Christmas Greetings & Charity Donation

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HMRC PAYE Real Time

Information from HMRC regarding PAYE developments – if your business needs help and advice, speak to CJS Accounting. “HMRC is introducing a new way of reporting PAYE – called Real Time Information, or RTI. From April 2013, employers will be legally required to report PAYE in real time. This means that information about all PAYE [...]

Important dates in July

19th – 20th July 2012 – Final date for payment of 2011-12 Class 1A NICs 31st July 2012 – Second Self Assessment payment on account for 2011/12  

Tax Changes

Tax From April 2013, the 50p tax rate will be reduced to 45p. This is because the current tax rate has damaged the economy and has raised very little. Income Tax The new personal allowance of £8105 begins in April 2012, with a further increase to £9205, which will take effect from April  2013. Image [...]

Non-payment of PAYE

From 6th April 2012, HMRC will have the authority to demand security in the form of a bond from an approved financial institution, or a cash deposit from employers who avoid paying PAYE or class 1 NICs. This will not affect employers who pay their tax on time and will not be used against employers who are having [...]

Important Dates in March 2012

2nd March 2012 Last day to pay any balance of 2010/11 tax and Class 4 NICs to avoid an automatic 5% late payment penalty.   31st March 2012 End of Corporation Tax financial year. Filing date for Corporation Tax Return Form CT600 for period ended 31st March  2011. Image Copyright Dale Rockell Photography

Working Flexible Hours

Employees requesting flexible working hours are currently only eligible if they are a parent of a child under the age of 17, or 18 if the child is disabled, or have caring responsibilities for adults. This also only applies if the individual has at least 26 weeks continuous service with their company. This is set [...]

References

Employers don’t have to give references, but if they choose to do so, they must ensure that they are fair. Many employers choose to give only basic references, stating the job title, dates and reason for leaving. In this case, this will probably prompt a phone call being received from the individual’s new employer requiring [...]

Bookkeeping

With the strict emphasis by HM Revenue & Customs to keep all your financial records accurate, it is advisable to appoint a qualified bookkeeper thus avoid any penalties. Many people think that by doing their own bookkeeping, they will be saving themselves money. In fact, if you are under-qualified and unsure of the bookkeeping, you [...]

Emission Taxes

The benefits of a company car now come with emission taxes that apply to both directors and employees. These rates can be very expensive, so it is worth finding out whether the car can be owned by you personally, instead of the company.  If this is the case, then you are able to claim back [...]