Cash-back for businesses that file
SMALL businesses could benefit from a cash reward of up to £825 says ACCA (the Association of Chartered Certified Accountants) if they begin to file their payroll year end returns
Glenn Collins, Head of Business Advisory Services at ACCA, said:- "The Revenue is offering the financial incentives to encourage employers with less than 50 employees to make use of the
online filing system before it becomes mandatory in 2010."
The financial benefits for a small employer who files online with effect from the tax year ended 5 April 2005 are:-
2004/5 return (due by 19 May 2005) - £250
2005/6 return (due by 19 May 2005) - £250
2006/7 return (due by 19 May 2005) - £150
2007/8 return (due by 19 May 2005) - £100
2008/9 return (due by 19 May 2005) - £75
Glenn Collins added:- "Businesses should seriously consider taking up this incentive offer - but should act sooner rather than later. This is because there is a delay of 7 working days from a business showing their intention to file
online - to the Inland Revenue sending out an activation code."
Employers will receive the tax-free incentive payment after the year-end returns are successfully filed
online. This amount will be credited to their payment record to reduce any future payments due.
The online service should be beneficial to both employers and employees. For employers it should reduce paperwork whilst employees should suffer less from time delays in changes to company cars or benefits in kind which might otherwise result in an over or under payment of income tax. Employers will also be able to file forms P11D (benefits and expenses) and P46 (notices of new employees)
online and obtain tax code and tax credit information via the internet.
Those unsure of what to do should contact HM Revenue & Customs, or engage the services of a Chartered Certified Accountant.
BE THE FIRST TO LEAP OF THE LIVER
YOU could be one of the first people EVER to abseil down the Royal Liver Building, 105.4 Century FM and 21st Century Kids are looking for 105 brave people to take the Century FM Challenge and help raise thousands of pounds for less advantaged children in the North West.
On Monday 30, May, history will be made with the first ever abseil open to the public taking place down The Royal Liver Building, home of Royal Liver Assurance, one of the infamous 3 Graces found on the beautiful Liverpool waterfront. The clock faces on the building are wider than those of Big Ben in London, with a diameter of 25 feet and the total height of the building is over 200ft.
Charity Manager for 21st Century Kids, Catriona Bryden commented:- "This is a great opportunity for people to play a part in making history, an abseil down the Liver Building has never been open to the public before, people can take part in the opportunity of a lifetime and at the same time raise money for 21st Century Kids which helps less advantaged children, right here in the North West."
A spokesperson for the Royal Liver Building Commented:- "The Liver Building is one of Liverpool's best known landmarks. It was erected in erected in 1908-11 and has always been part of Liverpool's culture. We are hoping that people throughout the North West will take on the challenge and raise for this worthwhile cause."
21st Century Kids raises money to help less advantaged children in the North West; children who are suffering from the effects of things like abuse, neglect, poverty, deprivation, illness and disability.
The money raised will be given to groups such as youth clubs, after-school clubs and homeless shelters to help them fund existing projects or set up pioneering new schemes, which help children in our community.
To participate a form can be downloaded from www.1054centuryfm.com/challenge and all we ask is that you submit a £40 non-refundable deposit and raise at least £160 in sponsorship, which has to be brought on the day.
So to be a part of history as well as raising much needed money register now.