Johnson Murkett & Hurst

• REAL TIME INFORMATION
  HMRC are planning to introduce significant changes to the way in which PAYE information is submitted to HMRC. Currently employers send details of employees pay, tax and national insurance deductions at the end of the tax year (forms P35 and P14). The deadline for the submission of this year’s forms is 19 May 2011............read more
• CHEQUE GUARANTEE CARD SCHEME TO END
  It has been announced that the Cheque Guarantee Card Scheme will come to an end. The closure of the Scheme means that it will no longer be possible to guarantee a ‘domestic’ cheque using a card after 30 June 2011. The decision to close the Scheme was taken by the Payments Council as guaranteed cheque use is in decline............read more
• PENALTIES ON LATE PAYMENT OF PAYE
  HMRC have been warning employers for some time that they may have to pay a penalty if they do not pay their PAYE deductions on time. The penalties apply to PAYE deductions due for a period starting on or after 6 April 2010 include PAYE, Student Loan deductions, Construction Industry Scheme payments, Class 1 NICs............read more
• NATIONAL MINIMUM WAGE RATES
  The National Minimum Wage (NMW) is a minimum amount per hour that most workers in the UK are entitled to be paid. The rates are reviewed each year by the Low Pay Commission and from 1 October 2011............read more
• P11D DEADLINE LOOMING
  The forms P11D, and where appropriate P9D, which report employees and directors benefits and expenses for the year ended 5 April 2011, are due for submission to HMRC by 6 July 2011. 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............read more
• ONLINE VAT RETURNS
  HMRC have confirmed that all businesses will have to complete online VAT returns and pay their VAT liabilities electronically from April 2012. Currently many businesses have to comply with these rules. However smaller businesses, registered prior to 1 April 2010 with an annual turnover of less than £100,000............read more
• IMPLEMENTATION DATE ANNOUNCED FOR THE BRIBERY ACT 2010
  At the end of March 2011, the Justice Secretary, Kenneth Clarke announced that the Bribery Act 2010 will come into force on 1 July 2011. The new Act replaces, updates and extends the existing UK law against bribery and corruption...........read more

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