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Following the changes to the residency rules there have been amendments to the reporting requirements for any employers who second employees into the UK for the short term. Despite the short term nature of these placements there is still a requirement to operate PAYE on earnings from day one unless the business has a STBVA in place.
HMRC have withdrawn their previous, more relaxed approach, that allowed employers to assess for themselves whether or not the PAYE exemption was applicable.
With effect from the 13/14 tax year onwards, where an employee is expected to be working in the UK for a UK company, or a UK branch of an overseas company, the employer must have a signed agreement in place with HMRC by 31 May 2014 to be able to exempt these payments from PAYE.
For this first year of the new regime employers have until 31 May 2014 to both apply for the STBVA and submit the required report. Going forward the STVA must be in place by the end of the end of the relevant tax year and the required report must then be submitted by 31 May following the end of the relevant tax year.
If you've had a PAYE tax enquiry from HMRC please click here to find out more about our services.
If you have any questions with regard to the STBVA requirements or its relevance to your business please contact Anne Eager (ae@rjp.co.uk).
I wanted to write and express our gratitude for your help and hard work in getting Probate through and settling all the taxes. I am so pleased that we selected RJP, as your professional help and updates throughout this process have been invaluable. If at any time in the future Probate assessment may be needed, you will be our first port of call. Once again, many thanks to the whole team.
Dan Cook, Probate clientI just wanted to drop you a short note to say how grateful I am for the support that RJP has provided over the past 4 weeks while our Financial Controller was away. I struggle to comprehend how much work your staff get through during their weekly visits and they are always a pleasure to have around the office.
I Evans, CFO, MoblicitiJust a quick e-mail from me to thank you for achieving the target for producing the draft accounts – it is very much appreciated and gives a first class impression of your firm. Many thanks.
J Stanfield, Chairman, BBS Actuaries LtdI would like to take this opportunity to thank you very much for the amazing job you have done navigating us through this whole process. My family and I also really appreciate the care and compassion demonstrated by you and your team in every dealing. Our thanks to everyone.
M Goldsmith, Probate ClientRJP provide our company with a complete service which takes the stress and strain away from the day to day running of our accounts! Their understanding of our business and their patience and advice is invaluable.
Outsourcing Client
If you sell a property and incur capital gains tax on the transaction, you will need to file a tax return and also pay any tax that is due within 60 days of completion, or penalties will arise. Need help with your property taxes? Talk to us.