Sometimes when you are an employer, you might have happened to have made no wage or salary payments at all for a PAYE month such as the month from 6 August to 5 September 2016, in which case you must submit electronically an Employer Payment Summary as a NIL return by 19 September. This is too easy to overlook.
Archives for September 2016
National Insurance is just another Tax
Anyone in self-employment needs to be aware that National Insurance is just another tax for them to pay. It does not benefit them personally in any way. The self-employed need to pay Class IV National Insurance Contributions. These have no effect on the State Pension that will be received upon retirement. We could say that at best, Class IV NICs are paying for someone else’s pension.
CIS Returns to 5 September 2016
Construction Industry Scheme returns for the period from 6 August to 5 September 2016 should be submitted online by 19 September. This includes NIL returns.
Direct Mail
One way to promote your business is to send a letter to everybody telling them what you do. The current cost of a second class stamp is 55 pence, which isn’t cheap, but it could be a good investment.
A Company which has missed the 31 August 2016 Deadline
If your company had a deadline of 31 August 2016 for the submission of its accounts to Companies House, and this deadline has been missed, then you still have something to play for, and you should contact company specialist accountants such as David Porthouse and Co at once. You will incur a penalty of £150, but this penalty rises to £375 after 30 September. These penalties are £300 and £750 if you miss the deadline two years’ running. We can readily prepare and submit your accounts within the month if you contact us now.