Monthly Archives for October, 2011

Key Dates

October 14, 2011
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List of upcoming key financial dates · 19 October 2011

o PAYE and NIC due for the month ended 5th October 2011.

o CIS return must be submitted for the month ended 5th October 2011

· 31 October 2011

o Deadline for paper submission of Self Assessment tax return for tax year ended 5 April 2011

· 19 November 2011

o PAYE and NIC due for the month ended 5th October 2011.

o CIS return must be submitted for the month ended 5th October 2011

Electronic payment of PAYE & NIC extends the due date to the 22nd of the month.

Agency Workers: New Rights

October 14, 2011
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From 1 October 2011 new regulations give agency workers certain new employment rights. If you employ agency or ‘temporary’ staff you will need to be aware of these rights, and when they apply. The rights of an agency worker are based on those of someone doing a comparable (similar) job. A comparable employee is someone doing the same job or broadly similar work to the agency worker usually at the same workplace (but may be located elsewhere). This entitlement applies whether the agency worker is part time or full time.

From day one an agency worker has the right to access facilities and information about job vacancies within the workplace.

After 12 weeks in the same job with the same hirer, agency workers are entitled to the same basic terms and conditions as if they had been recruited directly.

These basic terms and conditions include:

o - Basic pay, including holiday pay, overtime and bonuses linked to performance, but excluding occupational schemes – sick pay, maternity, paternity and adoption pay as well as redundancy and notice pay
o - Duration of working time – for example not having to work more than 48 hours a week if those directly recruited are not
o - Annual Leave
o - Night Work
o - Rest breaks and Rest periods

Tax Return Information

October 14, 2011
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Completing a Tax Return requires more information than simply the profit from your trade or employment income. Below is a list of the additional information that has to be included in your Tax Return, (please note that it is not an exhaustive list):-

o - Interest, excluding that earned on an ISA
o - Dividend income
o - Pension Income
o - Employment Benefits, such as a company car, health insurance etc
o - Government Benefits, such as incapacity allowance, carers allowance, jobseekers allowance etc
o - Property Income
o - The sale of any assets (property, shares etc) which may give rise to Capital Gains Tax

It is also important that you tell us of any Gift Aid donations and personal Pension Contributions that you make in the year, this is particularly important if you are a higher rate tax payer.

Although every effort is made to ensure that all information is included, we would ask that you inform us of any additional income sources which you may have.

2011 Self Assessment

October 14, 2011
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The deadline for submitting 2010 - 2011 Self Assessment Tax Returns is fast approaching. There are two key dates to be aware of:-

o - 31st October 2011 - If you send a paper tax return for the 2010-11 tax year, it must reach HM Revenue & Customs by this date
o - 31st January 2012 – All tax returns have to be submitted by this date, if you miss the 31st October deadline, your tax return will have to be submitted electronically.
In order to do this we need to have a Unique Tax Reference (UTR) Number for you, if you are unsure whether you have one or whether you need one, please contact us and we will advise you.

If your return is late, you will be issued with an automatic £100 penalty, even if you have no tax to pay or if you pay all the tax you owe on time.

We would advise that Directors are legally required to submit a Tax Return. If you are a company Director and currently do not submit a tax return either personally, or through Curle & Co, and wish to do so, please contact us as soon as possible.

If you are a new client, we would ask that you inform us as to whether you have submitted a Tax Return in previous years.