London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

New PAYE scheme

Just so you know, HMRC is planning to unveil the “biggest change to the way we process PAYE records in 25 years” in October of this year.

Under the scheme, the PAYE Service will bring together a dozen different databases covering information about individuals and, in theory, will be able to see at a glance what each person’s tax position is. At the moment, records are held with reference to employers so if, for example, someone has two jobs, their tax position is immediately complicated. HMRC says: “As a result of the change we will have a more comprehensive view of the individual’s PAYE and you will benefit from having fewer queries from both HMRC and your employees”.

The new system (called National Insurance Recording System 2) aims to make administration simpler – watch this space.

 

 

Date: 9th July, 2008
Author: Cathy Corns

SHARE THIS

Articles from this Author

Contact Business Service Partners

Choose from the drop down menu below to select a Partner to contact.

Tweet

Michael Lapham shortlisted in the Money Management Financial Planner Awards 2017 bit.ly/2fL8VXBtwitter.com/i/web/status/8…

#Farming trading as a #partnership potential #tax pitfalls and tips @mercerhole Phil Fenn insight shar.es/1SHZhc @accountancylive

Follow

LinkedIn

For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn