A JOINT BODY of accounting institutes has released updated guidance on real-time PAYE for tax practitioners.
Representatives of the ACCA, ATT, CIoT, ICAEW and ICAS have drawn up changes to letters of engagement and payroll services advice in order to help practitioners prepare for the shift to the new system.
In particular, guidance pertaining to the cancellation of contracts and consumer protection was also amended.
Real-time information, to be rolled out nationally from April, will see PAYE reported on or before the date payment is made, while changes to a person’s circumstances will be made straight away rather than at the end of the financial year.
The amended guidance is available here.
A short moratorium will give struggling companies a chance to be open with their creditors and negotiate a way out of their problems transparently, says Sykes
Phillip Gershuny, senior tax partner at Hogan Lovells, outlines how a European exit could affect UK taxes
Brexit could hit UK GDP by as much as 3% by 2020, the international economic body has claimed
London accountancy firm Blick Rothenberg warns of potential damages VAT changes could cause UK businesses