Problems with HMRC’s online P11D forms emerge
Employers must ensure that their P11D are filed by 6 July 2022. However, a problem has emerged with HMRC’s online forms. What’s going on?
The Institute of Chartered Accountants in England & Wales (ICAEW) has warned that employers that have provided their employees with electric vehicles that there are issues with HMRC’s automatic calculation of the taxable amount. The taxable amount for a company car is based on the list price and a relevant percentage that increases with higher emissions.
The issue appears to be that HMRC’s computation is applying a rate of 37% (the maximum) instead of the 1% that should apply to electric vehicles for 2021/22. Employers should urge employees to check their tax codes to ensure excessive amounts are not included. Unfortunately, the only way to remove the error is to call HMRC. There appears to be no issue where a paper return is filed, so it may be worth submitting paper forms for potentially affected employees this time round – but time is running out to do this.
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Submission of annual tax on enveloped dwellings ATED return
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Last date to file tax return before incurring £10 per day penalty
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HMRC writes to non-domiciled taxpayers following rule changes
HMRC has begun issuing “one-to-many” letters to individuals affected by recent changes to the tax rules for non-UK domiciled taxpayers. The letters prompt recipients to review their tax position under the new regime. What does this mean if you receive one?
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