HMRC announcements for employers
The latest Employer Update issued by HMRC contains a number of pertinent articles which may be of interest to employers and employees:
Age Exception Certificates- HMRC will no longer issue age exception certificates to confirm that a person has reached State Pension age and therefore ceases to be liable to pay Class 1 NIC. HMRC advice is that employers will need sight of an employee’s birth certificate or passport as evidence of the person’s date of birth and retain a copy.
Automatic cancellation of PAYE schemes - from October 2013 if there has been no activity for a PAYE scheme, for example no RTI submissions, within 120 days of it being set up it will be automatically reviewed to see if it can be cancelled.
Employee shareholder status - HMRC is to offer employers the opportunity to apply for HMRC agreement (for tax purposes) to their share valuation which will hold for 60 days.
Internet link: To read more about these issues visit the HMRC website and search for Employer Bulletin 45. Please note this is a large pdf document.