PAYE Year End Deadlines Loom

Employers must meet their 2011-12 tax deadlines through April and May or risk fines, HM Revenue & Customs (HMRC) has warned. Following the end of the tax year on 5 April, small firms with staff have been reminded to complete their PAYE (Pay As You Earn) end-of-year paperwork. With most employers now required to file their forms online, the key document to complete is the Employer Annual Return (forms P35 and P14), which must be submitted by 19 May. Even if you are exempt from filing online, your paper form must also reach the taxman by the same date. The Employer Annual Return includes a P14 for each employee and a P35 summary sheet. If you are new to filing online, you need to register for the PAYE online service. Completing the registration process can take up to seven days, and ther... »

Employers Must Hit May PAYE Deadline

Employers have been warned to file their Employer Annual Returns online with HM Revenue & Customs (HMRC) before the 19th May, or risk being charged a late-filing penalty. Employers that miss the deadline will be charged £100 per month that the return is late. Previous concessions have been removed, meaning that all businesses need to be careful to meet the deadline. “Changes came into effect this year, which mean the Employer Annual Returns sent to HMRC after the 19 May filing deadline will almost certainly result in a late-filing penalty.” said an HMRC spokesman. “Last year, no penalty was charged for employers with five or fewer employees, but these transitional arrangements have now ended.” “Previously, an extra-statutory concession gave employers extra... »

Register with HMRC to do your tax online

The Self Assessment online deadline is fast approaching – if you still need to do your Tax Return you must do it online by 31st January. If you’re using HMRC Online Services for the first time, you will have to register for an online account. You will then be sent an Activation Code within 7 days to activate your account. Doing it online has many benefits: it’s safe and secure, helps reduce errors, provides automatic calculations and an on-screen confirmation message when your return is received safely. What’s more, it’s available 24 hours a day, 7 days a week so it’s there at a time that suits you. Registration is quick and easy so do it now, visit For further help, including a ‘Step by Step’ guide to Self Assessment onlin... »

Deadline Approaches for Queen’s Awards Entries

Businesses enjoying outstanding commercial success have until 30 October to enter the prestigious Queen’s Awards for Enterprise, which have been described as the equivalent of a “knighthood for businesses”. The awards, which are free to enter, are open to UK-based firms with at least two full-time employees and a record of commercial success in: international trade innovation sustainable development. For a chance to win the international trade accolade, businesses must demonstrate substantial growth in overseas earnings. To win the innovation award, entrants need to prove substantial development in business performance. In the sustainable development category, firms must be able to show they have advanced or continued their achievements of social or environmental objectiv... »

Ready for the Online Self Assessment deadline?

If you need to complete a Tax Return for the tax year ended 5 April 2008 and haven’t started thinking about it yet, now is probably a good time. The deadline for completing your online Self Assessment (SA) Tax Return is 31 January 2009. But if this is the first year that you have done your Tax Return online, you need to register for HM Revenue & Custom’s (HMRC) Online Services and allow about 7 days to receive your Activation PIN by post before you can get started. As the 31 October deadline for completing a Tax Return on paper has already passed you should now complete it online. If you do not submit your Tax Return online by 31 January 2009 you may get a penalty. But the good news is, doing it online means you can do it whenever is convenient for you – in 2007 over ... »

Self-assessment Tax Deadline Imminent

Self-assessment taxpayers have until midnight on Sunday to hand in their 2006-07 tax returns if they want Her Majesty’s Revenue & Customs (HMRC) to calculate their tax. There is no penalty for skipping the end of September deadline as there is still the midnight 31st January 2008 deadline, but these taxpayers will have to work out their own tax. There are about 9 million self-assessment taxpayers, the majority being self-employed including company directors and partnerships. More complex taxes, including those earning money from the recent surge in buy-to-let properties, are also covered under this system. Tax return forms for the financial year 2006-2007 can be submitted in paper format or by using the HMRC’s online services which have become increasingly popular with arou... »


Small Business Rate Relief Scheme Deadline Looms

Business owners should be aware that the deadline for the Small Business Rate Relief Scheme (SBRR) is fast approaching… »