Payroll update for April 2016

Sandy Adirondack’s Legal Update catches up with the tax, NI and other payroll changes which came in from April. This includes:

Scottish rate of income tax, in effect from 6 April, for individuals whose sole or main residence is in Scotland.

Tax and national insurance on expenses and benefits in kind see significant changes: abolition of the £8,500 threshold, a new statutory exemption for trivial benefits, exemption for qualifying expenses and benefits, and payrolling of expenses and benefits in kind. » Continue reading news item ... “Payroll update for April 2016”

PAYE returns must be on time from October

Accountants Sayer Vincent’s September newsletter (http://www.sayervincent.co.uk/publications/newsletters) points out that HM Revenue and Customs are tightening up on their requirements for RTI (real time information) returns of PAYE. Late filing after 5th October this year, even of a nil return, will attract a penalty, and from April 2015 these penalties will be automated and sent out quarterly.

HMRC information at http://www.hmrc.gov.uk/payerti/reporting/late-reporting.htm.