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.
This is the blog for Clay Shaw Butler, chartered accountants and business consultants of Carmarthen and Porthcawl.
Tuesday, 17 July 2012
Sunday, 8 July 2012
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.
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.
Wednesday, 27 June 2012
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.
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.
Thursday, 21 June 2012
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.
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.
Wednesday, 20 June 2012
Clay Shaw Butler sponsoring key Law Society seminar
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.
Tuesday, 12 June 2012
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
http://www.clayshawbutler.com/ard/eNEWS_Article.asp?AID=518&ID=3016
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