kbbs has just partnered with NTC Bookkeeping Services in setting up a specialist payroll bureau.

First Class Payroll is the Specialist Payroll Bureau in the Wyre Forest delivering Payroll services with quality and efficiency.   First Class Payroll Limited is the first stop for Payroll for your company.

Real Time Information is here!

We will deal with all HM Revenue & Customs inquiries and deal with employee’s queries. We produce reports for the accounts department, process weekly or monthly payrolls and send payslips to the employees and can also make the payments to the employees if required. We utilise modern Payroll software and can email PDF payslips to reduce our/your impact on the environment if required. We are flexible to your business needs and take every measure to tailor our service to you.

First Class Payroll Limited, 11 New Street, Stourport-on-Severn, DY13 8UL.

Statutory Sick Pay.

From 6 April 2013 SSP increases to £86.70 per week or £17.32 per day.

Statutory Maternity Pay.

From 6 April 2013 SMP increases to £136.78 per week.

There are two dates that you need to remember when considering your self-assessment tax return deadline. Do you want to submit it by paper or all online?

Doing your tax return online doesn’t mean you don’t need to organise your books and prepare all of the necessary financial information. In fact, there is no difference in what you submit, just how you submit.

Read here about the difference between submitting online or submitting by paper.

Paper self-assessment tax return deadline:

31st October

Online self-assessment tax return deadline:

31st January

Doing your Self-Assessment Tax Return online doesn’t mean you don’t need to organise your books and prepare all of the necessary financial information. Infact, there is no difference in what you submit, just how you submit.

Paper self-assessment tax returns:

The paper based tax return has an earlier submission deadline. This is the main difference between the two.

The paper based self-assessment also must be posted and delivered in time, so you rely heavily upon the timeliness of the postman!

Doing a paper tax return means you have to complete calculations yourself. This may seem obvious, but for those who have lived around computers for years, this may seem odd. Online tax returns do the calculations for you.

Online self-assessment tax returns:

Calculations are done for you, automatically.

You find out exactly what you are owed or how much you have to pay in tax. You are also able to pay directly using your credit or debit card straight after.

You must submit the following forms using commercial software (bookkeepers/accountants):

• Partnership Return
• Trust and Estate Tax Return
• Some pages that support the main tax return, for example, those for Lloyd’s members and ministers of religion

You CANNOT submit the following forms using the online self-assessment Tax Return:

• SA700 – Non-resident Company Tax Return
• SA970 – Trustees of Registered Pension Schemes

Struggling with a Tax Return?

Get in touch.

The government has announced more detail on it’s plan to create a new system of flexible parental leave to help parents balance their work and family commitments.

The Government will be launching a consultation which will explore proposals for the design of a more flexible system of parental leave to support shared parenting between mothers and fathers and this will also consider how best to extend the right to request flexible working to all employees.

These were both commitments set out in the Coalition Agreement last year.

In designing a new system, the Government has stated:

• It must maintain women’s guaranteed right to time off in the first months of birth, paid.
• The rights of lone mothers must be protected
• It must transform the opportunities for fathers to take time off to care for their children
• It must be possible for mothers and fathers to share part of their leave, splitting it between them, in whatever way suits them best.
• It must take into account the needs of employers and it must be simple to administer

Government aims to implement the new system in 2015, a much later date than many people had thought.

Read more about the shared parental leave arrangements issue at the NDS government website