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Tax: Company and employee tax updates

01 September 2014

Regulations for employers and the implications of the Scottish referendum

New associated company regulations

The Corporation Tax (Instalment Payments) Amendment Regulations, SI 2014/2409, came into force on 1 October. These confirm that on or after 1 April 2015, the small profits rate of corporation tax and the marginal relief fraction will no longer apply. These regulations are needed to take account of the forthcoming unified 20% rate of corporation tax for all UK companies. A 52% group test will also replace the existing associated company rules.

In-year penalties

Employer businesses should take note that HMRC is now phasing in the in-year penalties for late submission under the real time information (RTI) PAYE regulations ...

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