Agent Update 52 published

The latest Agent Update (tinyurl.com/au52feb) covers recent news consultations and announcements from HMRC including the following.

Employers

On 1 April 2016 the national living wage will become law. The government is asking businesses to:

• note the minimum rate of pay is £7.20 an hour for staff aged 25 and over;
• find out which staff are eligible for the new rate;
• update the company payroll in time for 1 April 2016; and
• communicate the changes to staff as soon as possible.

Employers of eligible apprentices will no longer have to pay employer class 1 National Insurance on their earnings up to the new apprentice upper secondary threshold. For 2016/17 this will be £43 000. HMRC has published guidance for employers on how to apply the new rate correctly.

Self assessment

Clients will receive self-assessment paper tax returns by the end...