HMRC issue October ‘Employer Bulletin’

HMRC have issued the latest Employer Bulletin – ‘Your route to the latest in payroll news‘. In general, these bulletins contain lots of useful information to help employers meet their payroll obligations, such as updates on forthcoming changes to the rules and guidance in dealing with particular payroll issues.

This edition includes tips to help submit your RTI payroll data in HMRC in a timely and accurate manner. The article also highlights the potential difficult interaction with universal credit – employers should be aware that submitting your payroll data after payday may result in delayed payments to universal credit claimants and subsequent cash-flow problems. This can be found on page 3.

This bulletin also highlights the student loan plan 1 and plan 2 threshold increase that is due to apply on 6 April 2018. Plan 1 loan thresholds are to rise from £17,775 to £18,330 and Plan 2 loans from £21,000 to £25,000. Further details can be found on page 4.

On page 6, there is an update from The Pensions Regulator (TPR) regarding new employer workplace pension duties and auto-enrolment. Every employer in the UK must auto enrol certain staff into a workplace pension and contribute to it – it is a legal duty. The bulletin provides more information including a link to the TPR’s duties checker, a five minute online tool to find out what tasks you need to complete and by when.

Other topics in this edition, include:

  • Valuation of Benefits in Kind
  • Changes to Business Tax Account for employers
  • Paying HMRC
  • Construction Industry Scheme
  • Apprenticeships benefit for business
  • New support service launched for mid-sized businesses
  • Digitisation of the VAT Retails Export Scheme

The bulletin is well worth a read as it is the main way HMRC communicate with employers on a regular basis. It can be found on GOV.UK.