PAYE Archives - Page 3 of 3

Dec 19 2017

Simple Assessments Have Arrived

By admin PAYE, Personal Tax, Potts & Co Accountancy & Business Advice News, Self Assessment

The self-assessment tax return system has been with us for over twenty years now and it is certainly not simple. Pensioners, in particular, find that they are required to submit a tax return each year to report their various different sources of pension and savings income and to pay a…

Sep 19 2017

Why Your P800 May Be Wrong

By admin HMRC, P800, PAYE, Potts & Co Accountancy & Business Advice News

The P800 is the tax calculation produced by the HMRC computer when you have not paid the right amount of tax under PAYE in the previous tax year. If you normally complete a personal tax return you should not be sent a P800 tax computation, as the tax calculation is…

Jun 09 2017

PAYE codes are changing

By admin HMRC, PAYE, Potts & Co Accountancy & Business Advice News

The introduction of real-time information (RTI) was supposed produce more accurate employee PAYE codes, but that benefit hasn't materialised so far. However, from July 2017 HMRC will start to use the RTI data to update employees' PAYE codes on a month by month basis. Employees may see more deductions in…

Jun 04 2017

PAYE penalties

By admin PAYE, Potts & Co Accountancy & Business Advice News

As an employer you need to make your full payment submission (FPS) to HMRC on or before the date you pay your employees. Penalties can apply each time an FPS is late, but HMRC generally doesn't raise a penalty if it is submitted within three days of the date it…

Dec 08 2016

Quarterly Reporting For Agencies

By admin HMRC, PAYE

Employment agencies are required to report to HMRC the payments they make to workers they place with third parties, if those workers are not paid under PAYE. This requirement covers any organisation who finds work for an individual, which can include many agencies or intermediaries. One-man companies who only find…

Dec 08 2016

Working For Public Sector Clients

By admin National Insurance, PAYE, Potts & Co Accountancy & Business Advice News

If you contract through an agency to work for a public sector body, from 6 April 2017 the agency will have to decide whether the contract falls within IR35 or not. If it does, the payment to your personal company will be subject to PAYE and NIC and no 5%…

PAYE

Simple Assessments Have Arrived

Why Your P800 May Be Wrong

PAYE codes are changing

PAYE penalties

Quarterly Reporting For Agencies

Working For Public Sector Clients

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