74 posts categorised "HRS - Employment tax"

21 November 2014

HMRC’s Personal tax summaries – greater transparency for workers

What are they? The Government has announced it is sending annual personal tax summaries to over 24 million people across the UK. The statements will show people how much income tax and national insurance contributions (NIC) they have paid over the 2013/14 tax year, and how this is calculated, together...

06 November 2014

EVENT: Tax Risk and Governance - Know Your Customer

Date: Tuesday 9th December 2014 Timings: 8.00am - arrival and light breakfast; 8.30am - presentations and questions; 10.30am - finish Location: PwC, Cornwall Court, 19 Cornwall Street, Birmingham B3 2DT Our forthcoming Tax Risk and Governance seminar will explore the changing landscape for Employment Taxes and specifically the Senior Accounting...

25 June 2014

Onshore Employment Intermediaries: False Self Employment

New legislation affecting unintended targets…. how does it affect your business? New legislation came into place from 6 April 2014 following the recent HMRC consultation ’Onshore Employment Intermediaries: False Self Employment’. The issue Whilst the legislation was introduced to prevent the use of employment intermediaries engaging workers and avoiding paying...

11 June 2014

Auto Enrolment in the spotlight - does your solution stand up?

The Pensions Regulator (tPR) is actively targeting employers for non-compliance with the Auto Enrolment (AE) legislation and has now begun to name non compliant employers. As at 31 March 2014 tPR has carried out 590 investigations and has issued several warning letters and formal notices for non-compliance. One area that...

21 May 2014

Deadline looming for employer compliance tax returns

May is a very important time of year for employer compliance, with a number of returns due to HMRC in the next few months. Below is a snapshot of the key reporting requirements following the end of the 2013/14 UK tax year (6 April 2013 - 5 April 2014). Share...

01 May 2014

Risky business: identifying your potential people-related risks

We’ve all read stories in the papers about bullying in the workplace and absenteeism, where often the focus is on the ‘victims’. But the consequences of not managing these types of risks are potentially severe for the organisations involved. People-related risks can be particularly difficult for a large company to...

17 April 2014

On your marks, get set, start...your Form 42

It’s that time of year again when HM Revenue & Customs (HMRC) will ask you to provide them with details of any shares or awards which have been given to your employees over the last tax year. It is not just shares that are reported, you must also include share...

07 April 2014

HMRC plans to get to know its customers

After a period of relative quiet HMRC is now showing increased interest in Employer Compliance matters focusing on the operation of the employment taxes and the provision of benefits. Latest figures show that Income Tax and National Insurance now account for 49% of the Government’s revenues and a recent PwC...

26 March 2014

Are you ready to register your share plans?

HM Revenue & Customs (HMRC) will now be asking companies to provide information on their existing and new share plans via the PAYE Online service on HMRCs website by 6 July 2015. In addition, HMRC will not provide formal approval for new tax favoured share plan arrangements; instead you will...

24 March 2014

Budget 2014: key outcomes for employers and employees

The Chancellor has delivered the 2014 Budget. The focus understandably was on supporting the recovery with a big emphasis on encouraging saving and making pensions more attractive. There were also some announcements around employee and expatriate tax, as well as other reward issues. 1. Pensions: Significant changes announced to pensions...

12 February 2014

Simplifying Tax for Expenses and Benefits

Taxable benefits generate more than £3.3 billion of tax and NICs for the Exchequer each year, but that requires the completion and submission of over 4.4 million P11Ds and a great deal of administration and effort on behalf of employers. Every day I speak to organisations of all sizes and...

16 January 2014

Increased Employer Compliance Reviews - are you compliant?

In the Chancellor's Autumn Statement he announced that the Treasury expects to raise an additional £9 billion over the next five years from increased HMRC compliance activity. Given that last year Employment Taxes accounted for 49% of all the taxes collected by HMRC in the UK, it is perhaps not...

06 January 2014

Managing the cost and risk of holiday pay

A recent Employment Tribunal decided that holiday pay should be calculated on more than simply basic pay only and that employers should be taking into account payments for overtime and shift premia when calculating holiday pay. Whilst this decision is being appealed, the decision, if upheld, will result in significant...

24 July 2013

PwC comments on key Supreme Court ruling on pension payouts after company collapses

Today the Supreme Court determined that Financial Support Directions (FSDs) imposed against UK companies in relation to defined benefit pension schemes will rank as an unsecured creditor in UK administrations. FSDs can be issued by the Pensions Regulator to ensure companies as part of a group provide financial support to...

19 July 2013

Hourglass issue 28: Putting HR at the centre of your people strategy

In this edition we’re focusing on the many different aspects of performance management. Download Hourglass-issue28[1] We ask how HR can get the best from people, and what the most appropriate methods for achieving this are – whether it’s a formal, objective-setting programme, or a more entrepreneurial, mentoring approach. On page...

17 July 2013

Rising sick bill is costing UK business £29bn a year

Sick days are costing UK business nearly £29bn a year as UK workers take more than four times as many days off work due to sickness as their global counterparts, according to new research by PwC. UK workers have an average of 9.1 days off from their jobs each year...

04 July 2013

Introducing Skyval - PwC launches revolutionary online pensions analysis platform

PwC has launched Skyval, a new pensions risk analytics tool that allows companies and trustees to manage, monitor and take decisions about their pensions issues in a quicker and more informed way. Skyval models pension scheme assets and liabilities accurately in real time and has been developed exclusively by PwC...

02 July 2013

Commission withdraws solvency aspects of EU Pensions Directive

Key issues and deadlines EC backed down on solvency reserving, but will push ahead with Pillars 2 and 3 – target Autumn for initial legislation Reporting requirements expected to be more frequent The proposed EU Pensions Directive consists of three “pillars” analogous to the Solvency II Directive for insurers. These...

Defined benefit pensions – more support for employers

Key issues and deadlines New statutory objective means more backing from regulator No change to statutory legislation on funding Make the most of existing flexibility on funding The indications are that UK employers can expect more support from the regulator and will have a stronger negotiating position with trustees. This...

01 July 2013

Auto-enrolment - time to take stock

Key issues and deadlines Opt-out rates lower than expected –so could have cost impact Pensions regulator to publish monthly registration reports Most large UK employers are now subject to the new requirement to auto-enrol employees into a suitable pension scheme. Although it is still early days, experience is beginning to...