Changes to HMRC Data Collection
19 July 2023
Draft legislation was announced on 19 July for changes to HMRC data collection.
This measure will require employers to provide more detailed information on employee hours worked via Real Time Information PAYE reporting. Secondly, shareholders in owner-managed businesses will be required to provide the amount of dividend income received from their own companies separately to other dividend income, and the percentage share they hold in their own companies via their Self-Assessment return. Finally, the self-employed will be required to provide information on start and end dates of self-employment via their Self-Assessment return.
The measure will have effect from no earlier than the start of the tax year 2025 to 2026.