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Latest news from Henry Reevs & Co. accountants in Maidstone and Chatham.

Changes to Class 2 NIC

9th March 2015

From 6 April 2015, Class 2 NIC will no longer be collected via six-monthly bills, instead it is being brought into the Self Assessment system and paid alongside your personal income tax and Class 4 NI liabilities.
RTI Late Filing Penalties Delayed for SME's

4th November 2014

For PAYE schemes with fewer than 50 employees, HMRC has announced that the start date for automatic in year filing penalties for the late submission of RTI returns will be delayed until 6 March 2015. This is a welcome reprieve for smaller employers.
Are you a Small Business Owner or an Entrepreneur?

21st October 2014

According to research by AXA, small business owners in the UK are unlikely to consider themselves to be entrepreneurs. The research found that under 50% of those surveyed identified with the title 'entrepreneur' with many respondents rejecting the label completely.
Savings Decline from Spring - Summer 2014

15th October 2014

According to NS&I (National Savings and Investments), the average amount that people in the UK saved each month fell between spring and summer 2014.
Surge in Growth of UK Micro-Businesses

6th October 2014

A report by insurance group RSA reveals that the number of micro-businesses in the UK has increased by over 40% since 2000.
Tax Abolished on Inherited Pensions

2nd October 2014

The Chancellor George Osborne has announced that the current 55% tax charge on inherited pensions will be abolished from April 2015.
High Income Child Benefit Charges

26th September 2014

We are aware that HMRC are writing to taxpayers who appear to have received child benefit and earned more than £50,000 in 2012/13 but who did not pay the charge via their self assessment tax returns.
SME Owners and the Work/Life Balance

23rd September 2014

A recent survey carried out by card payment provider First Data Merchant Solutions has found that two-thirds of SME owners claim that running a business is a 'constant challenge' with 44% of the 1,000 respondents having missed personal / family occasions due to business commitments.
National Minimum Wage Changes

2nd September 2014

From 1 October 2014 the National Minimum Wage will increase to £6.50 per hour for workers aged 21 and over.
Tax Return Deadline 31 January 2015

28th August 2014

The Self Assessment tax return deadline for all paper returns is 31 October 2014.