Latest News

2012/13 Statutory Payments
HMRC have announced statutory payment rates for 2012/13. For further details click on the link below.
http://www.hmrc.gov.uk/employers/stat-pmnt-rates2012-13.pdf

National Minimum Wage rates
From October 2011, National Minimum Wage rates will increase. For further details click on the link below.
http://www.direct.gov.uk/en/Nl1/Newsroom/DG_178175

Holiday Guidance
http://www.acas.org.uk/index.aspx?articleid=3040

Employer Provided Company Cars
http://www.hmrc.gov.uk/paye/exb/overview/emp-provided-cars.htm

Penalty guidance on late payment of PAYE
HMRC have been warning employers for some time that they may have to pay a penalty if they do not pay their PAYE deductions on time. For further details click on the link below.
http://www.hmrc.gov.uk/paye/problems-inspections/late-payments.htm#2

Tax and National Insurance on tips and bonuses
You'll have to pay Income Tax on any tips you get when you're working. But you may not have to pay National Insurance contributions. You'll usually pay the tax and any National Insurance contributions through PAYE (Pay As You Earn).
http://www.hmrc.gov.uk/working/bens-shares-tips/tips-bonuses.htm

Penalties for mistakes and delays with your VAT
You must submit your VAT Return and ensure that payment of the VAT due has cleared to HM Revenue & Custom's (HMRC) account by the due date. If you don´t, you may have to pay what´s known as a ´default surcharge´, which is a percentage of your unpaid VAT. If you continue to submit or pay late, you will be charged a higher percentage of your unpaid VAT. If you submit an incorrect VAT Return, HMRC may also charge you an inaccuracy penalty.
http://www.hmrc.gov.uk/vat/managing/problems/penalties.htm

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This information is published purely for the information of clients and anyone visiting this site. No responsibility for loss occasioned by any person acting or refraining from action as a result of the material they contain can be accepted by the authors or the company.