Merry Christmas from all at Clay Shaw Butler

Merry Christmas from David Butler, Ann Thomas, Nigel Roberts and all at Clay Shaw Butler!

Tax event due on December 30

The following Tax Events are due on 30 December 2012:
Online filing deadline for submitting 2011/12 self assessment return if you require HMRC to collect any underpaid tax by making an adjustment to your 2013/14 tax code
What this means for you?
This deadline is relevant for those individuals who complete a self assessment tax return online and who are employees. Where you have an underpayment of up to £3,000 only, you may request that HMRC collect any tax outstanding by making an adjustment to your tax code for the year 2013/14.
If we have already dealt with this matter on your behalf you need take no action.

We helped Carmarthen charity day

We were proud to sponsor the special Carmarthen Town AFC 'pink' kit for the recent charity day at Richmond Park.

Tax events due on December 19

The following Tax Events are due on 19 December 2012:
PAYE, Student loan and CIS deductions are due for the month to 5th December 2012
What this means for you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by today even if a nil return.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is Friday 21st December 2012 unless you are able to arrange a 'Faster Payment' to clear on or by 22nd December. Penalties may apply if payment is made late.

Our summary of the Chancellor's Autumn Statement

On Wednesday 5 December the Office for Budget Responsibility (OBR) published its updated forecast for the UK economy.
Chancellor George Osborne responded to that forecast in a statement to the House of Commons later on that day.
In the period since the Budget in March a number of consultation papers and discussion documents have been published by HMRC and some of these proposals are summarised on the link below.
Draft legislation relating to many of these areas will be published on 11 December.
We will provide an update for you on 12 December if significant changes are announced.
Our summary also provides a reminder of other key developments which are to take place from April 2013.
The Chancellor's statement
His speech and the subsequent documentation was a 'mini-Budget' announcing tax measures in addition to the normal economic measures.
Our summary concentrates on the tax measures which include:

• changes to personal allowances and tax bands
• changes to pensions reliefs
• a tenfold increase in the Annual Investment Allowance to £250,000
• a further reduction in the main rate of corporation tax
• announcements regarding the General Anti Abuse Rule and other 'abusive arrangements'.

To read our summary -
http://www.clayshawbutler.com/ard/merge_doc.asp?AID=518&MergeFile=autumn_statement_2012.htm

Advice on child benefit tax changes

From January 7, those entitled to Child Benefit, where they or their partner have annual income exceeding £50,000, will have some of this clawed back through the tax system.
And where either income exceeds £60,000 the entire amount of benefit will be lost through extra tax .
To prevent this happening, you can 'opt' not to receive the benefit in the first place, but opt back in, within two years of the end of the tax year if you change your mind.
Please contact us if you want more details.
Clay Shaw Butler
Chartered Accountants
01267 228500
www.clayshawbutler.com

Tax events due on November 19

The following Tax Events are due on 19 November 2012:
PAYE, Student loan and CIS deductions are due for the month to 5th November 2012
What this means for you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by today even if a nil return.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd November 2012. Penalties may apply if payment is made late.

Clay Shaw Butler's Amanda completes the half marathon

Clay Shaw Butler accountant Amanda Russell completed the Cardiff half marathon.
She joined a team of six other runners raising money for a small country in west Africa called Burkina Faso.
Amanda said: "I finished in 1 hour 57 minutes and so far we have raised more than £3000 for the Burkina Faso project, although we are still pushing to reach our group target of £5000 and there’s still time to give at http://www.justgiving.com/teams/BurkinaFaso
"You can also donate by texting FASO50 £5 to 70070. You can change the amount to any sum you want to give.
"There was an amazing atmosphere in Cardiff on what turned out to be a dry and fresh morning. There was plenty of hustle and bustle before we started and I bumped into numerous well-known faces on the journey up to the start line.
"The crowd of runners was daunting and the water stations were eventful, ducking, diving and jumping over bottles! Everyone was in high spirits around the course and the spectators were brilliant at keeping morale high on the way around although being told at mile 10 that you’re nearly there and it's all downhill from now on was a blatant lie!
"I was very glad to see the finish line, although finishing the experience off with steak and chips and tales of the days events made all the pain a distant memory! All in all, I thoroughly enjoyed the experience and would definitely do it again . . . just not for a few weeks!
"I'd like to thank all family, friends, customers and clients who helped support me and gave generously to our charitable cause."
Amanda added: "The United Nations rates Burkina Faso as the world's third poorest country and so they need as much help and money as we can give to allow them a chance to become self sustainable. The money being raised is specifically being put towards flood prevention.
"Remember: Donating through JustGiving is simple, fast and totally secure. Your details are safe with JustGiving - they'll never share them with anyone or send you unwanted emails. Once you donate, they'll send your money directly to the charity. They'll make sure Gift Aid (an additional 28%) is reclaimed on every eligible donation by a UK taxpayer, too. That means more money goes to the charity, faster, with JustGiving."
Amanda Russell ATT FCCA is a Relationship Accountant with Clay Shaw Butler chartered accountants and business consultants in Carmarthen.
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website atwww.clayshawbutler.com

News on tax events due in November

The following Tax Events are due on 02 November 2012:

Deadline for submitting P46(car) for employees whose car/fuel benefits changed during the quarter to 5th October 2012
What this means for you?
This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. The completion of the form enables HMRC to amend the individual's coding notice to reflect the change in benefit.
Where one car is merely replaced with another, this may be reported online.

Tax events due on October 31

The following Tax Events are due on 31 October 2012:

Deadline for submission of 2011/12 self assessment returns if you require HMRC to compute your tax liability and/or if tax underpaid is to be collected by adjustment to your 2013/14 PAYE code
What this means for you?
This deadline is only relevant for those individuals who complete a 'paper' self assessment tax return and who are employees. Where you have an underpayment of up to £3,000 only, you may request that HMRC collect any tax outstanding by making an adjustment to your tax code for the year 2013/14.
Please note that where your return is submitted online then the filing deadline for 'coding out' is 30 December 2012.
If we have already dealt with this matter on your behalf you need take no action.

Deadline for submitting 'paper' 2011/12 self assessment returns
What this means for you?
This deadline is relevant to individuals who need to complete a self assessment tax return for 2011/12 and wish to file the return in a 'paper' form. Self assessment returns submitted after this date must be submitted electronically.
Please note that this deadline is not relevant if we are going to submit an online return for you or you are going to deal with the completion of an online return yourself. The deadline for submission of online returns is 31 January 2013.
If we have already dealt with this matter on your behalf you need take no action.

Lunch is all about business for Carmarthen businesswomen

A pair of West Wales businesswomen have set up an innovative lunch-time networking forum for businesses called Beyond20. Sarah Wynne, of Chartered Accountants and Business Consultants Clay Shaw Butler, and Jo Watson, of Antur Insurance, have established a new Carmarthen-based forum for ladies to meet for business networking.
The first two lunchtime meetings have been held at the Angel Vaults restaurant in Carmarthen and have been a great success, with more than 20 ladies attending the October event.
The next meeting is planned for Wednesday, November 14, at the Angel Vaults, 12.30pm.
“There are quite a few business networking meetings and organisations around, but nothing quite like this,” said Sarah Wynne, Relationship Accountant with Clay Shaw Butler.
“The first pilot lunch was very successful. The group is aimed at getting businesswomen together to network and discuss the key issues facing businesses in West Wales today. We call the group Beyond20, being a nod to the fact that the proportion of women in senior management is only 20% - the group aims to push that boundary.
“It’s a very novel idea and one which met with widespread approval from the ladies who attended.
“The idea is to hold a lunch on the second Wednesday of the month. Basically, we have seen a gap in the market for networking and our idea was to provide a friendly and reasonably informal forum for like-minded businesswomen in West Wales to get together and help develop their business ideas.
“Lunch starts at 12.30. There is a fixed menu for food and we are developing a structure for the meeting which meets everyone’s approval as we go along. Places at the lunch are on a first-come-first-served basis.”
Anyone interested in attending can contact -
Sarah Wynne FMAAT ACA, Relationship Accountant, Clay Shaw Butler, 01267 228 500, email, SarahWynne@clayshawbutler.com
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website at www.clayshawbutler.com

Pictures above of Sarah Wynne and Jo Watson, top.

Accountant Amanda running half marathon for charity

Clay Shaw Butler accountant Amanda Russell is running the Cardiff half marathon on Sunday.
She is joining a team of five other runners from West Wales raising money for a small country in west Africa called Burkina Faso.
Amanda said: "The United Nations rates Burkina Faso as the world's third poorest country and so they need as much help and money as we can give to allow them a chance to become self sustainable. The money being raised is specifically being put towards flood prevention so please follow the link below to donate. Thanks!
https://www.justgiving.com/teams/BurkinaFaso
"The situation in Burkina Faso is urgent with thousands facing famine NOW. Please give what you can.
"Remember: Donating through JustGiving is simple, fast and totally secure. Your details are safe with JustGiving - they'll never share them with anyone or send you unwanted emails. Once you donate, they'll send your money directly to the charity. They'll make sure Gift Aid (an additional 28%) is reclaimed on every eligible donation by a UK taxpayer, too. That means more money goes to the charity, faster, with JustGiving."
Amanda Russell ATT FCCA is a Relationship Accountant with Clay Shaw Butler chartered accountants and business consultants in Carmarthen.

• The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website at www.clayshawbutler.com

Tax events due on October 19

The following Tax Events are due on 19 October 2012:

PAYE quarterly payments are due for small employers for the pay periods 6th July 2012 to 5th October 2012.
What this means for you?
This deadline is relevant to small employers only. As a small employer with income tax, national insurance and student loan deductions of less than £1,500 a month you are required to make payment to HMRC of the income tax, national insurance and student loan deductions on a quarterly basis.
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd October 2012. Penalties may apply if payment is made late.

PAYE, Student loan and CIS deductions are due for the month to 5th October 2012
What this means for you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by today even if a nil return.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd October 2012. Penalties may apply if payment is made late.

Tax and NI due under a 2011/12 PAYE Settlement Agreement
What this means for you?
This deadline is relevant for employers who have entered into a PAYE settlement agreement to pay tax and national insurance in respect of benefits in kind for their employees for the year ended 5th April 2012.
Where the payment is made electronically the deadline for cleared receipt of cleared payment is 22nd October 2012.

Tax events due on October 5

The following Tax Events are due on 05 October 2012:
Deadline for notifying HMRC of new sources of taxable income or gains for 2011/12 if no tax return has been issued
What this means for you?
This deadline is relevant to individuals who have not received a self assessment tax return for the year ended 5th April 2012 but who believe they have received income or capital gains which will result in a tax liability. Individuals must notify HMRC of their liability so that a self assessment return can be issued in good time for the submission deadline of 31st January 2013.
If we have already dealt with this matter on your behalf you need take no action.

Tax events due on September 19

The following Tax Events due on 19 September 2012:
PAYE, Student loan and CIS deductions are due for month to 5th September 2012
What this means for you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by today even if a nil return.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is Friday 21st September 2012 unless you are able to arrange a 'Faster Payment' to clear on or by 22nd September. Penalties may apply if payment is made late.

Latest 'Looking After Business' column from the Carmarthen Journal

 

Looking after business, the business page column from the Carmarthen Journal . . .
by Nigel Roberts, finance and banking specialist with Carmarthen-based accountants Clay Shaw Butler

Making sure you have adequate finance is a fact of life if you run a business.
Whether you are looking to expand, undertake a specific project or simply fund your day-to-day purchases, finance is essential.
Obtaining finance is not always easy, especially if yours is a small business or a recent start-up. Borrowing may be difficult due to lack of security.
A grant may be the answer.
What is a grant?
A grant is a sum of money awarded, by the government or other organisation, for a specific project or purpose.
Normally it will cover only some of the costs (typically between 15% and 50%); the business will need to fund the balance.
One of the main features of a grant is that the money is not repayable provided that the terms and conditions of the grant are met. But, having said that, their availability is limited and competition for the funds can be quite intense.
Grants can be simple in principle. In practice, however, they can be somewhat daunting because of the huge number of different schemes in operation and the fact that schemes are constantly changing.
Government grants are distributed through a variety of ministries, departments and agencies both on a national and local basis.
The following website may help with initial research into grant availability:
www.businesslink.gov.uk
The European Union is also a provider of funds, mainly through the European Commission which administers a large number of schemes.
Is my business eligible?
Many of the available schemes are open to all without restriction. Eligibility for others will generally depend upon three main factors:

• geographical location of the business. For example, some schemes are targeted in areas of social deprivation or high unemployment
• size of business. For example, some schemes are restricted to smaller businesses
• industry or sector in which the business operates. For example, some schemes aim to tackle particular problems or issues affecting an industry sector.

I’ll take a closer look at making grant applications in my next column.
At Clay Shaw Butler, we can help you to find an appropriate source of grant funds. We can also assist with your business plan and detailed application.
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website atwww.clayshawbutler.com

The July 'Looking After Business column

Looking after business, the business page column for the Carmarthen Journal (July). By Ann Thomas, senior consultant with Clay Shaw Butler, chartered accountants and business consultants of Carmarthen . . .

They say that charity begins at home – and I’ve got the aches and pains to prove it! Currently, I am in training for a marathon Paris to Swansea bike ride to raise cash for the Maggie’s cancer centre in Swansea.
Getting ready for a 400-mile marathon means you have to spend hours in the saddle getting fit.
Take the aches and pains out of the equation and you can actually get some thinking done on those practice rides. For example, I was thinking about how to make tax-effective gifts.
You can get tax relief on gifts to UK charities if you give:

• under Gift Aid
• through a Payroll Giving scheme, run by your employer, or
• by making a gift of certain shares or land.

In subsequent columns, I’ll look at other issues, but, for now, let’s concentrate on Gift Aid.
If you pay tax, Gift Aid is a scheme by which you can give a sum of money to charity and the charity can normally reclaim basic rate tax on your gift from the taxman, HMRC.
That increases the value of the gift you make to the charity. So for example, if you gave £10 using Gift Aid in 2011/12 that gift was worth £12.50 to the charity.
You can give any amount, large or small, regular or one-off.
If you do not pay tax, you should not use Gift Aid.
How does a gift qualify for Gift Aid? There are three main conditions. You must:

• make a declaration to the charity that you want your gift to be treated as a Gift Aid donation
• pay at least as much tax as the charities will reclaim on your gifts in the tax year in which you make them (tax credits on dividend income will count towards the tax paid)
• not receive excessive benefits in return for your gift.

You should keep a record of payments made under Gift Aid for each tax year. The time limit for claiming tax relief on Gift Aid donations is four years. This time limit applies to the charity and the individual making the gift.
If you would like to help a charity financially, it makes sense to do this in a tax efficient way. We can provide assistance in determining this for you. Please contact us for more detailed advice.
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website at www.clayshawbutler.com
If you want to sponsor Ann on her bike ride, see the JustGiving website – http://www.justgiving.com/Ann-Thomas27 Or if you want to sponsor Ann directly, call her at Clay Shaw Butler on 01267 228 500 Email -AnnThomas@clayshawbutler.com

New tutorial from HMRC

HMRC have produced a 'Starting your own Business' e-learning tutorial.
See our website - http://www.clayshawbutler.com/ard/eNEWS_Article.asp?AID=518&ID=3097

Best of luck to our Ann

Best of luck to our Ann Thomas, who will be embarking on a charity cycle ride from Paris to Swansea this week - http://www.justgiving.com/Ann-Thomas27

Welcome back to Sarah James

The team at Clay Shaw Butler have extended a warm ‘welcome back’ to 23-year-old Sarah James.
Sarah first started work for Clay Shaw Butler, the Carmarthen-based chartered accountants and business consultants, in 2007.
She worked for the firm for two years while studying to gain her AAT (Association of Accounting Technicians) qualification.
She took a break from accountancy to study a three year degree and gain some university experience, graduating with a BSc Hons in Health, Nutrition and Lifestyle at The University of Wales Trinity St David.
Sarah is a familiar face to Clay Shaw Butler clients as she has also worked there during holidays and breaks from university.
Her next plan is to study with the ACCA (the Association of Chartered Certified Accountants, the global body for professional accountants) from September to become a Chartered Certified Accountant.
Clay Shaw Butler director David Butler said: “I am extremely pleased to welcome Sarah back into the team. We have Investors in People status and we pride ourselves on continuing to invest in the development of Clay Shaw Butler team members.”
Clay Shaw Butler is accredited as a Platinum status Training Office with the Association of Chartered Certified Accountants.
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website atwww.clayshawbutler.com

We'll be at the Pembrokeshire County Show

Our Ann Thomas and Sarah James will be at Pembrokeshire County Show tomorrow. Ring us on 01267 228500 if you want to catch up for a chat.

Our very own GamesMaker!

Our PR guru @rlloydpr is back in work today after volunteering as a GamesMaker at the Olympics. We were chuffed to give him the time off! :)

Enjoy the show!

To our many farming friends: Hope you get time to take a break from work and visit and enjoy the Royal Welsh Show in Builth Wells this week.

Good luck to Bradley Wiggins!

Good luck to Bradley Wiggins in the Tour de France today. Our own Ann Thomas will be doing her own mini 'Tour' next month - all for charity!
See our website news page -
http://www.clayshawbutler.com/news.htm

Tax Event due on August 2

The following Tax Events are due on 02 August 2012:
Deadline for submitting P46 (car) for employees whose car/fuel benefits changed during the quarter to 5th July 2012
What this means for you?
This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. The completion of the form enables HMRC to amend the individual's coding notice to reflect the change in benefit.
Where one car is merely replaced with another, this may be notified online.

Tax events due on August 1

The following Tax Events are due on 01 August 2012:
Additional penalty for failing to submit your 2010/11 self assessment return
What this means for you?
This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Class 4 NI and any capital gains tax liabilities. The 2010/11 return was due for submission to HMRC by 31 January 2012. Where the return is more than six months late a further penalty is charged of £300 or 5% of the tax outstanding, whichever is the higher.
If we have already dealt with this matter on your behalf you need take no action.
Second 5% late payment penalty on any 2010/11 outstanding tax due on 31st January 2012 still remaining unpaid
What this means for you?
This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Class 4 NI and any capital gains tax liabilities.
The balance of any outstanding income tax, Class 4 NI and capital gains tax for the year ended 5th April 2011 was due for payment by 31st January 2012. Where any of the liability is still outstanding a 5% late payment penalty will be added to the outstanding liability. Interest is also charged on any late payments.
If we have already dealt with this matter on your behalf you need take no action.

We're getting in the Olympic spirit!

Getting in the Olympic spirit here at Clay Shaw Butler.
Remembering the day the Torch came to Carmarthen.
See our pic from Lammas Street HQ -

Check out the website . . .

Check out the Resource Centre on the Clay Shaw Butler website. Work out your tax and mortgage etc.
Register on Clay Shaw Butler website to get FREE factsheets covering business and personal issues.
The 'home' page of the Clay Shaw Butler website has been given a tweak with new words and a pic - http://www.clayshawbutler.com/index.htm

Tax Event due on 31 July

The following Tax Events are due on 31 July 2012:
Second payment on account 2011/12 due
What this means for you?
This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Class 4 NI and any capital gains tax liabilities.

Tax events due on July 19

The following Tax Events are due on 19 July 2012:
PAYE quarterly payments are due for small employers for the pay periods 6th April 2012 to 5th July 2012
What this means for you?
This deadline is relevant to small employers and contractors only. As a small employer with income tax, national insurance and student loan deductions of less than £1,500 a month you are required to make payment to HMRC of the income tax, national insurance and student loan deductions on a quarterly basis.
Where the payment is made electronically the deadline for receipt of cleared payment is Friday 20th July 2012 unless you are able to arrange a 'Faster Payment' to clear on or by 22nd July. Penalties may apply if payment is made late.
PAYE Student loan and CIS deductions due for the month to 5th July 2012
What this means for you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by today even if a nil return.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is Friday 20th July 2012 unless you are able to arrange a 'Faster Payment' to clear on or by 22nd July. Penalties may apply if payment is made late.
Class 1A NIC due for 2011/12
What this means for you?
This deadline is relevant for employers who have provided their employees with benefits for 2011/12. These benefits should have been reported by the 6th July and the amount of the Class 1A employer only NI liability due calculated on the form P11D(b). Where payment is made electronically the deadline for receipt of cleared payment is Friday 20th July unless you are able to arrange a 'Faster Payment' to clear on or by 22nd July.

Deadline for share incentives

The following Tax Events are due on 06 July 2012:
Deadline for employers to report share incentives (Form 42) for 2011/12
What this means for you?
This deadline is relevant for companies who have either received a notice to complete a form 42 or who have reportable events for the tax year 2011/12.
Deadline for forms P11D, P9D and P11D(b) for 2011/12 to be submitted to HMRC and copies to be issued to employees concerned
What this means for you?
This deadline is relevant to employers. Details of benefits and expenses provided to employees must be reported to HMRC on the relevant forms P11D. The P11D(b) form is used to calculate the employer only class 1A NI liability.

Our column is in the Carmarthen Journal today

The latest Clay Shaw Butler (accountants and consultants)@clayshawbutler 'Looking After Business' column in the Carmarthen Journal today.

Tax event due on July 5

The following Tax Events are due on 05 July 2012:
Deadline for reaching a PAYE Settlement Agreement for 2011/12
What this means for you?
This deadline is relevant for employers who wish to pay the tax and NI on benefits provided to their employees. Agreement must be reached with HMRC of the benefits and related liabilities which are not to be shown on the forms P11D by this date.

Clay Shaw Butler sponsoring key Law Society seminar

 

Carmarthen chartered accountant and business consultants are sponsoring a key seminar for the West Wales Law Society tomorrow (Thursday).
The seminar has the topic - 'New Anti-Money Laundering Compliance 2012 - How to profit and protect in your firm'.
The seminar is taking place at The Halliwell Centre, the University of Wales Trinity St David in Carmarthen.
David Butler and Nigel Roberts, from Clay Shaw Butler, will make the opening remarks.
The guest speaker will be Tania Tribius of Tower Training.
Tania Tribius LLB AKC FRSA has 20 years experience as a Solicitor and London Partner.
Her specialist expertise is Anti-Money Laundering, Risk Management, general Compliance for Solicitors and Legal Practice Management.
Managing director of legal specialists, Tower Legal, Tania provides in-house consultancy, face-to-face training and precedent materials to MLROs, COLPs, COFAs, Managing Partners and all staff.
Tower Legal (www.towerlegal.co.uk) works with over 2,000 law firms of all sizes throughout Wales, England and internationally.
Tania is an invited member of the Law Society’s Risk and Compliance panel and a Law Society accredited consultant for the Lexcell Practice Management Standard.
A passionate speaker with the interest of those in the profession close to her heart, Tania is well known for her practical tips and tools and an engaging and interesting style which is of lasting benefit.
Registration for the seminar is at 9.30am.
The seminar will cover -
· What does AML in Practice mean for your Firm, its Fee Earners & MLROs in 2012; effective risk management?
· *New* AML Practice Note (6th October ’11)
· *New* AML Case law
· Essential AML Offences and Defences: refreshing essential knowledge
· Practical Scenarios& Frequently Asked Practical Questions
Essential Training for Money Laundering Reporting Officers, Deputy MLROs, Practice Managers, Risk Management Partner, Compliance Officers & Fee Earners of all disciplines
The problems include:
· The greatest shake up and restructuring of the legal profession in living memory
· The continuing financial pressures of the ‘double dip’ recession
· Ever burdensome & increasing AML Compliance obligations faced by all Firms
The solution:
· Practical overview& down to earth explanation of the current AML Regime
· On-going compliance with your compulsory AML Training under the Money Laundering Regulations 2007
3 hours’ fully accredited CPD
All the essential information you need toeffectively Manage your AML Obligations in 2012
‘Demonstrable’AML compliancefor the SRA and investigatory authorities
Protection of the Partners, Firm’s Brand & all Staff.

HMRC release new version of Basic PAYE Tools

HMRC have released a new version of the Basic PAYE Tools which reflect the Budget 2012 changes. See our website -
http://www.clayshawbutler.com/ard/eNEWS_Article.asp?AID=518&ID=3016

Our Donna celebrates her new qualification

Clay Shaw Butler's Donna Jones is celebrating gaining the AAT qualification with the professional body for accounting technicians.
The AAT is the UK’s leading qualification and membership body for accounting staff.
Donna is 28 and from Lampeter.
She is a former pupil of Lampeter Comprehensive School.
She gained a Business Management Degree from Aberystwyth University.
Donna is keen to add to her list of accountancy qualifications and is planning to start her ACCA qualifications in September.
ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. ACCA aims to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.
The association currently supports 140,000 members and 404,000 students throughout their careers, providing services through a network of 83 offices and active centres.
You can contact Donna at Clay Shaw Butler, chartered accountants and business consultants, of Lammas Street, Carmarthen, on 01267 228500.
Email -
donnajones@clayshawbutler.com
Website -
www.clayshawbutler.com

The following Tax Events are due on 19 June

The following Tax Events are due on 19 June 2012:
PAYE, Student loan and CIS deductions are due for the month to 5th June 2012
What this means for you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by today even if a nil return.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd June 2012. Penalties may apply if payment is made late.

Our Ann Thomas gets to meet Wales captain Sam

Our Ann Thomas gets to meet Wales rugby captain Sam Warburton.

P11D deadline looming

The forms P11D, and where appropriate P9D, which report employees and directors benefits and expenses for the year ended 5 April 2012, are due for submission to HMRC by 6 July 2012. The process of gathering the necessary information can take some time, so it is important that this process is not left to the last minute.
For the full story, see our website -
http://www.clayshawbutler.com/ard/eNEWS_Article.asp?AID=518&ID=2975

Tax event due on May 3

The following Tax Events are due on 03 May 2012:
Deadline for submitting P46(car) for employees whose car/fuel benefits changed during the quarter to 5 April 2012
What this means for you?
This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. Where one car is merely replaced with another, this does not need to be reported. The completion of the form enables HMRC to amend the individual's coding notice to reflect the change in benefit.

Changes to household expenses rules . . .

HMRC are increasing the guideline rate which employers can use to reimburse employees for additional household expenses. See the full story on our website - http://www.clayshawbutler.com/ard/eNEWS_Article.asp?AID=518&ID=2941

Tax events due on April 19

The following Tax Events are due on 19 April 2012:
Automatic interest is charged where PAYE tax, Student loan deductions, Class 1 NI or CIS deductions for 2011/12 are not paid by today. Penalties may also apply if any payments have been made late throughout the tax year.
What this means for you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.
PAYE quarterly payments are due for small employers for the pay periods 6th January 2012 to 5th April 2012
What this means for you?
This deadline is relevant to small employers and contractors only. As a small employer with income tax, national insurance and student loan deductions of less than £1,500 a month you are required to make payment to HMRC of the income tax, national insurance and student loan deductions on a quarterly basis.
Where the payment is made electronically the deadline for receipt of cleared payment is 20th April 2012. Penalties may apply if payment is made late.
PAYE, Student loan and CIS deductions are due for the month to 5th April 2012
What this means for you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. The contractors' monthly return showing details of payments made to subcontractors must also be filed by today even if a nil return.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is 20th April 2012. Penalties may apply if payment is made late.

Last minute planning for tax year

The following Tax Events are due:
Last minute planning for tax year 2011/12
What this means for you?
The final deadline of 5th April 2012 is relevant to individuals who have not considered year end tax planning issues. These issues include:
• utilising your annual capital gains tax exemption
• utilising your annual inheritance tax exemption for gifts
• utilising your annual Individual Savings Account investment limit
• making additional pension contributions for 2011/12.

We are in the Carmarthen Journal today

The latest Looking After Business column from Carmarthen accountants Clay Shaw Butler is in the Carmarthen Journal today.

Pensions timetable revised

The timetable for the introduction of Pensions Auto Enrolment has been revised for smaller employers - http://www.clayshawbutler.com/ard/eNEWS_Article.asp?AID=518&ID=2882

Tax event due on March 19

The following Tax Events are due on 19 March 2012:
PAYE, Student loan and CIS deductions are due for the month to 5th March 2012
What this means for you?
This deadline is relevant to employers who have made PAYE deductions from their employees salaries and to contractors who have paid subcontractors under the CIS. The contractors monthly return showing details of payments made to subcontractors must also be filed even if this a nil return.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd March 2012. Penalties may apply if payment is made late.

How we can help construction and property businesses

Check out what we can do for the construction and property sector - http://www.clayshawbutler.com/construction-property-sector.htm

New face at Clay Shaw Butler

There's a new face to welcome you to the Clay Shaw Butler office in Lammas Street, Carmarthen.
Nerys Jones, 25, from Cross Hands, has just joined Clay Shaw Butler as an administrator. Nerys is a former pupil of Ysgol Gyfun Maes-yr-Yrfa in Cefneithin.

Tax events due on March 1

The following Tax Events are due on 01 March 2012:
5% late payment penalty on any 2010/11 outstanding tax due on 31st January 2012 still remaining unpaid
What this means for you?
This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax and Class 4 NI liabilities and any capital gains tax.
The balance of any outstanding income tax, class 4 NI and capital gains tax for the year ended 5th April 2011 was due for payment by 31st January 2012. Where the payment is made late interest will be charged. On 1st March 2012 a late payment penalty of 5% will be added to the outstanding liability.

HMRC bid to tackle fraud

As part of the government's commitment to tackle fraud, HMRC's new Contractual Disclosure Facility (CDF) has been launched. Find out more on our website -
http://www.clayshawbutler.com/ard/eNEWS_Article.asp?AID=518&ID=2840

HMRC now able to accept faster payments

HMRC have announced that they are now able to accept payments made using the Faster Payments Service. This will allow you to make faster electronic payments, typically via internet or telephone banking, enabling them to be processed on the same or next day.
HMRC advise that those wishing to make payments using this method should contact their bank or building society before making a payment to confirm:
the service available to you
whether there are any single transaction or daily limits on the amount you can pay
their latest cut off times for making a payment.
HMRC are also reminding taxpayers to ensure that they always use the correct bank account details and reference number.

Tax events due on February 19

The following Tax Events are due on 19 February 2012:
PAYE, Student loan and CIS deductions are due for the month to 5th February 2012
What this means for you?
This deadline is relevant to employers who have made PAYE deductions from their employees salaries and to contractors who have paid subcontractors under the CIS. The contractors monthly return showing details of payments made to subcontractors must also be filed even if this is a nil return.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd February 2012. Penalties may apply if payment is made late.

PAYE tax codes for 2012/13

HMRC are issuing PAYE tax codes for 2012/13. For more info, see our website - http://www.clayshawbutler.com/ard/eNEWS_Article.asp?AID=518&ID=2837

Electronic changeover for VAT

From 1 April 2012 all VAT registered businesses will be required to submit their VAT Returns online and pay any VAT due electronically, apart from a very small number who will be exempt.
Full story on our website -
http://www.clayshawbutler.com/ard/eNEWS_Article.asp?AID=518&ID=2836

Pledge on late tax returns

HMRC have announced that they will not impose late filing penalties on taxpayers who file their Self Assessment returns on 1 and 2 February 2012.
Full story -
http://www.clayshawbutler.com/ard/eNEWS_Article.asp?AID=518&ID=2835

Tax event due on February 2

The following Tax Events are due on 02 February 2012:
Deadline for submitting P46(car) for employees whose car/fuel benefits changed during the quarter to 5th January 2012
What this means for you?
This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. The completion of the form enables HMRC to amend the individuals coding notice to reflect the change in benefit.
Where one car is merely replaced with another, this can be notified online.

Tax event due on January 31

The following Tax Events are due on 31 January 2012:
Deadline for submitting your 2010/11 self assessment return (automatic £100 penalty if your return is late even if there is no outstanding tax liabilitiy or you return shows you are due a tax refund). Balance of your 2010/11 tax due, plus first payment on account for 2011/12.
What this means for you?
This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Class 4 NI and any capital gains tax liabilities. There is a penalty of £100 if your return is not submitted on time, even if there is no tax due or you are due a tax refund. Continued delay in submitting the return will result in further penalties being incurred.
The balance of any outstanding income tax, Class 4 NI and capital gains tax for the year ended 5th April 2011 is due for payment by 31st January 2012. Where the payment is made late interest will be charged.
The first payment on account in respect of income tax and any Class 4 NI is also due for payment by 31st January 2012.

News on Seed Enterprise Investment Scheme

The government has released information on the Seed Enterprise Investment Scheme (SEIS). See our website - http://www.clayshawbutler.com/ard/eNEWS_Article.asp?AID=518&ID=2791

Tax event due on January 19

The following Tax Events are due on 19 January 2012:
PAYE quarterly payments are due for small employers for the pay periods 6th October 2011 to 5th January 2012
What this means for you?
This deadline is relevant to small employers and contractors only. As a small employer with income tax, national insurance and student loan deductions of less than £1,500 a month you are required to make payment to HMRC of the income tax, national insurance and student loan deductions on a quarterly basis.
Where the payment is made electronically the deadline for receipt of cleared payment is 20th January 2012. Penalties may apply if payment is made late.
PAYE, Student loan and CIS deductions are due for the month to 5th January 2012
What this means for you?
This deadline is relevant to employers who have made PAYE deductions from their employees salaries and to contractors who have paid subcontractors under the CIS. The contractors monthly return showing details of payments made to subcontractors must also be filed even if this is a nil return.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is 20th January 2012. Penalties may apply if payment is made late.