Impact of MTD on employers

Posted by on 17 October, 2016
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This item was filled under Tax

HMRC has published Employer Bulletin 62 (tinyurl.com/eb62oct). Summaries of some of the articles follow.


 


Making Tax Digital


 


HMRC includes an item on the Making Tax Digital (MTD) consultations, focusing in particular on MTD: Transforming the tax system through better use of information. The bulletin states that the consultation focuses on how HMRC will make better use of the information received from third parties, including employers’ real-time information (RTI) submissions. 


 


One of the changes discussed in this consultation document involves HMRC using the PAYE process to determine tax codes to ensure more people pay the right amount of tax in the tax year. The article says: 


 


‘This approach will not significantly affect the role that employers play. Employers may see the volume of coding notices …
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