Bank Payroll Tax – new guidance
HMRC have updated their Bank Payroll Tax Manual and have also provided guidance on how to submit bank payroll tax returns.
HMRC’s statutory notice contains a comprehensive list of the information which must be included in bank payroll tax returns. The notice also includes submission details for the return, which can either be sent by post to HM Revenue & Customs, BPT Team, 22 Kingsway, London, WC2B 6NR or by email to the BPT.Team@hmrc.gsi.gov.uk. There are a number of conditions to be satisfied in order to submit the return by email including notifying the BPT team by 11 August 2010 and including a security declaration in accordance with text published by HMRC.
The notice also includes specific details as to how to make payment of bank payroll tax including the conditions for making composite payments relating to two or more taxable companies within a banking group.