Author: Lotus Accountancy

Functionality to allow employers to set up a recurring direct debit to pay PAYE and national insurance liabilities launches on 19 SeptemberThe August 2022 issue of HMRC’s Employer Bulletin announced that a variable payment plan for PAYE and NIC liabilities would be introduced from 19 September 2022. The current system allows only a single payment to be made by direct debit. HMRC has provided some further details about how the variable payment plan will work in practice.First, HMRC has confirmed that the direct debit amount will be the figure declared on returns…

HMRC has clarified that, with one exception, a CGT property return must be filed even if the disposal has already been reported on a self-assessment return. ICAEW’s Tax Faculty explains the rules and the impact on penalties. The government introduced the requirement to report disposals of UK residential property and pay the capital gains tax (CGT) arising within 60 (previously 30) days of completion on 6 April 2020. Non-residents are required to report the disposal of a wider group of assets, even if there is no gain. Many transactions…

HMRC has contacted those potentially eligible for the fourth Self-employment Income Support Scheme (SEISS) grant. Claims for the fourth SEISS grant will open over the next week. HMRC has written to each potential claimant giving them their personal claim date. We understand that these dates fall between 22 and 29 April; the phasing is to allow HMRC to manage demand. The date provided is the earliest date on which the taxpayer can apply; the portal will remain open until 1 June 2021. Those who believe they are eligible but…