Law firm McGrigors have issued a warning to taxpayers to carefully check their annual tax returns. The legal firm had identified a number of cases where taxpayers had been fined incorrectly by HM Revenue & Customs for making incorrect or late payments. According to the law firm, many people won’t query the fines, as the guidance issued by HMRC is unclear, leading taxpayers to believe that an appeal won’t be successful. However, the law states that HMRC can’t issue a fine to any taxpayer who has a ‘reasonable excuse’ for late filing or payment. (more…)
Chartered Certified Accountants & Business Advisors
We are focussing our accountancy skills specifically on small businesses and tax payers in the North West and aim to offer an outstanding service, complete with helpful and trusted advice.
Here at Taylor Roberts, all our accountants are exceptionally knowledgeable when it comes to dealing with your imperative accounts.
Teachers strike and time off for parents
June 28, 2011
As I am sure most of you are already aware teachers unions in England and Wales have voted for strike action to protect their pensions and have confirmed a walk out on Thursday 30 June. This may directly affect you or affect a number of your employees who may have to take the day off work to look after their children if they cannot find alternative childcare.
Do you have to give your employees time off?
An employee has the right to time off to deal with an emergency involving a dependent. An emergency in this respect includes:
“an unexpected disruption or breakdown of care arrangements for a dependent”
Do you have to pay them?
You do not have to pay employees for time off for dependents. However you may choose to do so. Check what your contracts of employment say.
More information is available on the direct.gov website.
HMRC Approved Mileage Rates
April 15, 2011
In the budget HMRC increase the authorised mileage rates for the first 10,000 miles from 40p per mile to 45p from 6 April 2011.
If your employer has not increased the mileage rate they pay you inline with the increased in HMRC authorised rates announced in the budget, then make sure you keep records to claim tax relief (more…)
Penalties for submitting a VAT Return on paper instead of online
April 6, 2011
From April 2011 if you should have submitted your VAT Return online but sent it in by paper instead, you will be charged a penalty. These penalties will apply to returns for accounting periods ending on or after 31 March 2011. (more…)
Year End Tax Planning
February 19, 2011
As now is an ideal time to turn your mind to a review of your personal and business tax strategies, this issue includes a special four-page supplement devoted to year end tax planning tips. (more…)
A Taxing Christmas
December 10, 2010
Have you considered the tax implications of the gifts you give to your employees at Christmas? What about the Christmas Party? Are you aware of the limits you can spend before your employees are subject to a taxable benefit in kind? (more…)
