Humphrey & Co News

Pay for Apprentices and Increases to National Minimum Wage

June 30th, 2010

With effect from 1 October 2010, all apprentices must be paid a minimum of £2.50 per hour. Currently, apprentices in England should be paid at least £95 per week, however apprentices under 19 or in the first year of their apprenticeship are exempt from the National Minimum Wage (NMW). The new proposals coming into force [...]

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June 2010 Emergency Budget Summary

June 23rd, 2010

George Osborne presented his first Budget on Tuesday 22 June 2010.
We have added a full analysis of the Budget to our website and it is available here:
http://www.humph-net.co.uk/general/budget2010/index.htm
A summary of the tax rates which will apply as a result of the Emergency Budget, please also take a look at:
http://www.humph-net.co.uk/general/taxrates2010/index.htm

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Incorrect PAYE Coding Notices

February 2nd, 2010

 
The following announcement was posted on the HMRC website today:
 
Annual Coding: multiple or incorrect Coding Notices – update
We advised you that HMRC recently introduced a new National Insurance and PAYE system and that we are using it to issue tax coding notices for the first time.
The transition to the new system has brought to [...]

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Happy New Year from the Treasury

December 15th, 2009

Pubs, clubs, restaurants and other retail businesses remaining open past midnight on New Year’s Eve will be allowed to continue charging VAT at 15% on their sales until they close or until 6am on 1 January 2010, whichever is the earlier.
Similar arrangements will apply to telecommunications companies in respect of calls and texts made up [...]

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Getting QuickBooks ready for the VAT change

December 11th, 2009

Updating QuickBooks
There is an update available for QuickBooks users to refresh the software so as to be prepared for the VAT rate change.
Intuit Software have compiled a list of FAQs on their site . There are instructions on how to make the rate change in QuickBooks, and once it’s set to the new rate, [...]

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1 January 2010 – Changes to VAT Regime

December 3rd, 2009

There are a number of changes which will affect many businesses from 1 January 2010. Here is a quick summary of the key changes.
 
All Businesses
Change of VAT Rate
 The standard rate of VAT goes back to 17.5% on 1 January 2010. The new VAT fraction to use when a price is stated as being inclusive of [...]

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