Advisory Fuel Rates from 1/3/2013

HMRC has published advisory fuel rates to operate form 1 March 2013

CST

Hybrid cars are treated as either petrol or diesel cars for this purpose.

If you would like more details regarding the implementation of the new rates, please contact our specialist, Karen Best for further information.

Tax Saving Tips for the Year Ahead

There is a range of tax planning opportunities to consider ahead of the tax year end, some of which expire on 5 April 2013. Why not consider some key strategies to help you minimise your tax liability, whilst looking ahead to the raft of tax and business changes set to take effect in 2013/14.

Click here to see our help sheet on tax savings strategies, contact us on 01656 867167 or email on Karen for further information.

Real Time Information (RTI) Seminar

Real time information (RTI) is one of the biggest changes to payroll since the introduction of PAYE in the 1940’s. It will affect all employers and how they run their payroll systems.

HM Revenue & Customs (HMRC) are introducing RTI in order to improve the operation of PAYE to make it easier to administer and improve the accuracy of their records. This  will then reduce the number of errors made by HMRC and enable them to collect arrears of PAYE & National Insurance Contributions (NIC) more easily.

RTI will require employers to transmit details about the tax and NI treatment of payments to HMRC each time a payment is made. This means that the tax decisions made about payments e.g. whether or not all or part of any payment is tax free, NIC free or both will be included in the RTI submission. Additional employee data, such as the number of hours they work also has to be including in the RTI file and so will need to be gathered for inclusion into the payroll system. Your payroll software will need to be capable of sending the RTI submission direct to HMRC.

Due to popular demand we are running a further 2 courses on the dates below.

We are running 2 free seminars one on Tuesday 12th March 2013 and the other on Wednesday 20th March 2013. Both seminars will start at 9.30am at our office.

Register now at http://www.clayshawthomas.com/events/ or alternatively contact us by email at tellmemore@clayshawthomas.com or telephone 01656 867167

Economic Growth Fund Relaunch

The Welsh Government has confirmed it will relaunch its Economic Growth Fund with £30m in new funding to invest in job creating capital projects in the private sector. The first round of the Growth Fund provided non repayable finance to support businesses with expansion projects. The reintroduced fund will be allocated £10m this year and a second tranche of £20m for 2014-15.

Wales Economic Growth Fund is a short term, fast track fund for business, providing immediate access to capital funding for investments that will create and retain jobs in Wales. The Grants are not repayable or restricted to any specific sectors. All offers are discretionary and made subject to due diligence.

Read more

Financial Forecasts and Planning

With the economic climate looking uncertain and competition strong in 2013, it is essential as a business owner that you look towards the future to ensure that you achieve maximum value from your cash and other assets. If you are planning to invest in new assets or developmental activity, you need to base decisions on reliable, comprehensive budgets, supported by realistic forecasts that encompass the profit and loss and balance sheet, and particularly future cash flows. Once clear budgets and forecasts are in place, these provide key tools for monitoring ongoing performance and analysing where improvements could be made.

Read more

Real Time Information (RTI) Seminar

Real time information (RTI) is one of the biggest changes to payroll since the introduction of PAYE in the 1940’s.  It will affect all employers and how they run their payroll systems.

HM Revenue & Customs (HMRC) are introducing RTI in order to improve the operation of PAYE to make it easier to administer and improve the accuracy of their records.  This will then reduce the number of errors made by HMRC and enable them to collect arrears of PAYE & National Insurance Contributions (NIC) more easily.

RTI will require employers to transmit details about the tax and NI treatment of payments to HMRC each time a payment is made. This means that the tax decisions made about payments e.g. whether or not all or part of any payment is tax free, NIC free or both will be included in the RTI submission. Additional employee data, such as the number of hours they work also has to be including in the RTI file and so will need to be gathered for inclusion into the payroll system. Your payroll software will need to be capable of sending the RTI submission direct to HMRC.

We are running 2 free seminars one on Tuesday 26th February 2013 and the other on Wednesday 6 March 2013. Both seminars will start at 9.30am at our office.

Register now at http://www.clayshawthomas.com/events/ or alternatively contact us by email at tellmemore@clayshawthomas.com or telephone 01656 867167.