R Brown (TC3118)
An employee was loaned £250,000 by an employee benefit trust, ostensibly to purchase an investment property. On that basis, no P11D was prepared, but it has now come to light that £50,000 was retained as savings
HMRC’s fixation with non-payroll labour and false self-employment
The taxman’s powers to withhold repayments
Crownfold Ltd (TC3079)
Seghill Rugby Football Club (TC3078)
John Mander Pension Scheme Trustees Ltd v CRC, Court of Appeal
Employees with outstanding class 2 National Insurance contributions (NICs) from previous years may find the debt included in their PAYE code for 2014/15.
HMRC can collect overdue NICs by adjusting a taxpayer’s code, starting from April. Notices of coding will be issued between January and March.
Those with class 2 debts will have received a letter from the tax authority earlier in the year to request payment and warn that the sum could be recouped through the taxpayer’s PAYE code from April 2014 or passed to a private debt collection agency for recovery.
Who pays what when considering settlor-interested discretionary trusts, and who is repaid what?
False self-employment is again being targeted. Advisers should respond to the latest HMRC consultation
Recent changes to the employment-related securities guidance
Special rules apply under the IR35 regime if intermediaries were unable to finalise timely calculation of deemed end-of-year payments to PAYE and National Insurance (NI) contributions.
Intermediaries have until 31 January to submit amended returns showing the final figures and to pay any additional amount, provided a payment on account of the estimated tax and NI for 2012/13 was made by 19 April 2013, supported by a P35 showing provisional figures.
Interest will then be levied on late payments made after 19 April 2013, but no penalties will be charged if: