Bringing you a round up of all the latest and most significant employment tax news

HMRC given powers to tax code small debts

From April 2012 HMRC will be able to collect debts up to the value of £2,999 by amending the tax code of individuals in PAYE employment or receiving a UK-based pension.

The first PAYE coding notices to include these changes will be issued from January 2012. A self-assessment debt or tax credit overpayment will be described on the P2 Annual Coding Notice as ‘outstanding debt’ with a note to say whether this is SA tax, a tax credit overpayment or both.

HMRC began sending letters to selected SA debtors from August 2011, and to tax credit claimants with outstanding overpayments from early October.

Want to read more?

This content requires a Croner-i subscription.

No Subscription?

;

Contact us to discuss your requirements.

Book a demo
Call an Expert:

0800 231 5199

Talk to us on

live chat