HMRC Employer Bulletin April 2022
HMRC have released their April 2022 bulletin to give employers key updates and information. We have linked the section that relates to PAYE but the are more that has updates on Covid-19, tax and VAT, IR-35 and information on general support:
PAYE Settlements Agreements deadline - deadline for applying or making amendments is the 5th July.
Electronic payment deadline falls on a weekend - 22nd May 2022 is a Sunday. Electronic payments must reach HMRC account by Friday 20th May 2022.
Classification of company cars or vans for benefits in kind purposes - the correct classification or cars and vans has been agreed.
Reporting expenses and benefits for tax year ending 5 April 2022 - you must give employees a letter explaining any benefits and expenses that have been payrolled. Make sure you use the correct reference number for paying Class 1A payments. Accounts office reference plus 2213 - Example 123PA001234562213
The official rate of interest for the 2022 to 2023 tax year - will remain at 2%
Student and postgraduate loans - make sure to check your online account for notices. Shape will pull these notices for you and you can apply them to your employee. Some thresholds have been updated.
Freeports employer National Insurance contributions relief - Available from 6th April 2022 until April 2026, for 36 months per new employee if within a freeport area.
National Insurance holiday for employers of veterans: claims process now live - can be claimed retrospectively for April 2021 to April 2022.
Claiming Employment Allowance from April 2022 - Employment allowance increased to £5,000 for 2022-2023. Need to claim every year and you need to make sure you check eligibility before claiming.