Key Dates
19 May 2010 - PAYE and NIC due for the month ended 5th May 2010. Final submission date for employers' year end returns (forms P35 and P14) for the year ended 5th April 2010. Submit Construction Industry Scheme return for the month ended 5th May 2010.
31 May 2010 - Employers to provide employees with forms P60 (year end summaries) for the year ended 5th April 2010.
19 June 2010 - PAYE and NIC due for the month ended 5th June 2010. Submit Construction Industry Scheme return for the month ended 5th June 2010. |
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A Working Holiday
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Richard Green-Wilkinson, Tax Director at CW Fellowes Limited shares his thoughts on a recent visit to Sierra Leone.
"I have been a trustee of the St George Foundation, which rescues street children in Sierra Leone, for four years. I decided to return to the country four years after my first visit. I had one or two jobs to do.
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Penalty Guidance on Late Payment of PAYE
HMRC have been warning employers for some time that they may have to pay a penalty if they do not pay their PAYE deductions on time. They have now issued more detailed guidance on the way in which the penalties will work. The penalties will apply to PAYE deductions due for a period starting on or after 6 April 2010 include PAYE, Student Loan deductions, Construction Industry Scheme payments, Class 1 NICs, annual payments of employers' Class 1A NICs and annual PAYE Settlement Agreements payments.
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National Minimum Wage Rates
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From October 2010, National Minimum Wage rates will increase from
- £5.80 to £5.93 an hour for workers aged 21 and over
- £4.83 to £4.92 an hour for workers aged 18 to 20
- £3.57 to £3.64 an hour for workers aged 16 to 17.
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Furnished Holiday Letting Reprieve
Getting the Finance Bill 2010 passed between when it was published on 1 April 2010 and the dissolution of Parliament on 12 April was always set to be a heavy load in spite of the fact that there were only 73 clauses and supporting schedules.
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HMRC Offer Advice on Fraud Emails
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P11D Deadline Looming
The forms P11D, and where appropriate P9D, which report employees and directors benefits and expenses for the year ended 5 April 2010, are due for submission to HMRC by 6 July 2010. The process of gathering the necessary information can take some time, so it is important that this process is not left to the last minute.
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VAT and Royal Mail Postage
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Online Submission of Employers Forms
The employer’s annual returns P35 and P14 (P60) are due for submission to HMRC by 19 May 2010. Broadly all employers must submit their forms online this year. Previously those employers with less than 50 employees could file paper forms.
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