Below are the answers to a few basic and common questions about the new Real Time Infomation scheme. The Inland Revenue have issued Employers Bulletin no 42 which is a useful guide to further your reading, Click here to read it.
I met up recently with Malcolm Scott-Walby of Scott Walby solicitors based in Poole, Dorset.
Scott Walby LLP Tel: 01202 311 112
I’ve met Malcolm on a number of networking events over the years. I find Malcolm’s approach to be very inspiring and we got to talking about staff and sub-contractors contracts of employment. Something I have to pay attention to employing my own staff.
There is often a fear expressed to me by clients of employing people, some say:
“they don’t do what you ask of them, they have a stinking attitude, turn up late, go early and cost you endless hastle and additional costs like pensions, sick pay etc etc…”
This may be true for many business owners, but often forgetting one thing. It is about attitude and expectations. If the staff and the employer both have a good attitude and know exactly what to expect of each other, then surely you have cracked most of the issues and for many who adopt the process you get happy efficient staff.
As an example, Malcolm sent me this case summary.
This is a new PAYE procedure that is coming soon. The taxman will have us all believe that RTI (Real Time Information) is a system to make life simpler for employers. In reality its function is to clamp down on businesses that fail to pay their PAYE payments on time.
Read the full article »
When it comes to choosing a firm of accountants, bookkeepers or PAYE experts, the client needs to be sure they are going to be looked after, know that they are getting the best value for money and want to have a good working relationship..
So take a look at and see what the prime entry staff have to say about the business they work in…
We have been looking at new technologies and how to expand our client base. We are very customer focussed and always endeavour to meet our clients at their place of work, however we do have clients that are at opposite ends of the country and this works well for us; using cloud based accounting systems, skype conference calls etc so that we can undertake their accounting needs without the need for face to face meetings etc.
So do you think that small businesses who just want a cheaper service, i.e. year end accounts, tax returns and then a quick summary of key points and areas for consideration, all over the internet and for a fixed fee would be open to this option? Although less customer focussed for someone just needing the basics and very cost concious this could be good.
We are interested in offering something different to the market – feedback greatly appreciated
Thanks
Late payments. Two weeks after the end of each tax month employers must pay their PAYE tax and NI. If you pay by bank transfer rather than by cheque, you get an extra 3 days to settle up. But what happens when the due date is on a weekend? In the past not a problem, you just got a little red demand, which you ignored and that was that.
The taxman can now charge a penalty for late payment for PAYE, even if it is due to the banking system and weekends.
So make sure you have updated your diary to ensure you don’t miss the date.
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