Humphrey & Co News

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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VAT: Return of the 17.5% rate – Measures to help business

November 6th, 2009

On 1 December 2008 the standard rate of VAT was temporarily reduced to 15 per cent. It reverts to 17.5 per cent on 1 January 2010. HMRC recognises that the date of the change may cause problems for certain businesses at a particularly busy time of year so we have introduced two measures to help [...]

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NATIONAL MINIMUM WAGE

October 1st, 2009

The minimum wage is a legal right which covers almost all workers above compulsory school leaving age.
With effect from 1st October 2009, the rates will increase, so it is important to review your employees rates of pay to ensure that they are not being underpaid.
There are different minimum wage rates for different groups of [...]

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