HMRC Stakeholder Digest - 24 November 2022

24 Nov 2022

Please see the following message from HMRC, which we are sharing for information:

The HMRC Stakeholder Digest provides a round-up of our latest news and updates, which we’d be grateful if you could share with your clients, customers, or members.

Help with the cost of childcare with Tax-Free Childcare

Families shouldn’t miss out on financial support that can help pay for childcare.

Through Tax-Free Childcare, working families can receive up to £2,000 a year per child, or £4,000 if their child is disabled, to put towards the cost of childcare. This is available for children aged up to 11, or 17 if the child has a disability.

The money can help towards the cost of holiday clubs, childminders, nurseries, and other approved childcare schemes.

The government pays 20% of the childcare costs by topping up the money paid into a Tax-Free Childcare account. This means for every £8 paid into the online account, families will automatically receive an additional £2 in government top-up.

More information about Tax-Free Childcare can be found on the Childcare Choices website.

Interactive guide for updated tax codes

Customers receive a P2 Notice of Coding when their tax code changes, this can be for several reasons including:

  • customers start to get income from additional job or pension
  • the customer’s employer tells us they have started or stopped getting benefits from their job
  • they get taxable state benefits
  • they claim marriage allowance
  • they claim expenses they get tax relief on.

We have developed a new interactive tool to help customers select the correct guidance according to their needs, understand what has changed and what, if anything, they need to do.

They can visit the tax codes page on GOV.UK to use our new interactive guidance.

Helping businesses prepare for new VAT late submission and late payment penalties

For businesses with VAT periods starting on or after 1 January 2023, the current default surcharge will be replaced by new penalties if a VAT return is submitted or paid late.

Businesses can find information about how to prepare for upcoming changes to VAT penalties and VAT interest charges on GOV.UK

You can help businesses prepare for these changes by sharing these communication resources on your own channels. This includes social media messaging and imagery, an overview video, and links to register for upcoming webinars we’re running on 29 November and 8 December 2022.

Shared on behalf of the Valuation Office Agency (VOA)

Draft rating lists for 2023 Revaluation – available now

The Valuation Office Agency has published the draft rating lists for the 2023 Revaluation that was announced in last week’s Autumn Statement. These set out the future rateable values for all businesses and other non-domestic properties in England and Wales, which will take effect from 1 April 2023. 

The government also confirmed the business rates relief package and multiplier at the Autumn Statement. The Autumn Statement business rates factsheet 2022 is available on GOV.UK.

Your members and clients can use the find a business rates valuation service to see the future rateable value of their property and get an estimate of their business rates bill.

They can also check details held about their property, let the VOA know about anything that is incorrect, and compare their property's rateable value with others in the area.