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Updated information regarding Payroll

We have now moved all of our clients onto Brightpay for Payroll, this means that there will be no wage slips, CIS statements or Tax & NI letters each month, if you have not been put onto our Brightpay system please contact our office and we will resolve this, or if you are having any…Read More

Coronavirus update, Furlough

As it currently stands, furlough payments are given at 80% of your usual wage however, with the government slowly reducing all restrictions and trying to bring back a bit of normality, furlough is going to be reduced to 70% from the 1st July 2021. If you have any queries regarding this change, please don’t hesitate…Read More

Reminder – P11D Forms due by 6 July

Despite the coronavirus lockdowns, HMRC still expect P11D forms reporting expenses and benefits to be submitted by the normal 6 July deadline. Employers need to submit a P11D form to HMRC for each employee you’ve provided with expenses or benefits. Employers also need to submit a P11D(b) form if: You have submitted any P11D forms…Read More

Self-Employment Income Support Scheme (SEISS) update

SEISS fourth grant Claims for the fourth grant have now closed. The last date for making a claim was 1 June 2021. SEISS fifth grant A fifth grant covering May 2021 to September 2021 will be open to claims from late July 2021. The grant is taxable and will be paid out in a single…Read More

Find examples to help you calculate your employees’ wages – CJRS

HMRC have published examples to help you calculate your employee’s wages, National Insurance contributions and pension contributions if you are claiming through the CJRS. Specifically the example for how to calculate the amount you should claim for an employee who is flexibly furloughed during June 2021 has been updated. See: Find examples to help you…Read More

The Office for National Statistics (ONS) – older workers during the Pandemic report

The ONS have published their report on the demographic and economic characteristics of older workers aged 50 years. The main points are that while the impact of the pandemic has been greatest for younger workers, older workers aged 50 years and over have been affected to a greater extent than those in the middle age…Read More

Kickstart Scheme grant – new information for employers

Changes have now been made to show that the Department for Work and Pensions (DWP) may ask employers for their records to show how funding has been spent. There is new information on how the funding is calculated for each young person. Also an update that employers will receive an email telling them how to…Read More

Making Tax Digital (MTD) for VAT – end of “soft landing”

MTD for VAT currently applies to VAT registered businesses with taxable turnover in excess of £85,000, the current VAT registration threshold. From 1 April 2022, MTD for VAT is being extended to all VAT registered businesses. HMRC have updated their guidance in VAT Notice 700/22 regarding MTD for VAT: https://www.gov.uk/government/publications/vat-notice-70022-making-tax-digital-for-vat This publication is essential reading…Read More

Information for Kickstart gateways

Information for Kickstart gateways on how to help employers with the Kickstart Scheme and how to add jobs or employers to the grant agreement has also been updated for the changes noted above. See:  Help employers with the Kickstart Scheme (Kickstart gateway) – GOV.UK (www.gov.uk)

Coronavirus Job Retention Scheme (CJRS) Update

The Coronavirus Job Retention Scheme has been extended until 30 September 2021. Find out more about how the scheme is changing. Claims for furlough days in April 2021 must be made by 14 May 2021. You can no longer submit claims for claim periods ending on or before 31 October 2020. See: Check if you can…Read More

New HMRC Guidance on CJRS Furlough Scheme

On 6 May 2021, HMRC issued further updates on the Coronavirus Job Retention Scheme (CJRS) which employers need to take account of in preparing grant claims from 1 May 2021 onwards. For periods starting on or after 1 May 2021, you can claim for employees who were employed on 2 March 2021, as long as…Read More

The Housing Market

The pandemic has had many unexpected economic effects, but some of the most surprising have been on the property market. Some experts predicted house price falls as a result of Brexit and from the economic fallout of lockdown. In fact, the market boomed up and down the country for much of last year. But when…Read More

Latest version of CEST to check employment status of workers

With the extension of the “off-payroll” working rules to large and medium-sized organisations from 6 April 2021, HMRC have updated their Check Employment Status for Tax (CEST) diagnostic tool to assist those organisations in determining whether the new rules apply to workers supplying their services through personal service companies (PSCs). https://www.gov.uk/guidance/check-employment-status-for-tax Note that once the…Read More

Important Information and changes regarding your payroll for the Tax Year ending 5th April 2022

Below we have highlighted key changes in respect of the running of your payroll for the current tax year Statutory Allowances- The following changes take place on 6th April 2021 – The basic tax code increases to 1270L Statutory Sick Pay increases to £96.35 per week Statutory Maternity/Paternity pay increases to £151.97 The limit at…Read More

QuickBooks Seminar

On the 3/03/21 the staff at Broadbents all took part in the QuickBooks Seminar that was presented virtually, usually we would all travel down to London for a few days to do this but given the current circumstances, we couldn’t. However we was not disappointed! The staff spent the day learning about the challenges the…Read More

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