Prime Blog

September 2016

Offshore tax liabilities? Declare it now for a more favourable rate

Up until 2016 HM Revenue and Customs (HMRC) gave incentives to encourage people to come forward and clear up their offshore tax affairs. That’s no longer the case. Over 100 countries have committed to exchange information on a multilateral basis under the Organisation for Economic Co-operation and Development Common Reporting Standard (CRS). The CRS will increase international tax transparency.

Be prepared, the National Minimum Wage rises on October 1st 2016

As of 1st October 2016 the National Minimum Wage rates for apprentices and different age bands will increase. Last year HMRC investigated more than 70,000 employers and identified £10.3m in arrears for workers. Don’t be one of them.
Kerrie Lucas

27 Sep 2016

Auto Enrolment seminar success

On Thursday 22nd September, Prime in conjunction with the Coventry and Warwickshire Chamber hosted an Auto Enrolment (AE) Seminar to inform business owners what Auto Enrolment is and how it will affect them. The event was hosted in the idyllic setting of the Coombe Abbey Hotel in Coventry, adding a somewhat relaxed atmosphere to an issue many business owners are finding extremely daunting.

The new NI number prefix is causing chaos for payroll departments BUT you can avoid these problems

HMRC have introduced ‘KC’ as a prefix for NI Numbers (i.e. KC123456A) however, they did not communicate this correctly to software providers causing FPS (full payment submissions) to fail.

Be ahead of the game, let us help you prepare for Digital Tax

Last Monday, HMRC released the long awaited Making Tax Digital (MTD) consultations covering specific customer groups and elements of the Making Tax Digital reforms. The biggest reform since the introduction of the self-assessment tax return in 1997.

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