IAB November Newsletter
The main event this month was the Autumn Statement where the Chancellor focused on business and benefits with changes impacting payroll and MTD for ITSA, more details feature in this newsletter.
NI changes for payroll - an overview of key changes relating to payroll following the Autumn statement with recommendations on how to raise awareness of the changes to avoid employee confusion.
November Coffee Morning - we welcomed Miranda Harding from Capital on Tap to present a business credit card offering and Kerry had an extended spot to present on PAYE and data quality, If you missed it you can catch up here
The end of November marks the beginning of COP 28, an event that carries immense significance in our rapidly changing world. It's easy to view it as a distant event, detached from everyday life, but it shouldn't be underestimated. This gathering represents a combined effort to tackle the climate crisis.
It's also a time when decisions are made that will extend far beyond the conference hall, rippling into the fabric of national policies and supply chains. Every business, large or small, must pay attention to the outcomes of COP 28. The impact of these decisions will reverberate throughout organisations of all sizes, shaping their environmental responsibilities and strategies.
Sarah's Top Pics for November
A key announcement from the Chancellor was regarding MTD for ITSA, Making Tax Digital for Self-Assessment. The IAB has been heavily involved with HMRC regarding the simplifying and improving of the system for taxpayers and their representatives. I am delighted that the government will be making design changes we have been pushing for. The requirement to provide an End of Period Statement will be removed and some taxpayers, including those without a National Insurance number, will be exempted from MTD. Taxpayers who are using MTD will be able to be represented by more than one tax agent. The draft regulations will be published for technical consultation later in 2023.
New York, New York! Well that was a long way! I’m pleased to say both Tom and I completed the New York Marathon, it was a fabulous experience and we have brought home many stories to tell. Most importantly we kicked started the fund raising for our two worthy charities.
A cyber-attack guide for SME's
SME's can be more at risk of crime than other businesses as they may have fewer protective measures to detect fraud and less regular training on the issue.