HMRC’s Agent Update issue 96 (May 2022) brings together the latest technical updates and reminders, including the following:
Social security co-ordination: arrangements which allowed HMRC to disregard changes to individuals’ work locations caused solely by coronavirus-related restrictions for NICs purposes, will end on 30 June 2022. From 1 July 2022, HMRC will consider all changes to work location under the standard social security co-ordination rules when deciding whether UK social security legislation applies and whether NICs are due in the UK.
Reporting rules for digital platforms: following its consultation on the OECD Model Reporting rules for digital platforms, the UK government has announced that the new rules will start from 1 January 2024, with collection of information starting from January 2024 and submission of the first reports due by the end of January 2025. The rules had previously been expected to come into force from January 2023 at the earliest.
Disguised remuneration tax avoidance schemes – settlement opportunities: the Update highlights HMRC’s recent briefing documents which explain how people can settle their use of disguised remuneration avoidance schemes and/or pay the loan charge, and also the separate remuneration trust settlement opportunity.
Electronic sales suppression (ESS): HMRC highlights the new powers and penalties to tackle ESS, introduced in Finance Act 2022, noting that voluntary disclosures can be made via the Contractual Disclosure Facility.
HMRC’s Agent Update issue 96 (May 2022) brings together the latest technical updates and reminders, including the following:
Social security co-ordination: arrangements which allowed HMRC to disregard changes to individuals’ work locations caused solely by coronavirus-related restrictions for NICs purposes, will end on 30 June 2022. From 1 July 2022, HMRC will consider all changes to work location under the standard social security co-ordination rules when deciding whether UK social security legislation applies and whether NICs are due in the UK.
Reporting rules for digital platforms: following its consultation on the OECD Model Reporting rules for digital platforms, the UK government has announced that the new rules will start from 1 January 2024, with collection of information starting from January 2024 and submission of the first reports due by the end of January 2025. The rules had previously been expected to come into force from January 2023 at the earliest.
Disguised remuneration tax avoidance schemes – settlement opportunities: the Update highlights HMRC’s recent briefing documents which explain how people can settle their use of disguised remuneration avoidance schemes and/or pay the loan charge, and also the separate remuneration trust settlement opportunity.
Electronic sales suppression (ESS): HMRC highlights the new powers and penalties to tackle ESS, introduced in Finance Act 2022, noting that voluntary disclosures can be made via the Contractual Disclosure Facility.
