16 May 2024
May’s Agent Update has been published. The newsletter is great for payroll professionals to scan over monthly for any relevant payroll updates, sometimes ahead of the employer bulletin release.
The guidance contains developments and changes to UK tax legislation and allowances, including:
Tax
- Employment related securities (ERS) — end of year return deadline
- Investment Zone tax reliefs guidance
- Spotlight 64 — warning for employment agencies using umbrella companies
- The enhanced check your state pension forecast service is now available
- Subcontractor registrations and applications for Gross Payment Status
Making Tax Digital for Income Tax — take part in testing
Details of live consultations and links to responses, changes to HMRC service and guidance, including:
- Self Assessment threshold change
- Self Assessment exclusion document for individuals — updated
- Reminder — Strengthening the regulatory framework and improving registration consultation closes on 29 May 2024
- Using the payrolling benefits in kind service for agents
- Using the Agent Services Account to update contact details and Anti-Money Laundering information
- Support for customers who need extra help
- Tax agent toolkits
Agent online forum and engagement
Latest updates from the partnership between HMRC and the main agent representative bodies. Including:
- Authorising a tax agent — helpful hints and tips for completing the 64-8 form
- Agent online forum
- Contact information for professional and representative bodies
The next edition of the Agent Update is due in June 2024.
Information provided in this news article may be subject to change. Please make note of the date of publication to ensure that you are viewing up to date information.