From 6 April 2015, employment agencies must return details of all workers they place with clients where they don't operate PAYE on the workers’ payments. The return is a report that must be sent to HMRC once every 3 months, using HMRC’s report template. The template and online service for submission of reports are now available. See HMRC’s updated guidance.
MOSS exchange rates
VAT Information Sheet 2/2015: VAT MOSS exchange rates contains common currency exchange rates for VAT mini one-stop shop (MOSS) businesses registered in the UK to use when making declarations and payments to HMRC in sterling for the period ending March 2015. VAT MOSS provides a way for businesses to register and account for VAT on digital supplies made to private consumers in the EU.
FATCA reporting update
According to HMRC, two recent changes made by the IRS will affect the FATCA reporting requirements for UK financial institutions:
nil returns are no longer required, as announced by the IRS in February; and
holding companies and relevant treasury companies will not need to report, as confirmed at Budget 2015 in connection with the UK’s International Tax Compliance Regulations, SI 2015/878.
The first FATCA reports are due on 31 May 2015.
HMRC guidance
The following has been published:
Updated guidance on the let property campaign, reflecting the new versions of HMRC’s calculators for declaring liabilities from up to 7 previous years (for careless omissions) or up to 19 years (for deliberate omissions). The let property campaign opened on 19 September 2013 and the guidance confirms that no closing date has been set. See www.bit.ly/1DqYHih.
Community amateur sports clubs: updated detailed guidance notes;
A note on the 2015 pension changes;
New company tax return form CT600 (2015) and guide;
Updates to the company taxation manual in relation to the treatment of close-company loans where there is unpaid share capital, following the 2014 FTT decision in RKW Ltd;
Updates to the PAYE manual to include social investment tax relief and pensions flexibility;
Updates to the tax compliance risk management manual;
Updates to the national insurance manual;
Updates to the COTAX manual;
Updates to the employment-related securities manual to reflect the new residence rules which provide for apportionment of share-based income received by internationally-mobile employees from 6 April 2015, as well as changes introduced by FA 2014 in relation to restricted securities.
From 6 April 2015, employment agencies must return details of all workers they place with clients where they don't operate PAYE on the workers’ payments. The return is a report that must be sent to HMRC once every 3 months, using HMRC’s report template. The template and online service for submission of reports are now available. See HMRC’s updated guidance.
MOSS exchange rates
VAT Information Sheet 2/2015: VAT MOSS exchange rates contains common currency exchange rates for VAT mini one-stop shop (MOSS) businesses registered in the UK to use when making declarations and payments to HMRC in sterling for the period ending March 2015. VAT MOSS provides a way for businesses to register and account for VAT on digital supplies made to private consumers in the EU.
FATCA reporting update
According to HMRC, two recent changes made by the IRS will affect the FATCA reporting requirements for UK financial institutions:
nil returns are no longer required, as announced by the IRS in February; and
holding companies and relevant treasury companies will not need to report, as confirmed at Budget 2015 in connection with the UK’s International Tax Compliance Regulations, SI 2015/878.
The first FATCA reports are due on 31 May 2015.
HMRC guidance
The following has been published:
Updated guidance on the let property campaign, reflecting the new versions of HMRC’s calculators for declaring liabilities from up to 7 previous years (for careless omissions) or up to 19 years (for deliberate omissions). The let property campaign opened on 19 September 2013 and the guidance confirms that no closing date has been set. See www.bit.ly/1DqYHih.
Community amateur sports clubs: updated detailed guidance notes;
A note on the 2015 pension changes;
New company tax return form CT600 (2015) and guide;
Updates to the company taxation manual in relation to the treatment of close-company loans where there is unpaid share capital, following the 2014 FTT decision in RKW Ltd;
Updates to the PAYE manual to include social investment tax relief and pensions flexibility;
Updates to the tax compliance risk management manual;
Updates to the national insurance manual;
Updates to the COTAX manual;
Updates to the employment-related securities manual to reflect the new residence rules which provide for apportionment of share-based income received by internationally-mobile employees from 6 April 2015, as well as changes introduced by FA 2014 in relation to restricted securities.
