Blevins Franks

Employer’s Liability Insurance (EL) is one question that raises it’s head quite frequently by contractors and freelancers working through their own limited companies.

So what does EL cover you for and who should have it?

We sought professional advice from Chris Smith of Randell Dorling Limited (authorised and regulated by the Financial Services Authority) who advised us accordingly.

“Under The Employers Liability (Compulsory Insurance) Act 1969 Employers must have EL insurance for at least £5 million to meet any claims against liability for injury, illness or disease to their employees arising out of their employment. However, you should look at your risks and liabilities to decide if you need more cover - most insurers will offer cover of at least £10 million.

Employers are responsible for the health and safety of their employees while they are at work. They, or former employees, may become ill as a result of their work whilst working for you; an employee might claim compensation from you if they believe that you are responsible for injury or disease as a result of working for you.

People who you may think of as self-employed may be considered as your employees for the purposes of EL insurance, what matters is the real relationship with the people who work for you and the degree of control you have over the work they do for you.
To summarise, there are no hard and fast rules but in general you need EL insurance for someone who works for you.

Consider:-

1) Even if I am the only Director and Employee do I need to purchase cover?
If you are a director and an employee then the answer is yes. The company in question is an employer as you will be classed as an employee and therefore the company needs to purchase insurance cover.

2) If the entity is simply a Director (me) and a Company Secretary (eg my partner), do I have to purchase EL?
In this scenario I will assume you mean the person is a sole trader. If there are no employees there is no need to insure. Again if the employer /employee relationship exists you need to purchase insurance cover. So, for example, if the secretary is deemed an employee then cover must be purchased.

3) Should I check that any subcontractors I may use have EL cover?

There are two reasons to check sub contractors have cover for their employees. Firstly, it is good business practice to ensure that your sub contractors are complying with their legal responsibilities and that their employees have the benefit of cover purchased by their employer. Secondly, in some circumstances if the sub contractor does not have cover it is possible that you may be deemed an employer yourself and have liability. This would depend on the employer/employee test mentioned but, although unlikely, it is a possibility.

What do I need to tell my employees?

Your insurer will give you a Certificate of Employers Liability Insurance when you take out or renew a policy. This has to state a minimum level of cover and the business it covers. You must display a copy of this certificate where your employees can easily read it. These must be retained for at least 40 years after the insurance has expired. This is because claims can be made many years after the disease or injury was caused. This requirement is for your own protection in case employees make claims caused in the past.

What happens if I fail to insure?

The law is enforced by the Health and Safety Executive; its inspectors can ask to see your Certificate of Insurance at any time.

You can be fined up to £2,500 for any day on which you are without suitable insurance cover.

If you do not display the Certificate of Insurance or refuse to show it to an Inspector on request you can be fined £1,000.

Do conditions apply to insurance?

A number of conditions will apply to the policy. You need to make sure that if your insurance policy contains conditions you can and do comply with them. Failure to do so may enable your insurer to sue you to recover the cost of any compensation paid.

Why take out EL insurance?

It is compulsory - you have to! BUT
It gives you security against a claim that might otherwise cause you financial difficulty
It gives your employees comfort that any claim that they may have should be met by insurance.

Occurrence based policies

EL insurance is classified under what is called an occurrence based policy.

An Occurrence based Policy could be a policy running in the past which responds to an event that took place in the past (during the period that the Policy was open).

In other words, if an event took place on 14th July 2007, which resulted in a claim in August 2008 then if the policy responding is an Occurrence based Policy then to be of value that policy must have been in existence on 14th July 2007.

EL insurance is relatively inexpensive and quotations are given according to your trade and number of employees.

If you are a client and require further information please contact your Personal Accountant. If you are not please feel welcome to book a free initial consultation.

With thanks to Chris Smith of Randell Dorling Limited for providing this information.

By Phil Richards

November is a month of transition. Summer really is over and people start to think of the cold, of Christmas, of New Year and perhaps about changes they might like to make in the coming year.

This November, it feels even more a time of change. The world’s financial crisis and the historic election of an African-American President for the USA, are just two of the signs that major transition is occurring.

When I consider the seasons, I see a steady constancy: change happens, but (climate change aside) it is a predictable and reliable cycle - we know pretty much what winter weather will be like and we know that come spring, warmth will return… we know that trees lose their leaves but that spring brings new growth.

Human change is less predictable. Although financial markets do follow cycles to a degree over the years, we cannot be sure what will happen next, or when, or how fast or slowly it will arise. In politics, a shift has now taken place which is seen as a great step forward towards important change. And as with both these examples, our lives can change dramatically. This is not just change, as per the seasons, but progress.

Next year does not have to be just like this year. We all have the power to decide we want change and to take steps to achieve it, just as Barack Obama and the voters of the USA did. We also have the ability to learn from mistakes and to implement new plans, just as global financial institutions must do over the coming months and years.

At a deeper level, we also have the flexibility and the intellect to look at changes and say, even when we dislike the change: “what is good in this?”. Nothing is ever unremittingly bad. For those people who did not want Obama, there will still be things they can look back on in a few years time, which they may admit were beneficial in some way. And the financial crisis will turn out to have hidden silver linings in its clouds.

What does this mean at a personal level for individuals such as you or I?

Enormous change is possible
The now-famous 106 year-old black voter in Atlanta has seen progress during her lifetime which she surely could not have believed possible - to go from no right to vote, as both a woman and as a black person, to now witnessing a black President-elect. Obama himself has progressed in just eight years from having his credit card rejected when he attempted to hire a car, and being ineligible to enter the Democratic convention, to where he is today.

Don’t ever believe that something you want cannot be done. It may take time, and the joint effort of many people, but so much that at first appears impossible, is achievable.

To misquote Obama, when someone tells you it can’t be done, say “Yes, it can”.

Silver linings in clouds
I also believe that both these global events hold a change of mood for many of us. The past few decades have been a time of materialism, when ambition for many has been centred around how much money they could earn, the type of home or car they owned, the price they could afford to spend on their holidays, clothes, gadgets, electronic goods etc., and even on techniques and procedures to enhance how beautiful they felt.

We are now being forced to consider cutbacks. For some, this will be very difficult - I do not underestimate the challenges of redundancy, home repossession etc. and I hope that you are not amongst this group. But for many, these extremes will not occur - it will simply be a time to cut back on spending.

Might this be a good thing? Might this lead to fulfillment of different goals? Goals such as feeling happy, contented, fulfilled, experiencing love, developing at a deeper level than simply spending on the next new toy?

When I started Ambition Coaching, I always interpreted ambition in its widest sense: as ‘having something to aspire to’. That something is not necessarily money or traditional definitions of success, such as power, status or prestige. It is the something that will allow you to look back contentedly on a life well lived.

So perhaps this time of reduced spending might bring some unexpected rewards, when we discover simple pleasures again? I am thinking of aspects such as:

- renewed interest in growing our own food, making clothes, knitting, cooking from scratch with fresh ingredients

- free entertainment, such as walking and other outdoor pursuits, dinner with friends, conversation, learning

- de-cluttering (perhaps with the aim of selling unwanted items)

- appreciating the good things which we do have each day

- being generous with your smiles and with kindness, and other free gifts to others

What can you think of? What changes could you make which would simplify your life and reduce outgoings? And importantly, what might be good about this?

I believe we may look back on this time as one when there was a ‘universal sigh of relief’. This might be when we stop chasing more and more money and possessions and start to question what really brings happiness. Although there will be pressures, life endlessly spending is not without its own pressure.

“Our hungers are one of the most obvious manifestations of our self-awareness. We consume more because what we consume disappoints us, and I think once we identify our own hungers and the reason for them, we can find ways of managing zero growth, and downsizing individually and collectively. The best way to do that is to relish and enjoy what we already have.” Raymond Tallis (Extracted from an article at http://www.timesonline.co.uk/tol/life_and_style/health/article4787101.ece)

Learning through loss
Sad as it sounds, humankind seems to learn through loss. It is our knowledge of death which makes us appreciate life. Similarly, pain and crisis - in our work, in our relationships and in life in general - are what teach us about what truly makes us happy.

So, in this time of financial doom and gloom, look for what you can learn about what makes you happy. Then use this to plan your next steps in life.

“If nothing ever changed, there’d be no butterflies.” Author Unknown

Recommendations

1. You may be familiar with the story of ‘Christian the lion’, but if not, take a look at http://tinyurl.com/5hfrcu. The video at the end of the text is heart-warming and shatters perceptions of what is possible, by showing what happens when humans and lions care for each other.

2. Now is a good time to remember Martin Luther King Jr and his great speech, which included the inspirational statements:

“I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character.”

and

“I have a dream that one day this nation will rise up and live out the true meaning of its creed: ‘We hold these truths to be self-evident, that all men are created equal.’”

Whatever your dream, I hope it comes true for you. And if you want to discuss how life coaching might help you to identify and/or achieve it, please get in touch.

By Jacky Pratt

A Deemed Payment is a calculation of earnings less allowable expenses for income earned inside of IR35 legislation to enable the correct level of tax and national insurance contributions (NICs) to be applied.

The Calculation

1) Total all net of VAT income invoiced on the all contracts within the year that are subject to IR35 and the cash equivalent of any benefits received as non-cash, e.g. accommodation provided
2) Deduct 5% from the total of your total net of VAT income
3) Deduct from above figure any other expenses and benefits that can be claimed such as travel and subsistence expenses, (mileage, USA, PIE’s, FSP), subscriptions and any others that were necessary expenses to enable the employee to perform their work
4) Deduct capital allowances (charged against profits on assets that are owned by the Company and enable the employee to carry out their work)
5) Deduct any pensions paid to employees by the Company
6) Deduct employers NIC’s that have been paid on wages and any Class 1a NICS on any benefits paid to employees
7) If the result at this stage is NIL or a negative balance then the calculation stops as there is no deemed payment due
8) On this balance calculate Employers NICS by dividing profit figure by 112.8 then multiply by 100. This gives the deemed payment salary. Profit minus deemed payment is the Employer’s NICS
9) This end balance is the Deemed Payment for which tax and NICS (schedule E) are then calculated and reported on the P60 (employees form) and P35 & P14 (employers annual returns)

A worked example

Andy Another’s contract falls under the IR35 rules. He is contracted to work for 40 hours per week at an hourly rate of £25. His contract duration is for 1 year (48 weeks). The journey to the temporary worksite is 35 miles round trip daily, and John goes and eats lunch in a café near by the site every day. He takes his laptop to work daily which his Limited Company owns. The Company contributes £2500 to John’s pension scheme a year, and pays him an annual salary of £10,000.

1) 40 hrs x £25/ph x 48 wks = 48000

2) 5% of 48000 = 2400

Balance of 48000-2400 = 45600

3) Deduct the total of 35miles x 5 days x 48 wks

= 8400 x 40p = 3360 + 924 meals claimed (4284) = 41316

4) Deduct the capital allowance for the laptop (e.g. value 1200 x 50% = 300) =41016

5) Deduct pension contribution costs of £2500 = 38516

6) Deduct 10000 paid as salary and ER NICs ( 10000 - 5435 allowance 12.8% x threshold totalling 10584) = 27932

7) Deemed payment before ER NICS are deducted = 27932

8) Deduct ER NICs (27932/112.8 x 100 = 24762-27932 = 3170

9) Deduct balance after ER NICs deducted is the actual deemed payment = 24762.

The balance of £24762 is then subject to PAYE schedule E and is due for payment on the 19th May.

HMRC have a Deemed Payment Calculator that you can find here towards the bottom of the page.

If you are a client and require any advice please contact your Personal Accountant. If you are not, please feel welcome to book a free initial consultation.

By Phil Richards

As a result of recent market movement, HMRC have published their revised interest rates on direct taxes, indirect taxes and national insurance contributions paid late and overpaid applicable from 6th November 2008.

The revised interest rates are based on the average base lending rate of 4.5 per cent, calculated in accordance with the relevant Regulations. Coincidentally, the date these rates became applicable is the same day the the Bank of England cut their base rate a further 1.5% to 3%! So will there be more cuts to come? We will keep you informed.

Income tax, national insurance contributions, capital gains tax, stamp duties

The rate of interest charged on income tax, national insurance contributions, capital gains tax, stamp duty, stamp duty land tax and stamp duty reserve tax paid late, tax credits overpayments in cases of fraud, neglect and on penalties charged, and on tax charged by an assessment for the purpose of making good to the Crown a loss of tax wholly or partly attributable to failure or error by the taxpayer changes from 7.5 per cent to 6.5 per cent.

The rate of interest on overpaid income tax, national insurance contributions, capital gains tax, stamp duty, stamp duty land tax and stamp duty reserve tax (repayment supplement) changes from 3.00 per cent to 2.25 per cent.

Petroleum revenue tax, advance corporation tax

The rate of interest for development land tax, petroleum revenue tax (including supplementary petroleum duty and advance petroleum revenue tax), and on advance corporation tax and income tax on company payments which became due on or before 13 October 1999 paid late or overpaid changes from 5.75 per cent to 5.0 per cent.

Income tax on company payments that became due on or after 14 October 1999

The rate of interest on late payment of income tax on company payments which became due on or after 14 October 1999 changes from 7.5 per cent to 6.5 per cent.

Inheritance tax

The rate of interest for late payments or repayments of inheritance tax, capital transfer tax and estate duty changes from 4.0 per cent to 3.0 per cent.

Corporation tax

The rate of interest for either late payments or repayment of corporation tax for accounting periods ended on or before 30 September 1993 (pre CT [pay and file]), changes from 5.75 per cent to 5.0 per cent.

The rate of interest charged on unpaid corporation tax for accounting periods ending on or after 1 October 1993 (under CT [pay and file]) changes from 6.0 per cent to 5.0 per cent.

The rate of interest paid on overpaid corporation tax for accounting periods ending on or after 1 October 1993 (under CT [pay and file]) changes from 2.75 per cent to 2.0 per cent.

The rate of interest on unpaid corporation tax for accounting periods ending on or after 1 July 1999 (other than underpaid CT instalments) changes from 7.5 per cent to 6.5 per cent.

The rate of interest on overpaid corporation tax for accounting periods ending after 1 July 1999, in respect of periods after the normal due date, changes from 4.0 per cent to 3.0 per cent.

Customs duty, environmental levies and tax, excise duties, insurance premium tax and VAT

The rate of default interest charged on:

* underdeclared VAT, air passenger duty, insurance premium tax, landfill tax, climate change levy, aggregates levy;

* excessive repayments of VAT, insurance premium tax, land fill tax, climate change levy, aggregates levy and customs duties recovered by assessment ; and

* late payment of customs duty;

changes from 7.5 per cent to 6.5 per cent.

The rate of statutory interest paid:

* where an official error has caused an overpayment, a failure to claim credit, or a delay in certain repayments of VAT, insurance premium tax, land fill tax, climate change levy, aggregates levy and excise duties; or

* where there has been undue delay in processing a claim for repayment of excise duty and customs duty;

changes from 4.0 per cent to 3.0 per cent.

Section 178 of the Finance Act 1989 and the Taxes (Interest Rate) Regulations 1989 (S.I. 1989/1297) lay down the procedures and formulae for calculating and amending HM Revenue & Customs interest rates that apply to direct taxes, and national insurance contributions.

Section 197 Finance Act 1996 rate and the Air Passenger Duty and Other Indirect Taxes (Interest Rate) Regulations 1998 (S.I. 1998/1461) lay down the procedures and formulae for calculating and amending HM Revenue & Customs interest rates that apply to indirect taxes.

Section 37 Tax Credits Act 2002 and the Tax Credits (Interest Rate) Regulations 2003 (SI 2003/123) lay down the procedures and formula for calculating and amending interest on an overpayment of a Tax Credit in cases of fraud, neglect on penalties charged.

By Sally Richards

With the current economic crisis still in full swing, added to that the enormous increase in the cost of living, there is a certain level of uncertainty within the contracting and freelancing industry.

Whereas some research suggests a surge in the industry as employers will not want the cost and responsibility of having employees and will instead choose contractors; other research implies that businesses will buckle up their belts and postpone projects altogether.

All of this is added stress to our daily lives and we all know that stress can be a killer. On top of the current conditions, imagine what would happen if you suddenly and unexpectedly became ill, disabled or involved in an accident?

Some 2.6 million people in the UK are currently claiming State benefits for illness or disability. 50% have been on these benefits for 5 or more years.
Statistics provided by David Warren, Business Development Manger at LV= show that an ill or disabled person’s claim lasts for an average of seven years.

In a current real life case study provided by LV=

Alan, a 50 year old IT Consultant, had an LV= Income Protection policy for 6 years before suffering from depression. This condition is still ongoing and LV= have been paying the claim for 5 years. LV= will continue to pay until Alan returns to work, dies or the plan finishes its policy term. The income that he is receiving is tax and NICs free and his monthly insurance premiums were waived when he made the claim.

Under new Government legislation effective in October 2008, Alan would be receiving around £119 weekly (statistics.gov.uk show that the average household expenditure is £450 per week) in State benefits. Given the type of illness, it is also likely that he would be assessed as medically able to undertake some kind of work.

This does not take into account the issue of whether or not Alan had any personal savings. Savings of over £6,000 reduce state benefits and those over £16,000 do not qualify at all.

Luckily an LV= Income Protection policy ensured that Alan is incapacitated from his chosen job and not discriminated against being able to undertake any or any suited job. In other words, Alan is not expected to undertake any type of work other than that type of work that he was already doing.

Any savings he may or may not have will still be intact. Alan’s main source of income was through dividends not salary, thankfully, LV= count dividends as income that they can insure. Many other providers in the market do not.

The graph below shows net weekly incomes based on three different salary levels and the level of benefit and percentage decrease in income levels on State benefits.

As the graph shows, someone on £40,000 per annum would take a massive 85% reduction in income.

Income Protection insurance policies can be set up for the period of your working life until the time that your pension kicks in. Monthly premiums are calculated according to age and policy terms.

Mortgage Protection policies can be added in conjunction with the Income Protection and each can run for their own term as necessary giving you peace of mind that you are financially secure should the unthinkable happen.

It is important to keep up future payments, in order to ensure that the cover under the plan continues. At no time during or at the end of the term does this policy provide a surrender or encashment value.

For further information on Protection Insurance policies please contact:
Steve Carruthers on (+44) (20) 73361111
Managing Director
Blevins Franks Financial Management Ltd

By Steve Carruthers

A recent article published by Jon Lunn of The Tax enquiry highlighted that contractors and freelancers in the Television and Film Industry are also suffering the blight of IR35…although seemingly they have had a shorter period of endurance.

Contractors in this industry can apply to HMRC for an LP10 more commonly known as a Lorimer Letter. This LP10 is an authority from HMRC that they are ‘happy’ that the contractor can trade as ’self-employed’ status. Most of the clients insist on having this letter before they use the services of the contractor. Currently, ONLY North East Metropolitan Area Film Industry Unit and Chapel Wharf Area TV Unit issue valid Letters of Authority. The BBC state to it’s contractors that “Letters from any other Tax Office or from Accountants will be ignored; as will Schedule D or any other Tax Reference Numbers provided by the contractor”.

Strange! I would have thought that every HMRC office would operate in the same manner?

One contractor who had been granted the letter year in year out was recently refused. His contractual work was for a few days here and there (to be granted a Lorimer Letter they must be under 10 days in duration). The only thing in his status that had changed was that he had gone from being self-employed to trading through a partnership.

So, why did HMRC refuse?

It is not clear. Mr. Hall (the HMRC officer who declined the Lorimer letter) stated “I note that you are not working on a freelance/casual basis in the film and television industry. You are however providing you services to production companies via the **** Partnership”.(*surname)

And?

Does this then mean that HMRC automatically assume that by providing services through this business entity classifies the contractor as self-employed?

So it would now appear that the contractor now has to define his status as inside or outside of IR35.

Welcome to the bandwagon!

If you are a client and require advice regarding IR35 please contact your Personal Accountant. If you are not, please feel welcome to book a free initial consultation.

Written by Phil Richards

We are now in the last quarter of the fiscal year that you have to file your 2007/2008 self-assessment tax return by January 31st 2009.

As a landlord of a buy to let property receiving income you are legally obliged to declare this to HMRC on your tax return.

You should keep detailed records of all income received and expenses paid, you are legally obliged to retain these records for 5 years although you do not need to submit them with your tax return.

Costs that were ‘wholly and exclusively’ necessary in the course to let out your property are tax deductible, these are known as ‘revenue expenses’. These will include:

Mortgage or loan interest, insurances, utilities, council tax, letting agent fees, accountancy, legal fees, maintenance and repairs but NOT improvements (which are a capital expense).

Where you have small ‘capital expenses’ things such as a vacuum cleaner, garden tools, a new boiler etc, generally items relating to the maintenance of your property; where the item is likely to have a useful life over one year cannot be claimed 100% off your profits. You can claim a 25% deduction in the current 2007/2008 tax year.  Large capital expenditure such as property renovation cannot be claimed from profits but can be deducted against any capital gains tax on the sale of the property.  Ensure you keep accurate records of all expenditure.

You are not able to claim the cost of furnishings when setting up your property to let, you have a choice of either, to claim an annual ‘wear and tear’ allowance of 10% of the rent charged OR deduct the cost of any replacement furniture later on. You cannot claim both and cannot change once you have decided on which route to take.

With effect from 6th April 2008 however, there is good news for capital expenses. The introduction of the new scheme Annual Investment Allowance (AIA) enables you to deduct 100% of all small capital equipment up to a maximum of £50,000 per annum (of your entire property portfolio, not per property) against your profit. This however does not relate to the furniture, this needs to be treated as above.

If you are a client and would like advice please contact your Personal Accountant. If you are not, please feel welcome to book a free initial consultation.

By Phil Richards

It would appear that many contractors and freelancers just aren’t bothering to have IR35 contract reviews despite all the information following the much reported Dragonfly Consulting appeal which was lost leaving John Bessell a massive £100,000 tax bill to pay.

It is hard to believe this is the case given that the vast majority of contractor dedicated sites and forums, not forgetting professional bodies such as The Professional Contractors Group and Professional Passport have publicised huge amounts of information regarding the importance  contracts standing up to HMRC scrutiny.

According to Dave Chaplin, CEO of ContractorCalculator

“Contractor Calculator’s latest survey reveals that many contractors are choosing to avoid confronting serious IR35 issues, despite the fact that IR35 legislation has been in force for over eight years, with many high profile IR35 cases making national headlines”.

Their survey highlighted that:

* 52% of respondents work in IT, 21% in engineering and the remaining 27% work in construction and other sectors

* 63% of those surveyed have been in contracting for two years or less, with 17% between two and five years and 20% for more than five years

* 93% believe they are not caught by IR35, but only 24% have had their current contract professionally reviewed to verify this.

“The last statistic is particularly worrying, especially when combined with the fact that 56% of contractors say they never get their contracts reviewed for IR35 issues, and only 20% do seek professional advice on their IR35 status” stated Chaplin.

Crawford Temple of Professional Passport says that “Contractors should be encouraged to have an independent professional review of both their contract and working arrangements. End clients have typically been nervous of providing such statements to contractors at the start of the contract. The questionnaire sent by HMRC to end clients in the case of a status enquiry is effectively looking to establish these arrangements retrospectively. This additional work and complexity could be reduced by providing confirmation of these arrangements at the outset”.

In the event of an HMRC enquiry, they will look at all the retrospective contracts together with the current one. It is true to say that what has passed cannot be changed, but current and future contracts should be reviewed. It is advisable to seek clarification from the Agency that their contract with the end client reflects the same conditions as their contract with the limited company. Seek confirmation from the end client that what is written in the contract would truly reflect a real live situation.

Under HMRC introduction of Penalties for Errors earlier this year, any investigation that ‘uncovers’ a lack of taking reasonable care when it comes to having an IR35 contract review may attract penalties on any unpaid tax and NICs.

There are many independent professional companies that will carry out an IR35 contract review, fees vary between £75-£200 plus VAT; but the importance of having this contract review cannot be stressed enough.

If you are a client and would like us to independently review your contract please contact your Personal Accountant. If you are not, please feel welcome to book a free initial consultation.

By Phil Richards

Blevins Franks are accredited with both the PCG and Professional Passport

I came across this site largely about HMRC Investigations which, although fun and informative, is not for the faint hearted!

HMRC Is Shite is founded by Ken Frost and as he says the site “is dedicated to the taxpayers of Britain, and the employees of the HMRC, who have to endure the monumental shambles that is Her Majesty’s Revenue and Customs (HMRC)”.

The site has many horror stories of people embroiled with HMRC in tax investigations which may be of interest if you are or have been in a similar situation.

As a little light relief you may find it entertaining!

You too can send in your horror stories (whether you are a taxpayer or employee) about your experiences of the HMRC to Ken Frost by email to ken@kenfrost.com.

Enjoy!

If you are a client and have any concerns regarding HMRC correspondence please contact your Personal Accountant. If you are not, please feel welcome to book a free initial consultation.

By Phil Richards

19 November 2008 - PAYE and NIC deductions due for month ended 5 November 2008. (If you pay your tax electronically the due date is 22 November 2008)

19 November 2008 - Filing deadline for the CIS300 monthly return for the month ended 5 November 2008.

19 November 2008 - CIS tax deducted for the month ended 5 November 2008 is payable by today.

1 December 2008 - Due date for corporation tax due for the year ended 28 February 2008.

19 December 2008 - PAYE and NIC deductions due for month ended 5 December 2008. (If you pay your tax electronically the due date is 22 December 2008)

19 December 2008 - Filing deadline for the CIS300 monthly return for the month ended 5 December 2008

19 December 2008 - CIS tax deducted for the month ended 5 October 2008 is payable by today.