We have changed our telephone number to: 01454 319259, please use this number when contacting the office in the future. My mobile phone number remains the same.
I would like to introduce our new member of staff, her name is Carley Michael who has taken the post of Finance Administrator. Carley has a financial background and will be assisting me with your accounts and be a point of contact for you at the office.
Carley will be working on a Tuesday and Thursday morning from 9.00am-1.00pm, you can contact Carley on our new phone number: 01454 319259 or you can email Carley with any queries by using her email address: email@example.com .
- National Minimum Wage – Sep 2014
Increases to the minimum wage start from 1st October as follows:
|Year||21 and over||18 to 20||Under 18||Apprentice
|2014 (from 1 Oct)||£6.50||£5.13||£3.79||£2.73|
|2013 (Current Rate)||£6.31||£5.03||£3.72||£2.68|
- HMRC on Twitter! – Sep 2014
You can now follow HMRC on Twitter for information about tax and news, publications, information, consultations, speeches and publicity campaigns. Happy Tweeting!
- Self Assessment email alerts – Sep 2014
If you submit a self assessment return to HMRC you can now sign up to receive email alerts and messages instead of the usual paper versions. To find out how go to:
- PAYE Penalties – Sep 2014
HMRC are introducing penalties for not filing your PAYE submissions on time:
- From 6th October 2014 for employers with 50 or more people in a PAYE scheme
- From 6th March 2015 for all other schemes
The penalties will be :
|No of Employees||Penalty Amount|
|1 to 9||£100|
|10 to 49||£200|
|50 to 249||£300|
|250 or more||£400|
Email us for a fact sheet.
- Improvements to CIS repayments
Finally HMRC are aiming to improve the time taken to repay CIS deductions for companies! They will aim to process a company CIS repayment claim received within 25 working days. See http://www.hmrc.gov.uk/news/imp-to-CIS-repay.htm for more info.
- Tax Credit Renewals
If you need to renew your tax credits remember you must do so by 31st July.
- Auto-Enrolment, are you prepared? 9th July 2014
If you need more information regarding Auto-Enrolment please contact us. However, it’s worth thinking about:
- Staging dates – need to know the Auto-Enrolment staging date for your business? Please go to: http://www.thepensionsregulator.gov.uk/employers/tools/staging-date.aspx and enter your employer’s PAYE reference number to find out.
- Using the pension regulator’s online planning tool, as you get nearer to your staging date.
- Sign up for regular updates via the “News by Email” service at http://forms.thepensionsregulator.gov.uk/subscribe.aspx
- Finding a pension company to provide your company’s pension.
- Employer’s NI allowance – 9Th July 2014
The Employment allowance is up to £2,000 off an employer’s National Insurance Contributions. If you haven’t claimed it yet it’s not too late, do it now! This can simply be done by ticking the yes/no indicator on your payroll.
To find out if you’re company or charity is eligible, or for more information see HMRC’s website at: https://www.gov.uk/employment-allowance-up-to-2000-off-your-class-1-nics
- Share your tax code! – 9th July 2014
From the tax year 2015/16 onwards, you will be able to transfer some your personal allowance with your spouse or civil partner. It’s an amount of £1,050 for the 2015/16 tax year, and 10% of your PA from then on. Neither party can be a higher or additional rate tax payer. More info to follow from HMRC later in the year……
- European VAT for companies selling e-business – 9th July 2014
From January 2015 the place of supply for business selling e-services to retail customers in the EU will no longer be deemed to be the UK, but the country into which the service is sold! This means the VAT you will charge on each sale will be the rate held by the European Country. VAT reporting will also need to be produced separately to your UK Vat return. A real headache for these types of businesses. Please see VAT Notice 741A for more information.
- Did you know? – 9th July 2014
- Only 1% of tax payers pay the additional rate of tax (45% for earnings over £150,000), but they still contribute 29% of all income tax collected.
- Nearly 82% of tax payers pay no more than the basic rate of tax, but they contribute almost the same amount at 33.2% of income tax collected.