18 April 2024
On Tax Administration and Maintenance Day, HM Revenue and Customs (HMRC) unveiled plans to introduce a new reporting requirement for employers claiming National Insurance relief in Freeport and Investment Zone tax sites.
The draft regulations and consultation propose an FPS reporting change that will require employers to provide the workplace postcode where the employee is expected to complete at least 60% of their working time. HMRC expects this will encourage employers to check eligibility at the point of making a claim and will support HMRC in data driven compliance activity, reducing the need to contact employers.
The consultation asks:
Question 1: Do the amendments meet the stated policy aims?
Question 2: Will these changes cause any reporting difficulties for Freeport and Investment Zone employers who claim these NICs reliefs and their agents?
Question 3: Will these changes produce any other consequences for Freeport and Investment Zone employers who claim these NICs reliefs and their agents, or for payroll software developers?
Feedback is required to be submitted to HMRC by 11:59pm on 15 May 2024.
The CIPP will be responding to this consultation, if you have any feedback that will assist us with this, please do provide it via the ‘Have your say’ box on our news pages. Start your message with “Freeports postcode” so we know what your comment relates to.
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.