HMRC PAYE update 131

HMRC have provided a further informal update on PAYE related matters for sharing. The update covers PDV application, Regulation 67CA, VAT, QROPS, update on Employee Benefit Trusts, Patent Box and CFC legislation, Compliance checks, how to confirm you NI number electronically, guidance on completion of Form C1454 and information on the new HMRC tracker.

START OF HMRC UPDATE

Updated PDV Application
PAYE Desktop Viewer (PDV) – required update for all users 
HM Revenue and Customs has updated the PDV application. All PDV users should download and install the new version of the PDV now to ensure that they can view the latest versions of these notices.

Regulation 67CA
Direction under regulation 67CA of the Income Tax (Pay As You Earn) Regulations 2003 (PDF 20K) 
This direction gives employers and banks technical details about how to fulfill their obligations under regulation 67CA and comes into effect from 1 September 2012.

VAT
Revenue & Customs Brief 27/12 VAT: Addressing borderline anomalies - guidance 
This Brief announces publication of guidance (in the form of 7 information sheets) on the changes to address VAT borderline anomalies announced at Budget 2012.

What is a car, commercial vehicle or motor home for VAT 
Updated table adding 3 new models.

VAT Notes 03/12 
HM Revenue & Customs (HMRC) publish VAT Notes quarterly. They contain a summary of all recent changes to the VAT rules and announce future changes.

Form VAT 426 
The form has been redesigned to make it easier to complete, as well as updating National Insolvency Unit address for sending completed form.

QROPS
Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 768K)
HM Revenue & Customs has published an update to the QROPS list.

Employee Benefit Trust - update
Employee Benefit Trust, (EBT) Settlement Opportunity - update
This update provides an overview of developments since April 2011 and a range of Frequently Asked Questions (FAQ) to help explain to customers more fully how their liabilities will be calculated.

Patent Box and Controlled Foreign Company (CFC) legislation
Patent Box roadshows
Roadshows of interest to accountancy firms representing smaller businesses that may be able to benefit from the Patent Box.

HMRC Compliance checks
Compliance checks factsheets 
HM Revenue & Customs has updated the factsheets to make it clearer how and why they carry out certain activities during a compliance check.

Confirmation of your National Insurance number
Emailing HM Revenue & Customs for written confirmation of your National Insurance number
HMRC has introduced an electronic version of form CA5403 so you can now email to ask for written confirmation of your National Insurance number.

Guidance on completion of Form C1454
Customs Information Paper (12) 42 (PDF 42K) 
Specific Guidance on the completion of Form C1454 (Approved Exporter application).

New HMRC Tracker advising when to expect a reply to an enquiry
Where's my reply 
Agents, employees and those paying tax on company pensions through Pay As You Earn can use a new tracker to find out when to expect to receive a reply to their enquiry from HM Revenue & Customs.

Technical Team

Posted in: News