Home > Blog > February 2013

The RTI clock is ticking…..

February 18, 2013 by Lyn Lulham

On 6 April 2013, HMRC is changing the way that employers have to report payroll information. It must be filed online on a weekly or monthly basis instead of by annual return – and there are significant penalties for non-compliance.

 

The rules apply to everyone

 

The new system applies to companies that have employees who earn less than the Lower Earnings Limit or are paid on a casual basis or annually. Even if you are one of the 20% of SMEs that don’t use a computer, you are still required to file your returns online at the appropriate times or face penalties.

 

Are you ready?

 

There is more to being ready than simply buying or updating your payroll software – some of the essential action needed BEFORE 6 April is the cleansing of your payroll data to ensure all records are accurate and complete, collection of extra data required by RTI and ensuring that you’re registered for PAYE Online. The first return, a ‘Full Payment Submission’ will then need to be made and going forward you will need to ensure that every payment of earnings is reported on or before the date of payment.

 

JSO clients can rest easy!

 

We have invested in the new software necessary to be compliant with Real Time Information and will deal with every aspect of RTI for you, ensuring as minimal disruption to your business as possible.

 

Do you know of anyone we can help?

 

We would like to help as many businesses as possible with RTI and as such, we’re offering new clients a 20% reduction on the payslip cost for the first 3 months.

 

And existing clients who refer someone new to us are eligible for a voucher – details on our website.

 

 

Penalties Re: Late VAT Returns

February 13, 2013 by Lyn Lulham

 

VAT Returns are due on 28th February!

 

HMRC have recently launched the ‘VAT Outstanding Returns’ campaign as an opportunity for you to bring your VAT Returns and payments up to date – you will need to submit them online and make any payments electronically. The campaign is targeted at businesses that are registered for VAT but still have one or more returns to complete.

 

HMRC will be pursuing as many as 50,000 businesses that have been identified as not having made a VAT Return by the due date and they may carry out checks into your tax affairs or use legal powers to get detailed information about your business and its finances.

 

Submitting your VAT Returns by 28th February will ensure that you face lower penalties than if you don’t come forward voluntarily. By not completing and submitting your VAT Returns by the due date, you run the risk of:

 

  1. Surcharges and penalties on top of the VAT you already owe
  2. HMRC estimating what you owe, which may result in you paying more than is actually due
  3. A criminal investigation into your business and its finances

 

Just Simply Organised are here to help! If you have any business colleagues or contacts that may need assistance with their VAT returns, please tell them to get in touch today.

 

Just Simply Organised Team

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