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.
Companies must report on their complex financial structures including offshore accounts and notify HMRC
An examination by the Public Accounts Committee (PAC) has revealed serious concerns relating to HMRC’s plans
The mornings after the night that was the British Accountancy Awards; and Andrew Tyrie's latest thoughts on Making Tax Digital timing
Andrew Tyrie suggests there will not be enough time to implement Making Tax Digital (MTD) by April 2018