RTI Penalty Delays
HM Revenue and Customs have announced they’re staggering the start of the penalty regime under Real Time Information (RTI). Originally, “in year” penalties, interest for late filing and late payments were all meant to be introduced at the start of the new tax year in April. However, the new timetable is as follows: Interest on … Continue reading RTI Penalty Delays
The 5th April 2014 will see the end of the first complete year of running PAYE through Real Time Information (RTI). One of HMRC ‘s intentions when introducing the new filing format was to make it easier for employers to send information to them by submitting a Full Payment Submission (FPS) every time a payment … Continue reading RTI End Of Year 2014
From April 2014, eligible employers will benefit from a reduction of up to £2000 per year in their employer Class 1 NIC’s liability. Throughout the UK over 1 million businesses and charities will gain from the new Employment Allowance and the smaller employers will benefit the most pro-rata. In fact, roughly 450,000 of the smallest … Continue reading Employment Allowance: Can you deduct £2000 from your employers NIC liability?
Auto enrolment is on its way, and means that from the “staging date” all employees meeting the criteria must be enrolled in a compliant pension scheme unless they voluntarily “opt out”. The “staging date” is dependent upon a number of factors including the number of employees in the PAYE scheme. It is already in force … Continue reading Auto Enrolment Is On Its Way
Firstly, Dave, myself and the rest of the team wish you all a prosperous and healthy 2014. You will all know how stressful it can be to start a new business. My daughter Josie Wilson has recently set up a new business together with two colleagues, Tracey and Samina, with whom she worked closely in the educational … Continue reading A personal message from Margaret