Accounting News - May 2013
HM Revenue & Customs (HMRC) has issued a new warning on the risks involved in the early accessing or unlocking of a pension.
The alert came on 23 April, as HMRC warned people with pension savings that they could be targeted by “unscrupulous firms” using misleading information, including offering personal loans or cash incentives to entice them into cashing in pension pots before the age of 55. more
Following the introduction of Real Time Information (RTI) reporting for PAYE, employers have been given new guidance on verifying or obtaining national insurance numbers.
HM Revenue & Customs (HMRC) issued the advice on 12 April after receiving a number of enquiries from employers experiencing difficulties. more
More penalties are on the way in May for taxpayers who have failed to submit their 2011-12 tax return online.
From 1 May, HM Revenue and Customs (HMRC) will charge a £10 daily penalty for each day an online return is late, up to a maximum of 90 days. more
The government has announced the new National Minimum Wage (NMW) rates that will take effect on 1 October. more
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