Archive:September 2023

Please find below all the articles from September 2023.

Welcome IZENR (aka National Insurance Relief in Investment Zones)

Friday, September 1, 2023

An initialism that will soon fall smoothly from our tongues is IZENR, HMRC’s description of Investment Zone Employer NICs Relief. This applies in payroll systems from April 2024 and introduces 4 new category letters.

The now infamous 23 September 2023
Growth Plan
introduced us to Investment Zones in England, areas to provide ‘time-limited tax reliefs‘ and ‘planning liberalisation to support employment, investment, and home ownership‘.
The UK Government, via Kwasi Kwarteng as Chancellor of the Exchequer,said itwould work with the devolved nations on similar Zones to ensure they…

Employer Bulletin August 2023 – an Error Corrected

Friday, September 1, 2023

On 16 August 2023, the bi-monthly Employer Bulletin
was published by HMRC.Employers and agents recognise the importance of the information contained in this and frequently register to get notification of publication. This is admirable,
as the Bulletin contained some useful information including:

– The tax relief mechanisms for pension schemes
(Relief at Source and Net Pay Arrangement), frequently confused and this article stresses the importance of correctly identifying and applying which is relevant
– Advice on the Real Time Information (RTI) processes to…

Outstanding Post – HMRC Extends its Trial

Friday, September 1, 2023

Only last month we reported that HMRC had expanded its Agent Account Manager
(AAM) team and remit. From 10 July 2023, providing an agent is registered
, the expanded remit allows them to look at POSTAL queries outstanding for 12 months or more.This was set to last for a trial period only.

At a recent Representative Body Steering Group
meeting with professional bodies, HMRC confirmed this trial will be extended indefinitely.
Therefore, given this positive news from HMRC, it is worth repeating these important points before…

HMRC Close One Helpline – But Re-open Another

Friday, September 1, 2023

Closing

There have been many Covid-19 support schemes, administered by HMRC, for example:

– Eat Out to Help Out payments
– The Self-Employment Income Support Scheme (SEISS)
– Test and trace or self-isolation payments (in England, Scotland and Wales)
– Coronavirus Business Support Grants

– The Coronavirus Statutory Sick Pay Rebate scheme, not forgetting
– The Coronavirus Job Retention Scheme (CJRS)

Professionals rely on HMRC’s guidance and support, as these are also amongst the payments and grants that need to be
reported on the company tax return…