Please click on any of the headings below for more information about each subject.
ONLINE VAT RETURNS
From April 2012, businesses (with very few exceptions) will have to file their VAT Returns online and pay their liability electronically. If you are not already online, now is the time to set it up.
EU COOKIES
The Information Commissioner’s Office (ICO) has published guidelines on the business use and storage of cookies.
PENSIONS AUTO ENROLMENT DATES DEFERRED FOR SMALLER EMPLOYERS
The timetable for the introduction of Pensions Auto Enrolment has been revised for smaller employers.
NEW APPROACH TO RECORDS CHECKS FROM HMRC
HMRC have announced that they intend to make changes to their business records checks programme following a review of the pilot scheme.
PAY UP ON TIME
A new guide ‘Get Paid!’ has been published. The guide which is aimed at smaller businesses contains tips and advice from both suppliers and customers. The guide covers advice on invoicing and developing a robust credit policy.
HMRC LATEST TARGETS
HMRC have announced that they will turn their attention to those involved in home improvement trades and direct selling (online market sellers) in their next round of Tax Catch Up Plans.
CLEAN UP YOUR PAYROLL DATA
HMRC have launched a new online video to help employers reduce the problems caused by inaccurate employee data.
SELF ASSESSMENT STATISTICS
According to HMRC a record 9.45 million self assessment tax returns were filed on time this year and a record 7.65 million (80.9% of them) were filed online.
BUDGET FOR GROWTH
The CBI is calling for a Budget to help businesses. To read more information on the CBI’s recommendations visit the link below.
PENALTIES FOR FAILING TO FILE PAYROLL FORMS ONLINE
HMRC have confirmed in the latest Employer Bulletin that they intend to impose penalties on all employers who fail to send their payroll starter and leaver forms online from April 2012.
Showing posts with label Payroll. Show all posts
Showing posts with label Payroll. Show all posts
Thursday, 1 March 2012
Wednesday, 29 February 2012
Processing in the new tax year
From 6th April the new emergency tax code will be 810L.
If you receive a new tax code for an employee, this must be used from the next payroll date.
If no tax code is received and the employee's current tax code has a suffix of L, then add 63 to the existing tax code for the first payroll after 6th April.
The new bands for the tax year starting 6th April 2012 are as follows:
PAYE threshold will be £156 per week / £675 per month
20% £1-£34,370
40% £34,371 - £150,000
50% £150,001 and above.
NIC LEL will be £107 per week / £464 per month
Please note there are also pension changes which will take effect from 6th April.
If you receive a new tax code for an employee, this must be used from the next payroll date.
If no tax code is received and the employee's current tax code has a suffix of L, then add 63 to the existing tax code for the first payroll after 6th April.
The new bands for the tax year starting 6th April 2012 are as follows:
PAYE threshold will be £156 per week / £675 per month
20% £1-£34,370
40% £34,371 - £150,000
50% £150,001 and above.
NIC LEL will be £107 per week / £464 per month
Please note there are also pension changes which will take effect from 6th April.
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