Posts Categorised: News

Payroll News November 2016

There have been some important changes recently in payroll-related subjects that you need to know about.   Auto Enrolment Pension You are probably aware that Auto Enrolment applies to all employers however large or small. If you haven’t started the process of setting up a workplace pension yet, remember that Lewis Smith & Co. can help…. Read more »

Holiday Pay and Annual Leave

Are you up to speed on the rules? This is an area that has caused concerns for many employers and is something that is constantly changing as tribunal rulings and new legislation are updated. Currently the statutory holiday leave for a full-time employee is 28 days, while part-time employees’ entitlement is adjusted pro-rata. By law employers… Read more »

Online Payslips

Another step forward in business digitisation This is a new, digitally secure way of sending payslips to your employees. By law you have to give your employees a payslip. By using the online payslips system, your employees will all receive their weekly/monthly pay information directly (by electronic means). Should they lose copies, all previous payslips… Read more »

VAT MOSS compliance

Follow the rules for Electronically Supplied Services in the EU If you offer electronically supplied services such as information downloads and eBooks to consumers in the EU then you need to follow the VAT rules.  Since January 1st 2015 VAT needs to be calculated on the basis of the appropriate rate in the purchaser’s country…. Read more »

Declared Your Credit Card Sales?

HMRC says tell us now or face the consequences HMRC’s Credit Card Sales Campaign is a voluntary disclosure facility for businesses who take credit card and debit card payments and who may not have reflected all of the transactions in a tax return. The campaign is an opportunity to come clean about both accidental and… Read more »

Personal Savings Allowance

A little bonus for your tax return? Back in April we highlighted that HMRC had introduced a tax-free allowance of £1,000 on savings interest. Since many of you will be busy preparing your tax returns (you are doing that aren’t you?) it is worth reiterating some of the details of the allowance. Basic rate taxpayers are… Read more »

Tax on Children’s Income

Children’s income is theirs, but… For taxation purposes a child’s income (where children refers to stepchildren, illegitimate and adopted children) is theirs regardless of their age. In addition they benefit from a full personal tax allowance and are subject to all of the normal tax bands and rates. Here comes the “but”. For unmarried children under the age… Read more »

Charity Quiz Success

And the winner is…The Friends of Alfie Johnson The Annual Quiz 2016 fundraiser for Black Country charity The Friends of Alfie Johnson passed in great style on Friday October 14th. With a record 50 teams entering there was an air of anticipation in the hall of Dudley College of Technology. Anticipation from participants about who… Read more »