News - Bullimores Chartered Accountants

Bullimores News

Important Dates

19 July 2017 - Second payment on account non-electronic payment deadline for 2016/17 tax year.

31 July 2017 - Second payment on account online payment deadline for 2016/17 tax year.

5 October 2017 - Deadline to register for Self Assessment.

31 October 2017 - Deadline for filing paper copies of Self Assessment returns for year ended 5 April 2017.

31 January 2018 - Deadline to file your Self Assessment return for year ended 5 April 2017.

Introducing our expanded service - Probate and Estate Administration

We are delighted to announce that from January 2016 we are licensed to carry out the reserved legal activity of non-contentious probate in England and Wales by the Institute of Chartered Accountants in England and Wales. Furthermore, we are one of the first accountancy firms in the area to be able to do so.

There are certain protocols which need to be carried out when someone dies. Probate and estate administration is one of these, and possibly the most complex as it requires you to file legal, financial and taxation information about the deceased's estate. Please contact us to see how we can help ease this burden.

Workplace Pensions Law - Automatic Enrolment

You will no doubt be aware that Automatic (or Auto) Enrolment is looming on the horizon. Despite the name, there is nothing automatic about it and employers will have perhaps 6 months preparation work to do to be ready for their Staging Date - the date from which the Workplace Pensions Law applies to your company. We understand that penalties will be harsh - and sympathy scant - for those who miss their Staging Date deadline! So be prepared - diary those dates now!

What you should do now:

1. Find out your Staging Date

- Staging dates are based on the number of people in your PAYE scheme as at 1 April 2012

- Insert your PAYE reference into the box in this link:

http://www.thepensionsregulator.gov.uk/employers/tools/staging-date.aspx

2. Then download and read this leaflet

http://www.thepensionsregulator.gov.uk/docs/automatic-enrolment-main-steps.pdf

- It will take about 10 minutes to read whilst you have your coffee

- It provides an excellent summary of the process Further information is in this link:

http://www.thepensionsregulator.gov.uk/employers.aspx

Changes to Child Benefit - Do you need a tax return?

If you or your partner received child benefit and either of you has an income of over £50,000. There is a penalty for not registering on time for self assessment. If affected you should have registered by 5 October 2014.

There is an option to stop receiving the child benefit or to remain in receipt and to declare the payments for income tax purposes. This should only be decided after careful consideration.

Please contact us if we can assist completing your tax return.

Late filing penalties for companies and limited liability partnerships

Length of period	Private company £	Public company £
Not more than 1 month	150	750
More than 1 month but not more than 3 months	375	1,500
More than 3 months but not more than 6 months	750	3,000
More than 6 months	1,500	7,500

NOTE: If accounts are late for two financial years in a row, the fine will be doubled for the current year

Staff News

Lots of changes at Bullimores! Angie Blackman has retired to spend more time sailing the seas. Elaine Way has joined Bullimores as a consultant. Carolyn Chinn became partner from 1st May and Margaret Brett will become a consultant from 1st June after deciding to step down from partner allowing her more time for holidays! We also bid farewell to Chris Alsop who after qualifying with us as a chartered accountant is making his move to work in London.

Star of the month

Each month the audit office vote for their "star of the month". This can be for any reason that they deem appropriate (i.e. helpful behaviour, nice hair...). The voting is carefully collated and this month the star goes to:

Archie and James

for passing their latest exams