Are we all aware of the 5 September 2013 deadline ?

Are we all aware of the 5 September 2013...

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For Payroll ( and other) Accountants wanting to avoid PI claims for up to £50,000.   Just a reminder to accountants (especially those operating payrolls for clients) that the "Regional Employer National Insurance Contributions (NICs) Holiday for New Businesses" scheme closes tomorrow.

Application can still be made to join this scheme, which commenced on 6th September 2010, to claim exemption from Employer's National Insurance Contributions in respect of earnings paid up to and including tomorrow.

The maximum exemption is £50,000 (i.e. 10 employees at £5,000 per employee).  Any failure by accountants to make use of this Scheme could of course result in a Professional Indemnity claim.  Clearly today is a good time for all accountants dealing with payrolls for clients to ensure that no clients are "missing out" - even where accountants do not deal with the payroll for clients, I would recommend a review of the client database to notify clients, where appropriate, of this scheme, to confirm that advantage has been taken thereof (even where clients have been previously notified).

Full details are of course available from the HMRC website.       Basil.

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By 12mike34
04th Sep 2013 17:32

Robots

I was not aware of the scheme and we do run a very small number of payrolls.  We are all SE based so unable to claim but interestingly I did Google  

 

"Regional Employer National Insurance Contributions (NICs)" 

 

1.Top Google result - Regional employer NICs holiday - HM Revenue & Customs

www.hmrc.gov.uk/paye/intro/nics-holiday/

A description for this result is not available because of this site's robots

 

Damn those robots!

 

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Replying to tdavey&co:
Sarah Douglas - HouseTree Business Ltd
By sarah douglas
04th Sep 2013 17:45

Pity it was a great scheme

It is s pity as it was a great scheme.   I had four clients on it that I recommended it to their application was successful. It made a massive difference to the cashflow and giving the companies a healthy start.  I bought this up on another post about bookkeepers giving tax advice and accountants costing their clients .

 I mentioned that the Professional  bookkeepers where well advised of this scheme and recommending it to clients even though a lot of accountants were not.  Interesting point about the PI though. Surely you would only be open if you were actually invoicing for Payroll Services and not Tax Planning I may be wrong though 

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By blok
04th Sep 2013 17:35

.

is the date of 5 September the deadline for claiming or is this the deadline where wages fail to qualify?

 

i.e. can you make the application for wages paid in the year to 5 September 2013 next week?

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By andrew55
05th Sep 2013 08:00

Thank you

Thanks for the reminder, much appreciated. I've just done a couple of applications just in case the 5th is the deadline for the application.

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