Deadline for 'paper' self assessment tax returns

For those individuals who have previously submitted 'paper' self assessment tax returns the deadline for the 2014/15 return is 31 October 2015. Returns submitted after that date must be submitted electronically or they will incur a minimum penalty of £100. The penalty applies even when there is no tax to pay or the tax is paid on time.

If you would like any help with the completion of your return please do get in touch.

Internet link: GOV.UK Self Assessment

Workplace Pensions – don't ignore it

The Department of Work and Pensions and the Pensions Regulator have launched a new advertising campaign promoting auto enrolment which aims to change the country's perception of pensions in the workplace.

Workie, 'a striking physical embodiment of the workplace pension', will be seen visiting people in different work environments over the coming months, asking them not to ignore him.

The advertisements come with a message, whilst automatic enrolment into workplace pensions has been rolling out across the UK since 2012, it is only now that 1.8 million small and micro employers need to act. In a phased process over the next three years, every employer will have to enrol their eligible staff into a pension scheme, by reference to their staging date.

Pensions Minister, Baroness Altmann, said:

'We have made great strides forward by automatically enrolling more than 5 million people into a workplace pension - now the challenge is to make sure hardworking people with every type of employer get to enjoy this major financial benefit.
This is a fun and quirky campaign but behind it lies a very serious message. We need everyone to know they are entitled to a workplace pension - and we need all employers to understand their legal responsibility to their staff, but also to feel more positive about engaging with workplace pensions.

This government is committed to providing security for working people at every stage of their lives, and that includes giving people the chance to plan for a financially secure retirement. Automatic enrolment is a big part of that.
Since 2012, more than 5.4 million workers have been automatically enrolled into a workplace pension by almost 61,000 employers. By the time the process is complete in 2018, it is estimated that around 9 million workers will either be newly saving or saving more into a workplace pension thanks to the policy.

The new campaign will include radio, print, online and outdoor advertising and will run for the remainder of this year and into 2016. It is being coordinated jointly by the Department for Work and Pensions and The Pensions Regulator.'

If you would like help with pensions auto enrolment please get in touch.

Internet links: GOV.UK news www.workplacepensions.gov.uk

Tax helpline for those affected by severe weather and flooding

HMRC have set up a helpline (number is 0800 904 7900) and will enable anyone affected to get practical help and advice on a wide range of tax problems they may be facing. HMRC will also:

  • agree instalment arrangements where taxpayers are unable to pay as a result of the floods
  • agree a practical approach when individuals and businesses have lost vital records in the floods
  • suspend debt collection proceedings for those affected by the floods
  • cancel penalties when the taxpayer has missed statutory deadlines.

Internet link: GOV.UK news

Self assessment deadline approaching

HMRC have reported that:

  • a record breaking 24,546 people submitted their tax return online on New Year's Eve
  • more than 11,467 people sent off their self assessment tax return on New Year's Day
  • and in excess of 2,000 taxpayers submitted their tax returns on Christmas Day.

Ruth Owen, Director General of Personal Tax, HMRC, said:

‘As we all enjoy the festive season it's easy to see how completing your tax return can be forgotten, but the 31 January deadline will be here quicker than we think.'

The deadline for sending 2014/15 tax returns to HMRC, and paying any tax owed, is 31 January 2016. Please contact us if you need help with your self assessment return.

Internet link: GOV.UK news

Identity theft – ICO guidance

Following the data security incident at TalkTalk with customer details being 'hacked' and many customers remaining unsure if they have been affected, an ICO spokesperson stated:

'Any time personal data is lost there can be a risk of identity theft. There are measures you can take to guard against identity theft, for instance being vigilant around items on your credit card statements or checking your credit ratings. There are tips and information about identity theft available on our website.'

Please follow the link to the ICO guidance on identity theft.

Internet link: ICO news

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