Highlights from the broader tax news for the week ending 13 December 2023, including: HMRC’s PAYE and NIC calculator; crypto educational emails; feedback on HMRC’s Annual Report and Accounts; and the ABAB annual report.
Using HMRC’s PAYE and NIC calculator
Paragraph 1.7 of CWG2: further guide to PAYE and National Insurance contributions has been updated to refer to HMRC’s Tools to help employers ascertain the correct tax week or month when making a payment. The link provided in CWG2 is to all HMRC's calculators and tools. Users should narrow it down to the PAYE tax and NIC payroll calculator which is the one that is helpful.
Crypto educational emails
HMRC is sending educational emails to some holders of crypto assets reminding them of their tax obligations in respect of income and gains on their holdings. These emails also include information on using the newly opened service for taxpayers to voluntarily disclose any unpaid tax on cryptoassets, such as exchange tokens, non-fungible tokens, and utility tokens.
Feedback required on HMRC’s Annual Report and Accounts
HMRC publishes its Annual Report and Accounts each year in July on GOV.UK. HMRC wants to make sure the report is as helpful as possible to those who read it – and would like to hear from you. How do you use the Annual Report? Does it contain the information you need? Is it well presented and easy to read and find what you're looking for? How could it be improved? By taking a few minutes to complete this short form and give HMRC some feedback on its Annual Report and Accounts, you will help HMRC to make its performance reporting more accessible and effective.
ABAB annual report
The Administrative Burdens Advisory Board (ABAB) has published its annual report. The report describes the work done on the priority areas it had set. In 2023, the priorities were:
- management of making tax digital (MTD) programmes;
- customer experience;
- culture and capability for listening;
- ‘Tell ABAB’ survey;
- tax simplification.
ABAB also reports on additional work done in reaction to changing circumstances and priorities. The areas covered included: tax administration; HMRC’s Individuals and Small Business Compliance team (ISBC); the Single Customer Account programme; the Check Employment Status for Tax (CEST) tool; and the work of HMRC’s Futures and Innovation team.
ABAB’s priorities for 2024 are:
- MTD;
- tax simplification;
- customer experience;
- basis period reform;
- ‘Tell ABAB’ survey.
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