Improved process for paying voluntary NIC for periods abroad
[ad_1] A person living or working abroad can apply digitally to pay voluntary NIC to fill gaps in their record. A person who has lived or worked abroad may not have enough years of national insurance contributions (NIC) to qualify for the state pension or other benefits. They can fill gaps in their record by […]
New HMRC process for termination payment queries
[ad_1] HMRC’s latest Employer Bulletin states that termination payment enquiries should now be made through the non-statutory clearance service. If this article is supporting your professional development, it can count towards your verifiable CPD hours. Use the pop up at the bottom right corner of your screen to add reading this article as an activity […]
HMRC changes central assessment process for late VAT returns
[ad_1] Central assessments may no longer be cancelled immediately upon submission of the late return. When traders miss the deadline for filing a VAT return, a ‘central assessment’ is raised by HMRC’s system. This is also known as a ‘VAT notice of assessment of tax’. A central assessment estimates the VAT liability due to HMRC […]
Further changes to VAT option to tax notification process
[ad_1] Notification receipt letters will no longer be issued with effect from 1 February 2023, says HMRC. Supplies of land and buildings are normally exempt from VAT. This means that no VAT is chargeable, but the person making the supply cannot normally recover any of the VAT incurred on their own expenses. However, it is […]