Newsletter...
September 2011 - ENEWS
In this month’s enews we report on increases to the NMW rates. Please contact us if you would like any further details on any of the issues covered.
- NATIONAL MINIMUM WAGE RATES
The adult rate of the National Minimum Wage (NMW) increases to £6.08 (£5.93) an hour from 1 October 2011. This is payable to those age 21 and over. The rate for those aged 18 to 20 increases to £4.98 (£4.92) and for 16 and 17 year olds to £3.68 (£3.64) an hour. The apprentice rate, for apprentices under 19 or 19 or over and in the first year of their apprenticeship, increases to £2.60 (£2.50) and hour........read more - ADVISORY FUEL RATES FOR COMPANY CARS
New company car advisory fuel rates have been published to take effect from 1 September 2011. HMRC’s website states: ‘These rates apply to all journeys on or after 1 September 2011 until further notice. For one month from the date of change, employers may use either the previous or new current rates, as they choose. Employers may therefore make or require supplementary payments if they so wish, but are under no obligation to do either.’.........read more - AGREEMENT WITH SWITZERLAND TO SECURE BILLIONS IN UNPAID TAX
The government has agreed measures with Switzerland to tackle offshore tax evasion. Under the terms of an agreement, existing funds held by UK taxpayers in Switzerland will be subject to a significant one-off deduction of between 19% and 34% to settle past tax liabilities...........read more - UNEMPLOYMENT FIGURES
The latest unemployment figures show the number of people out of work rose by 80,000 to 2.51 million in the three months to July 2011. Neil Carberry, CBI Director for Employment Policy, said: ‘This rise in unemployment is troubling, particularly the growing number of young people out of work...........read more - HMRC REMINDER ON NEW TAX RETURN PENALTIES
HMRC are reminding individuals and businesses about new Self Assessment penalties for late returns and late payments, which come into effect this autumn. The changes will apply to Self Assessment returns for 2010/11 which must be submitted by 31 January 2012. As stated on the HMRC website............read more - SCHOOL CHARITIES - GIFT AID AND PAYROLL GIVING GUIDE
HMRC have published a Gift Aid and Payroll Giving guide for School Charities. The guide contains information and simple examples specifically related to funds received by school charities to help make the most of these donations and identify what qualifies for Gift Aid. The guidance covers the following scenarios............read more - REVISED CONSTRUCTION INDUSTRY PENALTIES
From October 2011 the late submission Construction Industry Scheme monthly returns will result in revised penalties. The penalties are as follows.........read more - HMRC REPORT INCREASE IN PHISHING SCAMS
HMRC have confirmed that reports of fraudulent ‘phishing’ emails have risen by 300% over the past year. The figure for August 2011 was 24,000. HMRC are currently helping to shut down around 100 scam websites a month. They are stressing that if anyone receives an email claiming to be from HMRC advising that they are due a tax repayment that they do not follow the email’s instructions..........read more
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