced two helpsheets on getting ready for April 2014 and the tax year ahead. The first covers what employers need to do to get ready for their final 2013/14 submission and the start of 2014/15; the second looks at in-year interest charges being introduced from 6 April 2014.
Fuel scale charges
Businesses must use the new scales from the start of the next prescribed accounting period beginning on or after 1 May 2014.
Help for employers
HMRC have produced two helpsheets on getting ready for April 2014 and the tax year ahead. The first covers what employers need to do to get ready for their final 2013/14 submission and the start of 2014/15; the second looks at in-year interest charges being introduced from 6 April 2014.
Fuel scale charges
Businesses must use the new scales from the start of the next prescribed accounting period beginning on or after 1 May 2014.
Class 2 NI
Unpaid Class 2 National Insurance contributions will be collected through the taxpayer’s PAYE code from April 2014 or passed to a private debt collection agency for recovery. Taxpayers who prefer not to have the sum coded out, should pay the outstanding amount in full.
ATED
HMRC’s annual tax on enveloped dwellings (ATED) basics page has been updated to reflect the new charges for 2014/15.
VCTs
HMRC have published a note on the tax treatment of venture capital trusts (VCTs). The note does not represent a change in policy or in HMRC’s application of the conditions for VCT approval. Rather it is a summary of the existing guidance, published in response to requests for clarification of issues that have received recent media attention.
