HM REVENUE AND
CUSTOMS News Release (Ref:NAT 34/08) issued by The Government News
Network on 24 July 2008
receive details this week from HM Revenue & Customs (HMRC) of
what they can do to get ready for the tax code changes which will
be required for many individuals following the Chancellor's
announcement in May.
The Chancellor announced that the basic Personal Allowance is
increasing by £600 from £5,435 to £6,035 and the basic rate limit
is reducing from £36,000 to £34,800. The new tax codes and rate
bands must be used from the first payday on or after 7 September.
HMRC is writing to all employers advising that they can get ready
in good time by:
* making sure that for every employee they have a P11 Deductions
Working Sheet (P11) or equivalent record
* applying any tax code changes that they get dated 23 August or earlier
* changing the existing tax codes following the last payday on or
before 6 September in line with the instructions provided in the letter.
Bernadette Kenny, Director General Personal Tax, said:
"This letter includes some really useful information for
employers. We are also updating our website so that all the
relevant tools, tables and guidance that employers use will be at
their finger tips come September.
"Employers will also get a revised Employer CD ROM along
with Employer Bulletin issue 30 in August."
Issued by HM Revenue & Customs Press Office