Administrators can report transfers of sums and assets from UK-registered pension schemes to qualifying recognised overseas pension schemes (QROPS) using the online service launched in December.
But some schemes, including retirement annuity contracts and executive pension plans that were approved before 6 April 2006, have no pension scheme tax reference code that can be used to gain online access, meaning administrators need to first digitally register each scheme before reporting transfers.
RTI guidance updated
HMRC have fixed a problem with their business tax dashboard that caused employment records to merge on the department’s systems.
The error hit some firms that employed a work to do more than one job within the same PAYE scheme, and resulted in erroneous consolidation of the separate employments.
Affected accounts were incorrect on the business tax dashboard – but the Revenue has updated the employer records, which will be displayed as follows:
HMRC are set to introduce enhanced functionality to their toolkits as part of the department’s annual maintenance cycle to review and refresh content.
The move follows requests by tax agents for means to complete the checklist section for a client and then have the option to save it electronically or print it.
The first two toolkits to be upgraded will be those that cover expenses and benefits from employment and National Insurance contributions and statutory payments. Both are due to be published on 6 April.
Peebles Baptist Church (TC3204)
A client made payments into a seed enterprise investment scheme and an enterprise investment scheme in 2012/13 and 2013/14. No certificates were received in time for submission of the 2012/13 tax return
HMRC tackled record levels of online fraud in the run-up to last month’s self assessment deadline, the department has revealed.
Taxpayers reported 23,247 incidents of phishing o the Revenue during the three months to 31 January: an increase of 47% on the same period a year earlier. As a result, the department closed 178 web sources of bogus emails offering tax refunds during January 2014, marking year-on-year growth of 274%
The taxman was alerted to more than 91,000 incidents of phishing during the whole of 2013 and put a stop to 1,476 sites.
S Varma (TC3147)
HMRC have warned of another problem with their business tax dashboard, following the recent month eight error.
The latest error means the dashboard is not showing the correct liability position for tax months nine and ten of some PAYE schemes. Employers may find they are being told they owe more tax than expected for the affected months.
Michael Young Plumbing & Heating Engineers Ltd (TC3090)
HMRC are planning to ramp up their online solutions through a recruitment drive in the north-east.
The department plans to hire more than 50 specialists to build digital services that will make tax affairs simpler, clearer and faster for people and businesses to manage.
The Revenue intends for staff and technology suppliers to work together in a new centre in the Newcastle area – an upcoming region for digital talent – to identify the needs of taxpayers, test new services with real users, and improve existing offerings.
Interim report plans to patch up “fiscal footwear”