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The Queen, tax credits, statutory residence indicator, RTI and more

June 3, 2013

Welcome to the monthly newswire from

simpkins_edwards

designed to keep you informed of the latest business and tax issues.

RTI annual schemes and guidance on payment date
HMRC have issued guidance on Real Time Information (RTI) and annual schemes, including clarification of the requirements and operating annual PAYE schemes in real time.
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Statutory Residence Indicator
From 6 April 2013 the rules that determine whether an individual is resident in the UK for tax purposes have changed.
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HMRC gather extra £220m from high net worth individuals
HMRC have announced that their High Net Worth Unit, which deals with the tax affairs of 5,800 people with assets in excess of £20m, increased its yield from tax enquiries by 10% in 2012/13 to £220m.
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New Employee Shareholder Status finally law
After much debate the Growth and Infrastructure Act is now law.
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The Queen has announced the legislative programme
The Queen’s Speech set out the government’s legislative programme for the 2013/14 Parliamentary session including confirmation that the government plans to introduce an annual £2,000 National Insurance rebate for employers from April 2014.
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Tax credits renewals and scam emails
Tax credit customers are being reminded by HMRC that they must renew claims by the 31 July deadline or their payments may stop.
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Expenses and Benefits online forms
The forms P11D, and where appropriate P9D, which report benefits and expenses for both employees and directors for the year ended 5 April 2013, are due for submission to HMRC by 6 July 2013.
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