According to an article in October’s Accountancy magazine HMRC have started issuing fines for late in-year PAYE/NICS payments in 2010-11. This is not about late payments after the year-end has been filed – these have always carried interest penalties. These new penalties have been raised where employers have consistently missed the monthly settlement deadline for
As agents and employers we are at that time of year once again when HMRC’s £400 penalty notices drop through the letterbox for failure to file year-end PAYE returns due 19th May. And once again, we are all left somewhat bemused by HMRC’s inability to produce these on a timely basis. Why can’t HMRC issue
Yes, its that time of year again; the nights are drawing in, leaves dropping off the trees and minimum wage rates going up… For pay periods beginning after 1st October the hourly rates are as follows:- Full adult rate goes from £5.93 to £6.08 18 to 20 year olds from £4.92 to £4.98 16 to
Self assessment statements usually issued by HMRC in July have been issued late this year. These statements include reminders to settle the second payment on account, where applicable, by 31 July 2011. However, as these were sent late (i.e. after the 31 July) as timely reminders they were pretty useless. By way of concession, HMRC
As some of you may have noticed, we have a new recruit – Amber somewhat fortuitously joined us in April; before we actually realised quite how busy we were going to be. So, it has been in at the deep end for Amber and I am delighted to say she is a great swimmer. Off
The royal Wedding and that blasted extra bank holiday has raised many questions from you and your employees about annual leave, bank holiday etc so here goes… The minimum statutory entitlement to paid annual leave is 28 days. This is based on a standard 5 day week so for part-timers this entitlement should be reduced
Everyone is talking the economy up, down and sideways. Retailers say we are in a double-dip, housing market is flat, more people are in work but yet more people are claiming job seekers allowance. Confused? Well, we are. So we decided to survey our own little client base and this is what we discovered… The
As ever the start of a new tax year usually brings with it some strange new, inexplicable behaviour from HMRC. This year has been no exception. Oh where to begin? Well, processing of year-end P35s has been much swifter this year – hence the early issuing of underpayment notices in respect of 2010-11. As ever,
As we have just worked through another great pile of P11D forms (return of expenses and benefits), it seems topical to remind you all about the P11DX: this is an HMRC dispensation for expenses payments and benefits in kind. It is a straight forward form that you complete as an employer and submit to HMRC.
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50% tax – yes or no?
0 Comments Posted by Niki on September 13th 2011 @ 1:28 pm
Well, I have read and read and I still don’t know the answer to this one. Putting any moralising aside (I am rubbish at moralising) and looking simply at the maths it is kind of hard to argue against. Does a higher tax rate prove a demotivator for our “wealth creators” (whoever they are)? Well,
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