Johnson Murkett & Hurst

• EMPLOYMENT RIGHTS - STATUTORY LIMITS
  The limit on the amount of the compensatory award for unfair dismissal is set to increase from 1 February 2013. The current maximum of £72,300 is to increase to £74,200 due to inflation. The maximum amount of a week's pay for the purpose of calculating the basic or additional award of compensation.........read more
• HMRC TARGET THOSE WITH OUTSTANDING VAT RETURNS
  HMRC have introduced the VAT Outstanding Returns Campaign, which is an opportunity for taxpayers to bring their VAT returns and payments up to date. To take advantage of the best terms, taxpayers must complete and submit their returns by 28 February 2013. According to HMRC, as many as 50,000 businesses........read more
• ‘TAX CHEATS’ SENTENCED TO OVER 150 YEARS BEHIND BARS
  HMRC have announced that the top ‘tax criminals’ of 2012 have been sentenced to a combined total of 155 years and 10 months behind bars. Details of over 30 of the UK’s top tax cheats have been publicised on Flickr as part of HMRC’s current Tax Evasion Campaign..........read more
• PAYE CODING NOTICES
  HMRC are issuing PAYE tax codes for 2013/14. These new coding notices, which are due to be issued between January and March 2013, will be used against employees’ pay from April 2013 onwards. It is important that these coding notices are checked carefully, as an incorrect code will result in too little or too much tax being deducted from pay or pension payments........read more
• RTI IS COMING
  HMRC are urging employers to get ready for major PAYE changes that come into effect from April 2013. From April 2013 employers will have to submit PAYE returns electronically, using RTI enabled payroll software, each time they pay their employees. The new returns form part of routine payroll procedures and will include details of......... read more
• START UP LOAN SCHEME FOR YOUNG ENTREPRENEURS EXTENDED
  David Cameron has announced a boost to the government’s Start-Up Loans Scheme, with funding being increased by £30 million to £110 million over three years. The upper age limit for applying will also be extended from the current 24 to 30 years old.......read more
• STATE PENSION REFORM
  The government have announced proposals for a new single tier pension. The single tier reforms will restructure the State Pension into a simple flat rate amount from 2017 at the earliest. Those over State Pension age when the reforms are implemented will continue to receive it in line with existing rules..........read more
• CHILD BENEFIT OPT OUT
  The High Income Child Benefit Charge (HICBC) was introduced from 7 January 2013. It mainly applies to a taxpayer who has ‘adjusted net income’ in excess of £50,000, where either they or their partner is in receipt of Child Benefit. The effect of the charge is to claw back some or all of the Child Benefit paid........read more
• DEADLINE LOOMING FOR SELF ASSESSMENT RETURNS
  HMRC are reminding taxpayers that the countdown has begun to the 31 January 2013 self assessment deadline, with just days left for anyone with an outstanding 2011/12 tax return to send it online..........read more
• HMRC BANK ACCOUNT DETAILS FOR EMPLOYERS
  HMRC have updated their guidance to employers on paying PAYE liabilities. From April 2013 employers who make a payment to HMRC by.........read more

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