Accident claims news

Keeping YOU fully up to date

Archive | March, 2011

Accountants are reminded to prepare for payroll year end

The payroll year end is nearly upon us and small businesses and contractor accountants are reminded that it is now mandatory for employers to file P14 and P35 certificates online.

Why do SMEs shy away from accounting software?

A lot of small businesses are still failing to reap the benefits of accounting software, according to one accountancy expert.

Firms may have to pay deposit to prevent defaulting on PAYE

HMRC is concerned that some employers are deducting PAYE and NIC from their employees but not forwarding the money on to the Revenue. In some cases, the employer will use the money to help his cash flow and in others, the firm goes bankrupt with massive debts and although HMRC is a preferential creditor, there is nothing in the pot to pay it with.

IR35 is here to stay, at least for the time being

Contractor accountants were probably disappointed to learn that IR35 is to remain with us for the time being.

How much longer can HMRC continue to take the strain?

None of us are great fans of HMRC and in fact if you look at the evidence the House of Commons Select Committee has been presented with it would seem that nobody has a single good word to say about the government department.

NI and Income Tax merger draws a step closer

Accountants in London and around the rest of the UK will have much to think about as they digest George Osborne’s budget speech.

Tackling tax avoidance is on the budget agenda

George Osborne delivers his budget later on today and it is expected that he will crack down on tax avoidance. The Chancellor has already indicated that he wants HMRC to raise an additional £7 billion by 2014/15.

What will the budget have in store for accountants?

It is widely believed that George Osborne will announce plans to merge National Insurance and Income Tax when he delivers the budget tomorrow. The OTS has already suggested that such a merger would make it easier to administer tax and cut the costs of collection, although it would be hard to implement.

Sellers of fast food could be in for bumper VAT refunds

Sellers of fast food could be in for bumper VAT refunds courtesy of a new European Union ruling, according to tax advisers.

Customer service at HMRC is unlikely to improve in a hurry

If you’re one of the large number of accountants who have had cause to gripe at the poor level of customer service from HMRC, then I have bad news. It’s not going to improve much this year.