May 1
The rules on tax relief for pensions were changed not that long ago and may have affected a number of clients. Well, they look set to change again, to reduce the annual allowance (AA) to £40,000 and the standard lifetime allowance to £1.25m from 2014/15 onwards. Read more
Further to our blog in March regarding the payment of owner-managers, HMRC have issued guidance on RTI and annual schemes, including clarification of the requirements and operating annual PAYE schemes in real time (www.hmrc.gov.uk/news/rti-annual-schemes.htm) . Amazingly, HMRC are currently unable to process requests from employers to move to paying annually and register as an annual scheme or change their payment. Read more
