Blog & News

From 2012 all employers will need to ensure that they enroll all qualifying employees in a pension scheme.
Fergus Neilson will be liasing with all our clients to ensure that they have the maximum information to allow them to make considered decisions

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For the full listing see HMRC advisory fuel rates.

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Those of you who haven’t filed your self assessment tax return on line by January 31st 2012 can now be fined £100 – even if you have no income tax to pay! or have already paid it! If you miss the January 31st deadline and thereafter are more than three months late you will be charged £10 per day up to a maximum of £900 – that’s a fine of £1000! There are then extra fines if you are over six months or nine months late in filing your tax return as well.

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Annual leave and sickness absence

A recent judgment by the European Court of Justice on paid holiday (Stringer vs HMRC) means that employees on long term sickness absence are eligible for the minimum Working Time Directive paid annual leave entitlement. Employers should either be paying the 28 days (or pro-rata) during the relevant leave year, despite the employee’s absence or agreeing to carry forward the untaken leave to the next leave year.

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According to Business Minister Mark Prisk, the schemes will help SMEs to invest and create more jobs through the Regional Growth Fund facilitated by RBS, NatWest and HSBC, who, we are assured, will not profit financially from the administration of these schemes.
read more……http://www.bis.gov.uk/policies/economic-development/regional-growth-fund.

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HMRC have just published results of a recent survey taken among their staff on a variety of topics relating to their employment. The highest scores appear to relate to satisfaction with fellow workers within the “team” with the lowest ratings being reserved for management at HMRC. The questions “I would recommend HMRC as a great place to work” and “when changes are made in HMRC they are usually for the better” elicited only 18% and 13% of yes votes respectively. Read the full survey here: http://www.hmrc.gov.uk/research/ss-autumn2011.pdf

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HM Revenue & Customs (HMRC) is issuing an urgent reminder to employers – file your annual return online by the 19 May deadline, or you could face a penalty.
Employer Annual Returns must be sent to HMRC by the 19 May filing deadline. Failure to do so will almost certainly result in a late-filing penalty. In previous years, an extra-statutory concession gave employers extra time before HMRC charged a penalty, but this has now been withdrawn.

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Make sure you are fully compliant – click on the following link for full details
Spring PAYE alert for Employers.

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The National Insurance Contributions Bill has now been passed by Parliament and is now the National Insurance Contributions Act 2011. If you chose to wait until after the Bill was passed by Parliament before applying for the NICs holiday, you can now complete your application without concern that the criteria will change. Read more on the HMRC website.
Read our guide ‘Employer NICs holiday – who can apply?’ to see if you can take advantage of the holiday

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HMRC have announced that starting with 2010/11 tax returns, those filed late will attract the following charges, and the penalty will be levied whether or not there was any tax due to be paid. Previously if the late filed tax return resulted in no tax being due, penalties were not usually payable:

1 day late – initial £100
3 months late – £10 each day – up to a maximum of £900
6 months late – £300 or 5% of the tax due, whichever is the higher.
12months late – £300 or 5% of the tax due, whichever is the highet
In serious cases you may be asked to pay up to 100% of the tax due instead.

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