Call us on 01792 466 428
Book a FREE Consulation

Archive:August 2014

Please find below all the articles from August 2014.

Auto-Enrolment – time to take action

All small businesses will need to be aware of what Auto-Enrolment means for their business, and what their obligations are. Follow these easy steps to create an action plan.

Find out your business staging date
This depends on the number of employees in your PAYE scheme on 1 April 2012. Find out your exact staging date on The Pensions Regulator website,,  all you need is your business PAYE reference. This is the most crucial step to understand when you need to…

Read More

Well done Wales! Junior Touch Rugby Team Crowned Champions of Europe

We’re delighted to be able to congratulate the Wales Under 18s Touch Rugby team on becoming European Junior Touch Rugby Champions.

Following a string of matches against fellow European teams, the Welsh squad faced England in the final of the first ever Junior European Championships and beat them 6-3.

Morgan Hemp is proud to have been able to support the team and thoroughly enjoyed attending the Championships and watching the squad as they deservedly took the title.

Speaking of Welsh victory, Martin Hudson, Director at Morgan Hemp said: “We are delighted…

Read More

Commission Refunds

If you invest through a firm of financial advisers, you may well receive a repayment of commission from that firm each year. In previous years any refunded commission was rolled into the earnings from your investments or set against charges, so you may not have been aware of it. However, from 6 April 2013 the financial adviser must deduct interest from any refunded commission and show the amounts paid and deducted separately on your annual statement .

You should look out for these refunded amounts on your investment statement…

Read More

Accelerated Payments

The Taxman now has the power to demand tax from you if you have used a registered tax avoidance scheme, or if he thinks the tax scheme you have used is similar to one that has been judged to fail by a Court or Tribunal.

For some years most tax avoidance schemes have been registered under the Disclosure Of Tax Avoidance Scheme (DOTAS) rules. Each scheme was issued with a DOTAS reference number, known as a “DOTAS number” or SRN, which had to be shown on tax returns of…

Read More

Maximising Statutory Maternity Pay

Paying statutory maternity pay (SMP) is not optional. It must be paid if your employee qualifies, but the good news is that a small business can recover 103% of the SMP paid from HMRC. A business that pays less than £45,000 of class 1 NICs in one tax year is defined as “small” for this purpose.

In a family business there may be scope for maximising the SMP payable for the first six weeks of maternity leave, and hence getting the Government to refund that SMP with a bit…

Read More

EC Sales Lists

If your business is VAT registered and you sell goods or services into other European countries you must generally also submit an additional form to the Government called an EC Sales List (ESL also known as form VAT101). There are no payments to be made or reclaimed with the ESL, as you do on your quarterly VAT return form, but you must submit the ESL on time or HMRC will charge a penalty for late submission.

If you export goods worth more than £35,000 per year you will need…

Read More