If you need to file a tax return for the year ended 5 April 2016, then the deadline is 31 January 2017, after which you may face a £100 fine. Any local accountants in Carlisle can help you with this return, but you should see somebody straight away and not leave things to the last minute.
Archives for December 2016
It is quite common to invoice a customer with terms of “30 days or net monthly account”. Small customers will be expected to pay within 30 days, while large customers will be expected to pay at the end of the month following the month of the invoice, so an invoice sent in November would be settled by 31 December 2016. Large companies do it this way because they may receive several invoices from a supplier, and will want to settle all of them with one payment when they do their computerised cheque run. It would therefore be a good idea for the supplier to have sent a statement at the start of December listing all outstanding invoices. Typically the cheque run would be about the 23rd of December, given the date of Christmas this year. If you give credit and have debts to collect, then you might like to have a discussion with us. We aim to be the accountants Carlisle businesses can turn to for general advice of this nature.
We will close at lunchtime on Christmas Eve, which is a Saturday this year. We will reopen on Monday January 2nd 2017. Other accountants are also likely to be closed for the week after Christmas.
We will look at our e-mails from Wednesday December 28th and deal with anything urgent. Other accountants may also be able to look at their e-mails by remote access and deal with emergencies.
Where we are dealing with business start-ups, the various online processing tasks which we need to complete will proceed just the same over the Christmas break.
Value Added Tax returns for the quarter ended 30 November 2016 are due to be submitted by 7 January 2017, and any payment which is due should be made electronically by the same date.
Small private companies with a year end of 31 March 2016 and into their second or later year of existence should submit their accounts to Companies House by 31 December 2016 in order to avoid a Late Filing Penalty.
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 November to 5 December 2016, in which case you must submit electronically an Employer Payment Summary as a NIL return by 19 December. This is too easy to overlook.
If you engage some local accountants or a payroll bureau to do your wages, then this will be taken care of. In our case we keep a diary and do a batch of payrolls at about the same time each month. Our payroll files are bright yellow like the P30BC booklet so we do not overlook them.
Construction Industry Scheme returns for the period from 6 November to 5 December 2016 should be submitted online by 19 December. This includes NIL returns.
It is too easy to forget the need to submit a NIL return when no payments to subcontractors have been made. If you engage a firm of accountants in Carlisle to do your CIS returns, then this will be taken care of. In our case we keep a diary and do a batch of work at about the same time each month.
If your company had a deadline of 30 November 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 some Carlisle accountants such as David Porthouse and Co at once. You will incur a penalty of £150, but this penalty rises to £375 after 31 December if you still haven’t submitted your accounts. 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.