New PAYE fines introduced by HMRC
Limited company contractors, recruitment agencies and umbrella companies could be in line for a series of new PAYE penalties, which have been introduced by HMRC from the start of this tax year.
Limited company contractors, recruitment agencies and umbrella companies could be in line for a series of new PAYE penalties, which have been introduced by HMRC from the start of this tax year.
From 6th April 2010, new PAYE regulations mean that HMRC will accept the use of electronic P60s (also known as eP60s). This is great news for large employers, such as umbrella companies.
During their spring conference at the weekend, the Liberal Democrats announced that they want to see the income tax threshold raised to £10,000.
The Tory party is looking at ways to change the way employees pay NICs and income tax contributions. At present employers deduct these contributions at source and forward the monies to HMRC.