Week 53 and Provisional Tax, 50p Tax v ‘Mansion Tax’, UK National Minimum Wage, Jersey Minimum Wage, Office of Tax Simplification Reports, The Welfare Reform Act and RTI – The Earlier Year Update (EYU)Tuesday, March 13th, 2012
The Learn Centre has received more than a few queries over the last few weeks regarding the tax position caused by Week 53, 54 and 56 payments. The Leap Year, no doubt, has caused an increase in such situations this year. The first article in our Newsletter this week concerns this issue and how Week 53 may result in unexpected tax underpayments for your employees, which HMRC will seek to recover. We have undertaken research into the issue which is detailed together with HMRC’s responses and details of further queries we have raised with them.
With regard to the other articles in our Newsletter, there is a very fine line that can be drawn to distinguish between what we know as fact and what someone might say in an interview, a newspaper article or be pure speculation. In Payroll, one of the things that I like is the often black and white nature of the profession – something is either right or wrong, compliant or non-compliant, law or not law. Very often, there is no middle ground or room for interpretation.
This week, two items do fall into this middle category – one item represents the stated views of some influential people which may result in a legislative change or may be the forerunner of a change. The other is a newspaper report of something that probably will result in a change later in 2012. I believe both are newsworthy….
We apologise for the outage on the Payroll-Help website. You might have noticed that the site disappeared and was replaced by a message saying the domain had expired. This was not true. The domain is set to be renewed automatically but the hosting company that looks after the renewals didn’t do it properly. They have now corrected the issue but it will take some time until all of you can see the site correctly. You may need to clear the cache on your machine to speed up the process. If you have further difficulties please contact us.
We have deliberately held up this week’s newsletter until the site was fully visible again. Once again please accept our apologies for the inconvenience.