Real-time online accounts to replace annual tax returns

End-of-year paper tax returns will be scrapped in favour of “real-time” online accounts by 2020, Chancellor George Osborne announced.

The Budget confirmed plans to switch to “digital tax accounts” by 2020, ending the annual rush to file a tax return.

Instead, individuals and small businesses will submit accounts throughout the year via computer, tablet or smartphone.

Mr Osborne called it “a revolutionary simplification of tax collection”.

People will be able to pay their tax at any point throughout the year.

They will ...

Continue Reading →
0

Auto-enrolement Pensions – Fact Sheet

The law on workplace pensions has changed. Every employer with at least one member of staff now has new responsibilities, which include enrolling employees, who meet certain criteria, into a workplace pension scheme and contributing towards it.

This is automatic enrolment. It is so named because it’s automatic for your staff – they don’t have to do anything to be enrolled into the pension scheme. But it’s not automatic for employers. You need to take steps to make sure they’re enrolled.

All ...

Continue Reading →
0

Moving Clouds Improves Service as Accounting Software Business Expands

DSCN9087_optimisedAn accounting software firm has moved its cloud services provision from London to Shropshire as part of expansion plans.

ICANetwork is a bookkeeping and accounting system developed by Mark Brawn of Wolverhampton-based White Whale Software and Nigel Hinton of Shrewsbury chartered accountants Andrews Orme & Hinton.

They have just signed a contract with leading internet service provider Unitron Systems of Stafford Park ...

Continue Reading →
0

NATIONAL MINIMUM WAGE

The national minimum wage adult rate will increase to £6.19 per hour for 2012/2013, with effect from 1 October 2012.

This represents an increase of 1.8% from the 2011/2012 national minimum wage adult rate, which currently stands at £6.08 per hour (from 1 October 2011 to 30 September 2012).

The 2012/2013 national minimum wage adult rate (at £6.19 per hour) is therefore set 11p per hour higher than the 2011/2012 rate of £6.08 per hour.

National minimum wage rates for younger workers frozen ...

Continue Reading →
0