Latest Business News UK

HOW TO CHECK IF YOU CAN EMPLOY A WORKER 14-05-2013 To check if someone can work in the UK , prospective employers can go to the Business Link Web site which provides a useful navigation tool.

EMPLOYERS' PENSION RESPONSIBILITIES 01-05-2013 There was a significant shift in Pensions Legislation that took place on 1^st October 2012. From that date, the very largest of businesses (i.e. those with at least 50,000 employees), were obliged to ensure that they automatically enrolled all of their eligible employees into a Workplace Savings Scheme (i.e. a pension). There will be changes for all employers over the next 5 years.

HOW TO NOTIFY HMRC IF YOU CEASE SELF-EMPLOYMENT 09-04-2013 If you are self-employed and you stop trading, or sell or close your business, it is important to tell HMRC. It is now possible to do this by email using HMRC’s new online form. The form covers self assessment and National Insurance. It can be completed by an agent on behalf of a client. The form does not cover VAT, PAYE or the construction industry scheme. Traders will need to notify HMRC separately for those purposes.

COMPANY CARS AND ADVISORY FUEL RATES FROM 01 MARCH 2013 06-03-2013 From 1 March 2013 HMRC has announced new rates for all journeys. Employers have one month from that date to apply the changes. Click on title for new rates.

PAYING YOUR TAX 16-01-2013 The balance of your self assessment tax liability for the year ended 5th April 2012 plus any 1st instalment of your 2013 liability falls due for payment on or before 31st January 2013. If you wish to pay the liabilty online go to https://www.santanderbillpayment.co.uk/hmrc/scripts/index.asp. You will need your SA reference number (10 digits)

CHILD BENEFIT IS CHANGING 21-12-2012 On 7 January 2013, if you or your partner have earnings in excess of £50,000, the amount of Child Benefit you or your partner receive may be repayable in part or in full. You may need to take proactive action now. read on.......................

NATIONAL MINIMUM WAGE INCREASE 06-11-2012 The National Minimum Wage rate per hour depends on the employee's age and whether he/she is an apprentice. For the rates valid from 1 October 2012 click here

VAT DEREGISTRATION ONLINE 01-11-2012 With effect from 1 October 2012, VAT registered traders and entities may de-register on line rather that having to download, complete and post form VAT7.

REAL TIME INFORMATION - UPDATE 31-10-2012 HMRC is introducing a new way of reporting PAYE - called Real Time Information, or RTI. From April 2013, employers will be legally required to report PAYE in real time. This means that information about all PAYE payments needs to be submitted to HMRC online each time a payment is made as part of the payroll process, rather than at the end of the year as they are now. HMRC have given guidance to employers as to the action which they should now be taking so as to be able to operate RTI. Click here for the HMRC guidance. THIS IS THE BIGGEST CHANGE TO PAYE AND PAYROLL IN 50 YEARS. IF YOU ARE AN EMPLOYER MAKE SURE YOU ARE READY!

HMRC PUBLISHES GUIDANCE ON CHILD BENEFIT CHANGES 30-10-2012 HMRC has published new guidance for couples with "High Income". The changes affect any couple with one partner receiving an income of more than £50,000 per annum. The guidance can be found by clicking here. THE CHANGES TAKE EFFECT FROM 7 JANUARY 2013 SO ACTION MUST BE CONSIDERED NOW.

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