Monthly Archives for December, 2011

Key Dates

December 19, 2011
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Dates to mark in your diary

Key Dates…

  • 19 December 2011
  • PAYE and NIC due for the month ended 5th December 2011.
  • CIS return must be submitted for the month ended 5th December 2011
  • 19 January 2012
  • PAYE and NIC due for the month ended 5th January 2012.
  • CIS return must be submitted for the month ended 5th January 2012
  • 31 January 2012
  • 2011 Self Assessment Tax Returns due to be submitted.
  • Balancing payment of 2011 Tax Return due together with the 1st Payment on Account for the 2012 tax liability.
  • 19 February 2012
  • PAYE and NIC due for the month ended 5th February 2012.
  • CIS return must be submitted for the month ended 5th February 2012


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

Festive Holidays

December 19, 2011
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Curle & Co will close for the Christmas period from Friday 23rd December 2011 and will re-open on Wednesday 4th January 2012.

Gareth and all the staff at Curle & Co would like to thank our clients for their continued support and business throughout 2011 and wish them all a –

Merry Christmas and Prosperous New Year!

Keep in Touch

December 19, 2011
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Curle & Company are now on Facebook, to add us as a friend simply search for ‘Curle & Company’.You can also follow us on Twitter at @CurleCo

Congratulations

December 19, 2011
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Congratulations to our colleague George O’Donnell who became a Dad for the first time.Christopher Alexander was born on 22nd November weighing a healthy 8lbs 3.
Congratulations also to our colleagues Pamela Carmichael and Christine Price who both became first time grandmothers and also to our bookkeeping manager, Jean McWhinnie, who is due to become a first time grandmother any day now!

New CIS Penalties

December 19, 2011
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New penalties for the late submission of CIS Returns are now in force. Returns should be submitted by the 19th of each calendar month, however, if HMRC does not receive the Return on time, including Nil Returns, the following penalties will be applied automatically:

Length of Delay Penalty to pay

1 day late A fixed penalty of £100

2 months late A fixed penalty of £200

6 months late £300 or 5% of the CIS deductions shown on the return, whichever is higher. This is as well as the penalties above.

12 months late £300 or 5% of the CIS deductions shown on the return, whichever is higher.

In serious cases you may be asked to pay up to £3,000 or 100% of the CIS deductions shown on the return, whichever is higher.

These are as well as the penalties above.

VAT Returns

December 19, 2011
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Due to the closure of the office over the festive periodall VAT paperwork for the VAT quarter Sept – Nov 2011 should be submitted as soon as possible and no later than Wednesday 21st December 2011 to enable the bookkeeping department to complete all VAT returns before Christmas.

2011 Self Assessment

December 19, 2011
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We would remind you that the deadline for submitting 2010 - 2011 Self Assessment Tax Returns is fast approaching. <br/><br/>All tax returns have to be submitted electronically by 31st January 2012. We would remind you that ALL sources of income should be included on your tax return, i.e. dividend income, rental income, and not just the profit from a sole trade/partnership or employment income.

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.

Interest and penalties are charged if you don't pay the tax you owe for the previous tax year on time; the penalties charged are as follows:

Length of Delay Penalty to pay

30 days late 5% of the tax you owe at that date

6 months late 5% of the tax you owe at that date, as well as the 5% above

12 months late 5% of the tax you owe at that date, as well as the two 5% penalties above

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.