Ktc Accountants Limited

Christmas Closing Dates

noreply@blogger.com (ktc Accountants) — Wed, 14 Dec 2016 14:12:00 +0000

Our office is closed from
Lunchtime Friday 23rdDecember And will re-open on
Tuesday 3rd January

Tax Free Protection Insurance

noreply@blogger.com (ktc Accountants) — Tue, 07 Jun 2016 16:03:00 +0000

We now offer our clients an insurance policy from QDOS Vantage to cover our professional fees incurred as a result of dealing with tax investigations from HMRC.

Please see our main page for details www.ktcselby.co.uk

or click here for a quote http://ktc.qdosconsulting.com/home/tfp-insurance

Christmas Closing Dates

noreply@blogger.com (ktc Accountants) — Tue, 15 Dec 2015 12:21:00 +0000

Our office is closed from
Lunchtime Thursday 24thDecember And will re-open on
Monday 4th January

For any urgent matters please email: enquiries@ktcselby.co.uk

National Living Wage

noreply@blogger.com (ktc Accountants) — Wed, 09 Dec 2015 09:18:00 +0000

From 1 April 2016, the Government is introducing the National Living Wage, which offers a premium rate on top of the current National Minimum Wage.

If you have employees who are 25 or over and not in their first year of an apprenticeship, from
1st April 2016 you must pay them at least £7.20 an hour.

Note: Employers who don't comply with the national minimum wage are subject to automatic financial penalties. Even if you mistakenly underpay employees, you'll have to pay the penalty. The penalties range between £100 and £5,000 and in the most serious cases, you could also face an unlimited fine.

Minimum Wage Increase as from 1st October

noreply@blogger.com (ktc Accountants) — Thu, 01 Oct 2015 11:08:00 +0000

PLEASE NOTE: as from 1st October 2015 the national minimum wage has increased to the following rates:

Year	21 and over	18 to 20	Under 18	Apprentice
2015 (from 1 October)	£6.70	£5.30	£3.87	£3.30

Christmas Closing Dates

noreply@blogger.com (ktc Accountants) — Mon, 15 Dec 2014 14:07:00 +0000

Our office is closed from
Lunchtime Tuesday 23^rdDecember And will re-open on
Friday 2^nd January

For any urgent matters please email: enquiries@ktcselby.co.uk

HMRC to Issue Payroll Late Filing Penalties from October 2014

noreply@blogger.com (ktc Accountants) — Tue, 09 Sep 2014 15:25:00 +0000

Penalties for the new RTI (Real Time Information) payroll scheme will be introduced from October 2014, so it is essential that RTI returns are sent in to HMRC on time.

Penalties will be issued by HMRC if a submission is not made either on or before the date that you pay your employees.

The late filing penalty you will receive is based on the number of employees within your PAYE scheme shown in the table below:

Number of Employee’s	Monthly Penalty
1 to 9	£100
10 to 49	£200
50 to 249	£300
250 or more	£400

As part of our payroll service we make sure that all submissions are made to HMRC on time (as we have done since RTI started in April 2013), so there is no need to worry.

However If you currently manage your own payroll please get in touch to discuss how we can help run your PAYE scheme and remove some of the stress from being an employer.

www.ktcselby.co.uk

OPEN DAY MARCH 8th

noreply@blogger.com (ktc Accountants) — Thu, 27 Feb 2014 11:13:00 +0000

Confidence in the economy is growing

Are you thinking of starting out on your own?

We have an open day on Saturday March 8th and would welcome anyone who is considering starting their own business to come along for some free advice. There is absolutely no obligation and no hidden costs. There is no need to make an appointment, however this is recommended to ensure that someone is available at the time you wish to call.

Also if you are already in business and contemplating a change of agents why not come along for a chat to see what we can offer? – again there is no obligation or cost involved.

Please visit our website for full details of the services that we offer and to book an appointment, or telephone for further advice.

www.ktcselby.co.uk

KTC ARE CURRENTLY RECRUITING!

noreply@blogger.com (ktc Accountants) — Thu, 20 Feb 2014 13:39:00 +0000

KTC ARE CURRENTLY RECRUITING:

Accountancy Senior/Semi-Senior

Due to continued expansion an opening has arisen for a person with experience in accounts preparation, VAT returns, book-keeping and payroll.

The ideal candidate need not be fully qualified but will ideally have practice firm experience.

All applications received in strict confidence.

e-mail sarah@ktcselby.co.uk or tel. 01757-706706

Website: www.ktcselby.co.uk

Rental Properties

noreply@blogger.com (ktc Accountants) — Tue, 10 Dec 2013 15:39:00 +0000

Do you own a property which you rent out and currently pay for replacement curtains, carpets & kitchen appliances? if so then read on.

Unfurnished Lettings

As from 6^th April 2013 the Revenue have abolished the renewals basis. Up to this time it was possible to claim tax relief on such expenditure as the replacement of curtains, carpets and kitchen appliances. Expenditure of this nature will no longer attract tax relief. Consequently in the future it would be advisable to ensure that the tenants incur the cost of these items and in return you may wish to reduce the rent accordingly?

Furnished lettings

Wear and Tear allowance continues to be given at 10% of the rental income (after taking account of expenses paid that are normally the tenants responsibility) In order to qualify for this relief it is essential however that the furnishings that you are providing are sufficient in their own right to enable the occupants to experience normal living without them having to add additional items.

Split of rental profits on jointly owned property (where not married or in a civil partnership)

Profits between’ joint owners’ are normally split in accordance with the share owned. This can be stipulated in a declaration of trust and can be varied. In cases where the property is acquired as ‘tenants in common’ the separate ownership of a stipulated share is registered. Joint owners can agree a differing split of the net profit from the actual share owned.

Split of rental profits on jointly owned property – married couples or civil partners

Irrespective of how the property is owned the taxation of profits is on a 50:50 basis unless a declaration of unequal beneficial interest is made

For more information please contact us : www.ktcselby.co.uk/contact

Summer is now officially over !

noreply@blogger.com (ktc Accountants) — Fri, 06 Sep 2013 10:25:00 +0000

After you have packed away the BBQ and dug out your rain coat, Now would be the perfect time (if you haven’t already) to get your books & records into us as the January Tax Return deadline is getting closer by the day!

Work Place Pension Schemes

noreply@blogger.com (ktc Accountants) — Fri, 14 Jun 2013 15:29:00 +0000

You may have seen adverts recently on TV/Radio for work place pension schemes, for most small businesses these do not have effect while late 2015 and we will contact you in due course to discuss further, but if you have any concerns in the meantime please contact our office.

Introduction of Real Time Information (RTI)

noreply@blogger.com (ktc Accountants) — Wed, 07 Nov 2012 14:55:00 +0000

You may have received a letter recently from HMRC regarding the introduction of the new Real Time Information (RTI) scheme which is to be introduced from April 2013. RTI will affect all employers who have a PAYE scheme, We are fully aware of the new scheme and if we currently process your payroll then we will inform you of the changes that we will need to make to how we process your payroll closer to next April when the scheme goes live. For the moment there is nothing extra that you need to do.

What is RTI

Real Time Information (RTI) is the biggest change to PAYE since its inception in 1944 and it has been introduced to keep HMRC more up to date with all employee payments as they happen rather than at the end of the year as we do now, this means HMRC can be more efficient with the issue of tax codes and universal credits.

How will RTI affect your payroll

RTI will require an electronic submission to HMRC of payroll information every time you make payments to your employees, We will undertake this on your behalf as part of the normal payroll service. However it is likely that We will require additional employee information from you that forms part of the submission, again we will contact you nearer the time when the changes are introduced.

If you currently process your own payroll you can download a free sage guide here for more help http://ktcselby.co.uk/Pdf/SAGERTI.pdf

Or for more information you can go to the hmrc website here :
http://www.hmrc.gov.uk/rti/index.htm

If you require more help, or if you currently process your own payroll and wish for ktc to start processing this for you when the scheme goes live you can contact our offices on
01757 706706 and we will be more then happy to help in anyway possible.

Tax Return Deadline !

noreply@blogger.com (ktc Accountants) — Wed, 07 Nov 2012 14:37:00 +0000

The deadline for tax returns to be submitted to hmrc is looming, if we currently do not have your books and records please make sure we have them a.s.a.p so we can complete your tax return ontime by the 31st January deadline.

Enterprise Event - 10th September 2012

noreply@blogger.com (ktc Accountants) — Fri, 17 Aug 2012 14:41:00 +0000

Enterprise Event - 10th September 2012

We will be attending a local enterprise event to offer advice to anyone looking at starting a business. The event will be held at the community house in Selby from 1pm, The event is free to attend.

We hope to see you there !

KTC ARE CURRENTLY RECRUITING:

noreply@blogger.com (ktc Accountants) — Thu, 17 May 2012 10:41:00 +0000

KTC ARE CURRENTLY RECRUITING:

Accountancy Senior/Semi-Senior

Salary range circa.16k to 25k

A fantastic opportunity exists for an Accountant to join our practice.

The ideal candidate need not be fully qualified but will ideally have practice firm experience. You will need to be a good communicator with sound accounts preparation skills.

You will be involved in all aspects of accountancy work including:

Preparing accounts to draft stage for sole traders, partnerships and limited companies
Preparation of VAT returns
Bookkeeping for a wide variety of clients
Regular communication with clients both face-to-face and over the phone

This is an excellent opportunity for a dynamic, committed and reliable person to join this small, friendly team.

All applications received in strict confidence.

e-mail sarah@ktcselby.co.uk or tel. 01757-706706

Website: www.ktcselby.co.uk

Budget 2012 Highlights

noreply@blogger.com (ktc Accountants) — Tue, 03 Apr 2012 10:46:00 +0000

Budget 2012 Highlights

Key points covered in the budget

Personal tax
• Basic personal allowance will increase to £8,105 for 2012–13 and to £9,205 for 2013–14.
• Age-related personal allowances will be restricted and phased out from 2013–14.
• Additional rate of income tax will be reduced from 50% to 45% for 2013–14.
• EIS annual investment limit for individuals will be increased to £1 million from 6 April 2012.

Business tax
• Main corporation tax rate will be cut by 2%, to 24% from 1 April 2012; the small profits rate will remain at 20%.
• Main corporation tax rate will be 23% from 1 April 2013, falling to 22% from 1 April 2014.
• Bank levy will be increased from 0.088% to 0.105% from 1 January 2013 to off-set the reduction in the main rate of corporation tax.
• New reliefs will be introduced from 1 April 2013 for the production of culturally British video
games, television animation programmes and some other television productions.

Stamp duty land tax
• New 7% rate of stamp duty land tax will apply for residential properties of over £2 million.

VAT
• VAT registration threshold will increase to £77,000 and deregistration threshold to £75,000 from 1 April 2012.

Anti-avoidance
• A range of anti-avoidance measures have been announced.
• Government will consult on a “general anti-abuse rule” with a view to introducing legislation in 2013

Tax and National Insurance rates 2012-13

noreply@blogger.com (ktc Accountants) — Mon, 19 Mar 2012 12:11:00 +0000

For the new Tax and National insurance bands please click on the link:

Tax and National Insurance rates 2012-13: Tables - Towers Watson

HMRC changes stance on smartphones !

noreply@blogger.com (ktc Accountants) — Mon, 27 Feb 2012 14:02:00 +0000

BlackBerrys, iPhones and other smartphones will no longer be viewed as benefits in kind, following a change of heart from HMRC.

As a result, employers will no longer need to record smartphones on P11Ds, nor pay Class 1A NICs on the supposed benefits of the smartphones. Employees could seek refunds on amounts paid going back to 2007-08.
...
for more info please see:
http://www.hmrc.gov.uk/briefs/income-tax/brief0212.htm

VAT to be submitted online from April 2012

noreply@blogger.com (ktc Accountants) — Fri, 03 Feb 2012 14:57:00 +0000

Since April 2010 most VAT-registered businesses have been required to submit their VAT Returns online and pay any VAT due electronically. HM Revenue & Customs (HMRC) plans, from 1 April 2012, to extend this requirement to all VAT-registered businesses, apart from a very small number who will be exempt. please click here to find out more :http://www.hmrc.gov.uk/vat/vat-online/moving.htm

New Personal tax rates from April 2012

noreply@blogger.com (ktc Accountants) — Fri, 03 Feb 2012 14:53:00 +0000

From April 2012 the personal tax rate will increase from £7475.00 to £8105.00 please click the link so see more : http://hmrc.gov.uk/rates/it.htm

Reminder : Mileage is 45p

noreply@blogger.com (ktc Accountants) — Fri, 03 Feb 2012 14:49:00 +0000

Just a quick reminder that from 05/04/2011 the mileage and fuel allowance went up from 40p to 45p for the first 10,000 miles, however after 10,000 miles the 25p rate remains the same.

Time to bring in your books

noreply@blogger.com (ktc Accountants) — Fri, 03 Feb 2012 14:46:00 +0000

After the January rush for tax return deadlines, if your books are ready why not bring them in now to avoid next years rush!

Tax returns on time !

noreply@blogger.com (ktc Accountants) — Fri, 03 Feb 2012 14:44:00 +0000

As usual all of our tax returns were submitted before the deadline this year !

Ktc News Section

noreply@blogger.com (ktc Accountants) — Thu, 02 Feb 2012 20:22:00 +0000

Welcome to the new ktc accountants news section where we will try to keep you up to date with business news!