RTI is a new way of reporting PAYE information. It will enable employers and pension providers to tell HMRC about payments to employees/pensioners as they are made rather than at the end of the tax year.
The Expenses and Benefits from Employment Toolkit and the National Insurance Contributions and Statutory Payments Toolkit have been updated and can be used for 2011/12 tax returns. Access the HMRC toolkits via the link on this page.
HMRC have announced an extension to its Alternative Dispute Resolution (ADR) Scheme, following a successful initial trial period.
The essence of the scheme is to offer an is for an "independent HMRC facilitator" to offer a mediation-based approach to resolving a tax disputes which arise during the course of a compliance check, before an assessment or appealable decision is issued. Its aim is to reach a quick and fair conclusion the dispute and to avoid the need for either party to take the case to Tax Tribunal.
From 1 March statutory instrument 2012 number 266 The enactment of extra-statutory concessions order 2012 comes into force. On the same date extra statutory concession (ESC) C16 is effectively withdrawn.
HMRC has announced that its latest campaign will target individuals and businesses who have income above the VAT threshold but who have not registered for VAT. This campaign will start in June/July 2011.
In Budget 2011, the government published a consultation paper on rebalancing the Northern Ireland economy, including looking at mechanisms for devolving the rate of corporation tax to Northern Ireland.