Home Newsletter Archive
- Informing HMRC of a change of name or address06 September, 2010
- HMRC have launched a new service which allows taxpayers to notify a change of address or name. The new service is for individuals only, not for businesses and cannot be used if you have registered for the SA online service or are leaving the UK. The service works by way of an online form which needs to be completed in order to notify HMRC of a change in details. In order to verify a taxpayer's identity the following information must be provided to HMRC: email address full name, including any middle name(s) National Insurance number date of birth present full postal address - and previous address if you are telling HMRC about a change of address contact telephone number There is a also a list of acceptable proof's of identity, one of which will be required by HMRC to validate an applicant's identity as well as specific requirements depending on whether the application is for a change of name or change of address. HMRC provide the following list of which records (if applicable) will be update...
- Making VAT payments by cheque06 September, 2010
- HMRC have issued an important reminder to businesses that continue to make VAT payments by cheque. In April 2010 HMRC changed the way they treat receipt of VAT payments by cheque. The change means that the payment date is no longer the day on which the cheque is received but the date on which the cleared funds reach HMRC’s bank account. A cheque typically takes three working days to clear and the cleared funds must be in HMRC’s bank account by the deadline for submission of a VAT return. Businesses that file VAT returns online must now make payments electronically. However, smaller businesses that continue to submit paper VAT returns must ensure that cheque payments are sent in good time to clear before the VAT return due date in order to avoid late payment penalties.
- That HMRC 'blunder', P800 letters and ESC A1906 September, 2010
- As has been widely reported in the mainstream press, HMRC are currently writing to taxpayers who have paid the incorrect amount of tax through the PAYE system in 2008-09 and/or 2009/10. Contrary to the views of some commentators there has been no new 'blunder' or 'error'. The PAYE system only ensures that employees pay exactly the right amount of tax every year if they have no benefits in kind, do not change their jobs during the year and have no other sources of income. For all other employees the PAYE system invariably results in under or overpayments of tax each year. In most cases these are resolved through an adjustment to the notice of coding in a later year. This year HMRC have used a new computer program to perform their annual reconciliation faster than usual. The new system has also enabled them to identify how many taxpayers are affected - thought to be approximately 5.7 million taxpayers. Of this number around 4.3 million are thought to be entitled to a tax refund and 1.4 million...
- Updated edition of employer CD-ROM06 September, 2010
- An updated edition of the 2010 Employer CD-ROM has been issued and should be used instead of the earlier edition released in February. The updated edition has been designed to ensure compatibility with the new 'Basic PAYE Tools' which will become available next year. The new tools will replace the Employer CD-ROM and HMRC will no longer send out paper employer annual pack and employer CD-ROMs to finalise 2010-11 and start 2011-12. The tools will include: The Employer Database All the calculators Forms to fill in from the database Learning modules Employers can confirm that the update has been successful by checking the home page and confirming that the top right hand corner shows 'September Updated Edition'.
- Paying income tax by direct debit02 September, 2010
- HMRC has posted a warning about a problem in its system which may affect you if you have authorised them to charge direct debits to settle your income tax liabilities. Online amendments to monthly direct debit plans should only be made between the 1st and the 23rd of the month. HMRC is aware of a fault which can stop an amendment made in the final week of the month reaching the taxpayer’s bank. The fault will be fixed and full service restored in April 2011.