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July 2019 - The Big Picture

Paul Malley

Paul Malley | Managing Director

Tuesday 23rd Jul, 2019

Earlier this month the draft legislation for off-payroll working in the private sector was released and confirmed that it will be introduced from April 2020. There were no surprises in the draft legislation but there were some enhancements which we assume have come from the public sector roll out. An overview of the draft legislation outcomes can be found in our article – “Off-payroll working in the private sector is confirmed for April 2020”.

This month we share with you a couple of things to watch out for. The first being the delay of additional security measures that were due to be introduced, to help prevent millions of pounds worth of fraud. This was an initiative by the Payment Service Providers and the Financial Contact Authority and has unfortunately been postponed until 2020 due to a delay in the banking systems. Our advice as ever is to remain vigilant and to ensure that if you are a PayStream Umbrella employee, and you have recently changed your name on your bank account, you let our Customer Care Team know. Otherwise after this change has been implemented, your payment will not be authorised or sent.

June saw us add yet another accolade to our portfolio by walking away with the Best Accountancy Firm award at the annual Recruitment International Awards ceremony in London

There has also been increase in HMRC penalties for late Tax Returns and this emphasises the importance of getting your Tax Return in on time. The second change being an HMRC error which is affecting payments on accounts. If you are a PayStream Personal Tax customer, then you have nothing to worry about, however if you deal with your own Personal Tax Returns then you may want to take the time to read these articles.

In other news, June saw us add yet another accolade to our portfolio by walking away with the Best Accountancy Firm award at the annual Recruitment International Awards ceremony in London. This is just further evidence of our reputation within the industry, and that our business continues to deliver exceptional service levels in a very competitive market.

Related article - HMRC error affects payments on account bills

Due to a HMRC system error some taxpayers may not receive a bill from HMRC for payments on account due by the end of July for the 2018/19 tax year and will be required to pay a higher bill in January 2020.

Read more here
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