HMRC are now accepting faster payments since 16th December 2011 using the Faster Payments Service. You should check with your bank beforehand to ensure this service is available to you and whether there are any daily limits on the amount that can be paid.

Please be reminded that the 31^st October 2011 deadline for paper returns has now passed. If a paper return is sent in on or after 1^st November 2011 a penalty of £100 will be issued automatically regardless of whether there is tax to pay or your tax is paid on time.

Register with HMRC’s online service by 21 January 2012 and your self-assessment can be done online. For more information please refer to HMRC’s website using the link below:

HMRC – Self- Assessment Reminder Information

If you have any questions, we at Just Simply Organised are ready and happy to help.

Over the coming months HMRC will be contacting taxpayers regarding PAYE tax bills. HMRC want taxpayers to be aware that emails may be sent out from scammers claiming to be from HMRC advising them that they are due a tax rebate. Typically they may then ask the taxpayer to provide personal details.

HMRC have stated that if a taxpayer is due a rebate they will only ever be contacted by post. HMRC will never contact customers by telephone, emails or the use of outside companies. If you have any questions, we at Just Simply Organised are ready and happy to help.

For more information please refer to HMRC’s website using the link below:

HMRC - Email tax scam information

As of 1^st October 2011 updates and changes will take affect concerning minimum wages. It is important to be aware of both the current rates as well as the new rates if working out rises in salaries.

The information below is as it is stated on the HMRC website and details all new updates and changes and also provides the rates as they currently stand.

Important updates and changes

The Department for Business, Innovation and Skills has announced the national minimum wage rates from 1 October 2011:

• the adult rate will increase by 15p to £6.08 an hour
• the rate for 18-20 year olds will increase by 6p to £4.98 an hour
• the rate for 16-17 year olds will increase by 4p to £3.68 an hour
• the rate for apprentices will increase by 10p to £2.60 an hour

Current national minimum wage rates

There are currently three different national minimum wage rates and an apprentice rate, which are usually updated in October each year. The rates that apply from 1 October 2010 are as follows:

• for workers aged 21 years or more: £5.93 per hour
• for workers aged 18 to 20 inclusive: £4.92 per hour
• for workers aged under 18 (but above compulsory school age): £3.64 per hour
• for apprentices aged under 19: £2.50 per hour
• for apprentices aged 19 and over, but in the first year of their apprenticeship: £2.50 per hour

Apprentices aged 19 or over who have completed at least one year of their apprenticeship are entitled to receive the full national minimum wage rate applicable to their age.

It is that time of the year again for those whose Year-end accounts are 31^st March 2011. All accounts need to be completed before being passed over to your accountants. Please ensure that all work up to 31^st March 2011 is passed to us at Just Simply Organised along with any queries you may have. This will ensure that Year-ends are submitted accurately and without delay. If there any concerns or queries please contact the office and we will be happy to help!

As you may well be aware ‘phishing’ by fraudsters has once again been circulating due to tax rebates being issued. There has been a surge in fake ‘phishing’ emails being sent since April with more than 46,000 false emails being reported. These emails typically include a link to a cloned replica of the HMRC website whereby it asks for debit or credit cards details. By providing card details it then allows criminal to access your accounts and wipe them clean. Please be aware that HMRC do not send emails or phone. They will only contact you in writing by post. If you do receive any of these emails the HMRC website provides details of what to do.

Please follow the link below for more details from HMRC:

HMRC ‘phishing’ emails information

Please note that HMRC do NOT accept faster payments so when you make your payments for VAT & PAYE please make sure you allow enough time for the money to reach them ie: 3 working days.

The new PAYE changes are set to affect employer annual returns and starter and leaver PAYE forms.

All information for employers of 50 employees or less as of April 2011 need to be sent online to HMRC, this includes;  starter and leaver forms, P45’s,P46’s and pension information.

May 19^th is now the deadline for filing and any that are filed later than this date will receive a penalty. In addition, any that are filed on paper rather than online will now also receive a penalty.

HMRC will also be issuing penalties in two new areas;

• Penalty notices will be issued in April to employers with 50 or more employees who have not filed starter and leaver forms online to HMRC.
• As of May this year penalties are to be sent out for late payment of PAYE, meaning employers will be liable for penalty if they haven’t made payment online or in full from April 2010.

For more information please follow the link below, alternatively please do not hesitate to contact us.

HMRC - Spring PAYE Changes 

As of April 2011 HMRC will be issuing 2010/11 notices and paper returns. They will also include information on penalties detailing the implications of filing and paying late. The penalty issued previously for filing late was £100, now penalties are set to increase over time and as an example if someone is 6 months late they could incur a penalty of up to £1,300.

For more information and a clear breakdown of how penalties may be incurred please follow the link below alternatively please do not hesitate to contact us.

HMRC Self Assessment Penalty Information

We have just launched a VAT calculator on our website which aims to help you with your VAT queries. With VAT rates changing at such a fast rate in recent years the VAT calculator allows for different percentages according to the period being referred to and also allows either net or gross figures to be entered. It’s quick and easy to use and we are hoping it will prove to be a useful addition to our website.