Jun 21 2016 P11Ds Categories: EQ AccountingPayroll All employers should remember the filing date for P11D returns with HM Revenue and Customs is 6 July 2016. P11D returns are normally needed where employees earning over £8,500 per year (including value of the benefits), or any company directors, receive any benefits or expenses payments from their employer. For employees earning less than £8,500, more
Mar 9 2016 National living wage Categories: EQ AccountingPayroll The new national living wage will come into effect on 1 April 2016 for workers aged 25 and over, to be paid a minimum of £7.20 per hour. The National Minimum Wage will continue to apply for those aged 21 to 24. In Scotland there is also a voluntary rate of £8.25 for all workers more
Feb 11 2016 Personal allowance 2016/17 Categories: EQ AccountingPayroll The basic personal allowance for 2016/17 is £11,000. This means that the starting point for PAYE will be £211.54 per week (£916.67 per month) and the new emergency tax code will be 1100L.
Feb 11 2016 Payroll Year end 2015/16 Categories: EQ AccountingPayroll With April fast approaching, time should be taken to familiarise yourself with Year End filing procedures and deadlines. HM Revenue & Customs have produced this step-by-step guide to follow. Please follow this link www.gov.uk/payroll-annual-reporting. To ensure compliance with the latest HM Revenue & Customs requirements, please contact Lynne Vaughan or Jane Russell on 01382 312140.
Feb 11 2016 Scottish Rate of Income Tax Categories: EQ AccountingPayroll From 6 April 2016, you’ll pay the Scottish rate of income tax if you live in Scotland. This means some of your income tax will be paid to the Scottish Government. It applies to your wages, pension and most other taxable income. Your personal allowance – the amount of income you don’t pay tax on more
Feb 11 2016 Increase in employment allowance Categories: EQ AccountingPayroll From April 2014, every business, charity and community amateur sports club has been entitled to an annual ’employment allowance’ of £2,000 to reduce their liability for Class 1 secondary NICs. The employment allowance will increase from £2,000 to £3,000 from 6 April 2016 but eligibility will be restricted. To ensure that the NICs employment allowance more
Jan 12 2016 CIS errors by contractors raises £154m in unpaid tax Categories: EQ AccountingPayroll HMRC’s yield from tax investigations into the construction industry rose by 17% to £154.2m in the last year, up from £131m the previous year as self-employed builders and sub-contractors are targeted by HMRC. The amount collected from HMRC’s investigations in the construction sector has more than doubled in the last five years, up from £66.9m more
Nov 26 2015 Workplace Pension/Auto Enrolment Seminars Categories: EQ AccountingPayroll EQ Accountants are organising a number of Workplace Pension seminars to inform and update employers/payroll contacts of the key points they should be aware of when dealing with the legislative and practical requirements. The seminar will be jointly presented by Balmoral Asset Management Ltd and EQ Accounting Services. Key Considerations Do you know your staging more