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.