UK HMRC Self-Certification Updates
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| SELF-CERTIFICATION: YOUR QUESTIONS ANSWERED |
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Dear Dan Walters,
When must you register with HMRC? The deadline for existing plans (both UK non tax-advantaged and UK tax-advantaged) is6th July 2015. What happens if you do not register existing plan(s)? The tax advantages of the plan(s) may be lost (even if already "approved" under the now redundant process). What else is required at registration stage? You will need to be registered to use HMRC Online Services - this, on its own, can take up to 7 days to obtain login details. Why is it advisable to register your existing plan(s) well before 6th July 2015? As with anything new, there will be a learning curve for all involved. HMRC is quite prescriptive in terms of submission templates and software requirements. Penalties exist for late filing and incorrectly completed/formatted returns. Where relevant, loss of beneficial tax treatment may also occur. Other news... For those of you who account for share based payments using accounting standard IFRS 2, the IASB has proposed some amendments for comment which you can view here. Thankfully, the focus is on clarification of some technical points rather than a radical overhaul. If you need more information, please get in touch. Kind regards Louise Louise Drake National Sales Manager YBS Share Plans Yorkshire House, Yorkshire Drive, Bradford, BD5 8LJ Telephone: +44 (0)1274 263 101 | Mobile: 07810 636 276 | Email: lndrake@ybs.co.uk |
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| Important information YBS Share Plans is part of Yorkshire Building Society. YBS Share Plans, Yorkshire House, Yorkshire Drive, Bradford, BD5 8LJ • Tel: 0845 1 200 300 • Fax: 01274 357 950 • ybsshareplans.co.uk Yorkshire Building Society provides Share plan trustee and administration services, including deposit taking, in England and subject to English law and regulation. We are not responsible for Share plan deposits held by local savings carriers outside the UK. Yorkshire Building Society is a member of the Building Societies Association and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Yorkshire Building Society is entered in the Financial Services Register and its registration number is 106085. Head Office: Yorkshire House, Yorkshire Drive, Bradford, BD5 8LJ. All communications with us may be monitored/recorded to improve the quality of our service and for your protection and security. Charges to 0845 numbers may vary. Prices can be checked with your phone provider. Mobile calls usually cost more. To unsubscribe, please click here |
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