David Porthouse & Co

Carlisle Accountants

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81 Larch Drive, Carlisle CA3 9FJ

Archives for February 2017

Employer Payment Summary by 19 February 2017

 
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 January to 5 February 2017, in which case you must submit electronically an Employer Payment Summary as a NIL return by 19 February. This is too easy to overlook.

If you engage a local accountant and business advisor 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.

CIS Returns to 5 February 2017

 
Construction Industry Scheme returns for the period from 6 January to 5 February 2017 should be submitted online by 19 February. 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 local accountant 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. We aim to be the accountant Carlisle businesses will turn to for a range of advice and services.

A New Legal Challenge

 
The Government is likely to meet a new legal challenge, this time over membership of the European Economic Area. The challenge is something to be welcomed on two points.

Firstly the 2016 Referendum was essentially about sovereignty. A majority of 52% have decided what we knew anyway, that the British Parliament is sovereign, and that no British Parliament can bind its successor. This leaves Parliament free to enter into any number of international agreements, and the EEA is one such agreement to the extent that it does not attenuate sovereignty. EEA membership is therefore a matter for Parliament.

Secondly let’s just waste time with lots of litigation. It gives the Government an excuse to procrastinate, and time is likely to be on our side. While the value of the pound remains artificially depressed, it is European exporters to us who will be struggling. Eventually they will see sense, and it will become easier to negotiate.

What we will have in the long run after Brexit is a 1:1 correspondence between currency zone and political zone. Everybody should find that their zone is much easier to manage. Let’s wish the other zone the best of luck and stop threatening each other. There are any number of things on which we can co-operate, which is always a matter for Parliament.

A Company which has missed the 31 January 2017 Deadline

 
If your company had a deadline of 31 January 2017 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 a Carlisle accountant such as David Porthouse and Co at once. You will incur a penalty of £150, but this penalty rises to £375 after 28 February 2017 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.