Archive:May 2015

Please find below all the articles from May 2015.

Auto-enrolment exemptions

Friday, May 1, 2015

Have you received a letter from The Pension Regulator (TPR) telling you to “ACT NOW” to prepare for auto-enrolment? The letter gives you just a few weeks to nominate a contact to receive communications about auto-enrolment, with the threat of fines or prosecution if you don’t take action.

The “staging date” for your business will be stated in the letter. This is the date by which you must have a pension scheme ready for your employees to join, if you do indeed need one.

A large number of…

ATED Reporting

Friday, May 1, 2015

The annual tax on enveloped dwellings (ATED) now applies to residential properties worth over £1m that are owned by a company, or a partnership with one or more corporate members, or in some cases a unit trust.

The ATED charge starts at £7,000 per year for properties worth over £1m but no more than £2m, and increases in steps to £218,200 per year for properties worth over £20m. This tax is normally payable to HMRC by 30 April within the year that charge applies to, which starts…

Cancelling VAT or VAT-MOSS Registration

Friday, May 1, 2015

If you registered for UK VAT in order to operate VAT-MOSS for your overseas sales of digital services to non-business customers, you may now find that the administration for such sales is just not worth the hassle. If so you may want to deregister for both UK-VAT and VAT-MOSS, and restrict your sales to UK-based consumers, or businesses located anywhere outside the EU.

The deregistration process for VAT-MOSS must be done online and it will take effect from the end of the calendar quarter in which notice…

Forms P11D and P9D

Friday, May 1, 2015

The forms P11D and P9D need to be submitted to HMRC by 6 July 2015 where expenses or benefits were provided to your employees in 2014/15, which are not covered by a dispensation, or are not otherwise exempt from tax. If the forms are not submitted on time, HMRC will issue penalties.

But how does HMRC know whether a P11D or P9D is due to be filed? In pre-RTI years when you completed the end of year form P35 you had to say whether a P11D was…

Auto-enrolment exemptions

Friday, May 1, 2015

The “staging date” for your business will be stated in the letter. This is the date by which you must have a pension scheme ready for your employees to join, if you do indeed need one.

A large number of small companies…

ATED Reporting

Friday, May 1, 2015

Cancelling VAT or VAT-MOSS Registration

Friday, May 1, 2015

The deregistration process for VAT-MOSS must be done online and it will take effect from the end of the calendar quarter in which notice to deregister…

Forms P11D and P9D

Friday, May 1, 2015

But how does HMRC know whether a P11D or P9D is due to be filed? In pre-RTI years when you completed the end of year form P35 you had to say whether a P11D was due. Those…

Morgan Hemp receive gold accreditation for trainee development

Friday, May 1, 2015

We are delighted to have been awarded a gold accreditation for our trainee development from ACCA (the Association of Chartered Certified Accountants) which is the global body for professional accountants.

The coveted award demonstrates the fact that Morgan Hemp shows the highest commitment to developing our trainee accountants.

Morgan Hemp Director, Martin Hudson said: “We are proud of the service we offer to our clients and our staff are the standard bearers for the Martin Morgan brand, so it is vital to us that every member of our team is…