HMRC Agent update
HMRC have released the latest bi-monthly issue of the ‘Agent Update’ publication that includes summaries of recent changes and updates that have been announced. The document, which is aimed at taxation and accountancy practitioners, includes links to more detailed information on each of thetopics covered.
The topics covered in the latest edition include the following:
- Corporation tax – online filing
- Offshore accounts – new penalties for non-compliance from 6 April 2011
- New construction industry scheme security checks introduced
- HMRC powers to tackle excise fraud to be strengthened from April 2011
- PAYE late payment penalties
- Pensions – late filing for pension scheme returns
- Self-assessment – paying tax at the 50% rate
- VAT – standard rate increased to 20% from 4 January 2011
- Three new toolkits published
- New services provided by agent account managers
- Details of changes to HMRC manuals
- HMRC mail handling changes to be introduced from March 2011
- Legislation and consultation update
The complete document can be accessed from the HMRC website at the following address:www.hmrc.gov.uk/agents/update22.pdf