Scott & Wilkinson Blog - Page 35
Please select a news item listed below which may be of interest to you. Alternatively, please review our archives at the bottom of the page by year. If any of them are of interest and you require more information, please do not hesitate to contact the office.
Call for employers to incentivise staff
Date: 25/02/14
Business owners are advised to look at ways of incentivising key employees following the publication of new figures suggesting that employers could face a high staff turnover in 2014. According to research from the Institute of Leadership and... Read More
Changes to capital allowances imminent
Date: 25/02/14
Business owners are advised of changes to capital allowances which come into force in April. The changes mainly affect purchasers of second hand commercial buildings and their entitlement to claim tax relief in the form of capital allowances on... Read More
HMRC to send out PAYE coding notices
Date: 25/02/14
Individuals who receive a new PAYE tax code are advised to ensure that it is correct. Over the next three months, HM Revenue and Customs (HMRC) is sending out new tax codes for the 2014/15 tax year, which will come into effect from 6 April. Some... Read More
RTI - Making your final submission for the 2013-2014 tax year
Date: 07/02/14
Now that you are reporting PAYE information in real time, you don't need to send forms P35 and P14 at the end of this tax year. Instead, just send your real-time PAYE submission as normal and answer a few extra questions. It is very easy to do.... Read More
PAYE warning to employers
Date: 13/01/14
Employers could face in-year penalties next year if they fail to submit their Pay As You Earn (PAYE) returns on time. The warning comes as HM Revenue and Customs (HMRC) is starting to send out electronic notifications to employers who appear to be... Read More
Time running out to take advantage of higher pension allowance
Date: 13/01/14
Individuals are advised to ensure they don't miss an opportunity to take advantage of the current pension allowance limits before changes take effect in April. The annual pension allowance will be reduced from £50, 000 to £40, 000 from April,... Read More
Don't miss out on temporary AIA increase
Date: 10/12/13
Businesses have just over a year left to take advantage of a temporary ten-fold increase in the annual investment allowance (AIA) for plant and machinery. The AIA, which enables business owners to write off a certain amount of their qualifying... Read More
New rules permit recovery of unpaid Class 2 National Insurance via PAYE Coding Notice
Date: 09/12/13
Employees should be aware of new rules that enable HM Revenue and Customs (HMRC) to collect unpaid Class 2 National Insurance Contributions (NICs) through an individual's PAYE tax code as of April 2014. Payment requests for unpaid Class 2 NICs have... Read More
Tax avoiders to be targeted by new HMRC taskforces
Date: 09/12/13
HM Revenue and Customs (HMRC) has launched a number of new taskforces targeted at potential tax avoiders. Three taskforces have been launched focusing on individuals in the South and South East with offshore accounts, the road transport industry in... Read More
