HMRC are in the process of updating their generic notification service (GNS), with the aim of keep employers up to date with real-time information (RTI) requirements.
The first of the retooled messages for 2014/15 concerns late filing: employers will not necessarily receive a notification in every instance in which it occurs, and there is no need to contact the Revenue if an anticipated GNS message has not been received.
A look at the National Audit Office report on the landscape of tax breaks
End of year summary due by 19 April
Basics of the rules set to be introduced next year
Consequences for income tax when a new shareholder acquires nil or partly paid shares
N McLocklin (TC3182)
A woman wishes to buy a property in Florida. She and her husband are 50:50 shareholders of a limited company through which she carries on her trading business. The company is cash rich, so the client is considering a joint purchase of the property
A new scheme of tax-free childcare is scheduled to launch in autumn 2015 and rolled out within a year to all eligible families with children under 12, the government has announced. An earlier version of the set-up had the age limit at four years old.
The subsidy itself has also been increased, meaning parents will receive as much as £2,000 for each child: 20% support on care costs up to £10,000. The maximum amount proposed originally was £1,200.
RTI guidance updated
The new tax and National Insurance (NI) rules on offshore employment intermediaries will take effect from 6 April.
With regard to offshore intermediaries:
Download the Tolley Tax summary
Each Taxation writer provides a tetrad of analyses of the chancellor’s announcements