Latest payroll news
HMRC have released their latest Employer Bulletin (Issue 67). The bulletin is well worth a read as it is the main way HMRC communicate with employers on a regular basis.
This edition contains information about the importance of reporting your PAYE information correctly and on time and gives you some suggestions as to how to do this on page 2.
In the bulletin, HMRC confirm that have decided to continue with the risk-based approach to PAYE penalties for the tax year beginning 6 April 2017. They will continue to focus on penalising those who deliberately and persistently fail to meet statutory deadlines, rather than those who make occasional and genuine errors for which other responses might be more appropriate. You will find further information about this on page 4.
On page 7, HMRC highlight that the October electronic payment deadline (22nd) falls on a Sunday, meaning you need to ensure that any funds have reached HMRC by the 20th unless you are able to arrange a Faster Payment to clear on the 22nd.
Other topics in this edition, include:
- Optional Remuneration Arrangements
- Tax codes – Get it right first time
- PAYE Settlement Agreements
- Expenses Exemption
- Apprenticeship Levy
- Construction Industry Scheme
- Changes to Business Tax Account
- Contacting HMRC
- Keep up to date with changes
- Automatic enrolment and ongoing duties – what employers need to know
- GCSE exam results are coming out this month, what is changing?
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. The full Employer Bulletin can be found on the GOV.UK website.