With over 1 in 3 marriages now ending in a divorce, more and more couples are thinking of entering into a pre-nuptial agreement than ever before. These agreements are usually associated with America or Europe but are becoming more common in the UK too. Now...
Employment Intermediaries - New HMRC Reporting Requirements
On 6 April 2015, the Income Tax (Pay As You Earn) (Amendment No 2) Regulations 2015 came into force. These aim to crack down on false self-employment and abuse of offshore working by introducing reporting and record-keeping requirements for employment intermediaries/recruitment agencies.
The Regulations require employment intermediaries to submit to HM Revenue and Customs (HMRC) a quarterly report detailing all workers placed with clients where the intermediary does not operate PAYE on the workers’ payments. The report must use the template provided by HMRC and be uploaded using the online service provided.
Intermediaries who only introduce workers to clients or supply workers to other intermediaries, and are not involved in any further arrangements having done so, do not need to submit a report.
Automatic penalties apply for failing to send a report and for sending a late report.
Further information on the requirements can be found here.