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Edition 75: July 24th 2008 In this newsletter: News Employers Urged To Prepare For Extra Payroll Charges
Small Business Tax Needs Overall Reform
News Employers Urged To Prepare Extra Payroll Charges Businesses should be ready for additional changes to their payroll systems when new personal tax allowances are introduced this September. The new allowance, which will affect how much some workers receive in their pay packets, is the result of the governments decision, as a way of compensating people for the abolition of the 10p tax rate, to raise the threshold at which employees become liable to income tax. Tax professionals are reminding employers to be aware of the changes, which come into effect on 7 September and may cause some confusion. The new allowance will mean that payroll systems must be updated to accommodate the amended rate. Depending on how much they earn, a number of employees will see fluctuations in their net pay as the amount of tax deducted in September drops by up to 60 pounds but only by up to 10 pounds in the following months of the tax year. If you have any questions or concerns about the changes and how they will affect your business, please do not hesitate to contact us on 01472 345888 or email lizzy.dale@aprobinson.biz
Small Business
Tax Needs Overall Reform The government has been urged to produce a wide-ranging review of small business tax ahead of the next Budget. The call came from the Chartered Institute of Taxation (CIOT) as part of its 2009 Budget representations. The CIOT welcomed the governments decision to defer proposed legislation on income shifting, where owners of a family business take low salaries and distribute the firms income between themselves through dividends as a way of reducing the tax liability of the person who generates the majority of the earnings.
Kate Brown Becomes Chartered Tax Adviser Our Senior Relationship Manager Kate Brown has now gained the accreditation of Chartered Tax Adviser for the firm. The Chartered Institute of Taxation, announced the results from its examinations taken by 878 candidates. Out of this number only 253 passed, a mere 29% pass rate. A big well done to Kate, as the qualification is regarded as the 'gold standard' among tax professionals. Kate Brown also made it to the final of the Young Chartered Accountant of the Year competition last February, recognising excellent contribution to the work place and first rate exam record. Andrew Robinson formally commented to the Telegraph today, "As a firm we take great pride in continuing the professional development of our staff. Increasing our knowledge of the profession allows us to better inform our clients by keeping abreast of technical and ever changing issues within business, government and tax legislation." "Kate's latest success highlights another accolade in our continuing development and positive growth within the region. I am incredibly proud of Kates achievement and extremely honored by our recent recognition at the Northern Lincolnshire Business Awards. All good reasons to crack open a bottle of champagne and celebrate!"
Look out for the A P Robinson & Co float at the Cleethorpes Carnival this Saturday 26th July 2008. We are supporting 20 Charitable care Homes by sponsoring the float and Care Homes Activities Team (CHAT). The float is number 56 and will set off from Sidney Park at 4pm and parade through Cleethorpes main road.
Senior Accountant Position Available We are currently seeking a Senior Accountant to assist with our ever growing workload. The successful candidate will be qualified to at least AAT level and in terms of experience be at least capable of preparing a set of accounts to trial balance. Experience of reviewing the work of other staff members would also be of benefit. If you are interested in joining our highly successful firm then please send your CV in the first instance to:
Pete Coles or email: peter.coles@aprobinson.biz
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