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Harries Watkins Jones are a Bridgend and Pontypridd (South Wales) based firm of Chartered Accountants, tax and business advisers. They pride themselves in providing high levels of service. With each and every new client, they never assume their requirements but seek to tailor their services to their individual needs.Their goal is to build a strong and sustainable working business relationship with each client and to offer them real solutions to their business problems.

To find out more please visit their website.

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Tuesday, 23 August 2011

Companies House Reminders

You can now set up an email reminder service for your company or LLP at Companies House. Once you have registered you will receive timely emails to remind you of the due dates to submit the annual return and accounts for your business, and paper reminders will cease.

Friday, 19 August 2011

Less Tax for Students

If you are employing students over the summer months, don't forget to give them the HMRC form P38S (2011) to sign. This form allows the student to earn their full annual allowance of £7,475 from their holiday work before any tax is deducted.

The student must confirm they will return to full time study at a named college, school or university for a course that will continue until at least 5 April 2012. The student must also not have employment during term time.

Saturday, 6 August 2011

August 2011 Tax Questions and Answers

Q. I've heard I could reduce inheritance tax by leaving money to charities in my Will. How does this work? Do I have to leave a minimum amount?

A.
Any bequests to charities in your Will are free of inheritance tax (IHT). This means the executors of your estate will only pay IHT at 40% on the value of your estate after deducting the following:

- gifts to charities,

- gifts to your UK domiciled spouse; and
- your available nil rate threshold.

For deaths after 5 April 2012 it is proposed that the rate of IHT paid will be reduced to 36%, if at least 10% of the net estate is left to charity. Your net estate is the amount on which IHT would be charged without considering the charitable gifts. You may need to redraft your Will to ensure your estate qualifies for this tax discount.

Tuesday, 2 August 2011

New Workplace Pensions Cost

Another set of regulations is set to fall on the shoulders of all employers. This time it's a compulsory pension scheme for all employees.

This new pensions law is due to be introduced over four years from October 2012. The largest employers (120,000 or more employees) will be forced to sign up first. Those who employ less than 50 workers will be required to take part in the scheme from a date sometime in 2014 to 2016. The exact date will depend on your PAYE reference number.