Employees

HMRC hopes to replace class 1 with 2 and 4

Employees are allowed to claim an authorised mileage rate for business journeys and a higher rate is paid for the first 10,000 miles a year

Companies that offer HMRC-approved employee share schemes must complete the relevant returns by 8 July 2013.

The deadline for sending the enterprise management incentive annual return is 6 July 2013 – which is also the cut-off date for submissions of form 42 by employers with unapproved schemes who experienced reportable events in 2012/13.

S Manley (TC2517)

Speculating about another enterprising move by HMRC to maximise income from Class 1 National Insurance contributions

Employers still expected to meet May deadline

Dr A Gayen (TC2556)

HMRC’s Employment Income Manual states that “PAYE is not generally due on a non-transferable store gift voucher.” However, this does not mean no income tax will be due

The original director of a business is now over the retirement age and he is under pressure from a new director and co-shareholder to retire. A compensatory payment of £30,000 has been mentioned

The Office of Tax Simplification’s proposals for pruning unapproved share schemes

Employers and tax agents can now report end-of-year expenses and benefits electronically, using a new set of online forms. The service is likely to be most useful for small and medium-sized employers when submitting their employees’ expenses and benefits information, said HMRC.

Only two forms are available – with an equivalent for agents to use on behalf of clients – but more are planned. Web users can access currently:

HMRC claim to class 4 liability “on shaky foundations”, says Baker Tilly partner