Carpenter Keen

Carpenter Keen LLP, Chartered Accountants, Business and Tax Advisors

Current Issues

Self-Assessment Deadlines
Personal tax returns for 2017/18 are due by 31 January 2019, and the balance of your tax for 2017/18 is due on the same date.  You may also be required to make a payment on account for 2018/19 at the same time.

The penalty regime for late filing is more severe than in earlier years: an initial penalty of £100 is due even where there is no tax liability; where the return is three months late, additional daily penalties will apply.

We will be pleased to look at your tax position and advise you whether you should submit a return, and whether any payments or repayments are due.

RTI - PAYE in real time
Since April 2013, employers have been legally required to report PAYE in real time. This means that information about all PAYE payments needs to be submitted to HMRC online each time a payment is made as part of the payroll process, rather than at the end of the year as they are now.

There are penalties for late submissions and late payment of PAYE/NI. The introduction of these penalties was been delayed for small employers, but these employers may start to incur penalties from April 2015, if they do not have systems in place to ensure that all returns and payments are made on time.

We will be pleased to look at your company's payroll requirements and to help you adapt to the new system.

Pension auto-enrolment
All employers will have to provide workers with a workplace pension scheme by law over the next few years. This is called ‘automatic enrolment’. The biggest employers started doing this in October 2012, and smaller employees are required to follow suit by stages.

HMRC will advise you when you are required to comply with the new rules.  We will be pleased to advise on the possible impact and any actions you should take.

Self-Assessment Deadlines
Tax returns for 2017/18 are due by 31 January 2019, together with the balancing payment for 2017/18 and the first payment on account for 2018/19.
RTI - PAYE in real time
HMRC has introduced a new way of reporting PAYE - called Real Time Information, or RTI - which has been mandatory since April 2013.
Pension auto-enrolment
Arrangements are being introduced for all employers to contribute to pension schemes for employees.
Telephone: 020 8940 5840 Fax: 020 8940 5408
Carpenter Keen LLP is registered in England as a limited liability partnership No OC318329.
A full list of members is available at our registered office, shown on the Contact page.
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