Accountants Strengthen Audit Team with New Partner

April 2009

Sutton Coldfield accountants Weatherer Bailey Bragg LLP have further strengthened their specialist audit team with a new appointment.

Deborah Horsley, who joined the firm in January as audit partner, has responsibility for ensuring that audits of clients’ accounts are carried out using best practice and to international auditing standards while also delivering meaningful information to help businesses move forward.

A fellow of the Association of Chartered Certified Accountants (FCCA) and a member of the Institute of Chartered Accountants in England and Wales (ACA), Deborah has more than 20 years’

During that time, she has worked with clients ranging from sole traders to public limited companies, including a number of specialist industry sectors.

She said: “Weatherer Bailey Bragg believe in delivering intelligent audits, which help clients with problem-solving and decision-making as well as making sure they meet their compliance and reporting obligations. I am looking forward to working alongside our clients to gain a close understanding of their businesses and an insight into how to advise them most effectively.”

Weatherer Bailey Bragg partner Richard Miner said: “Deborah brings with her a wealth of experience that will enhance our already strong team.”

National Insurance Contributions from April 2009

April 2009

From 6 April 2009, changes have been made to how employers will have to record National Insurance Contributions (NICs) due to changes to the State Second Pension. Employers will have to record NICs in the following four earnings bands, with the introduction of the Upper Accrual Point:

  • earnings up to and including the Lower Earnings Level (LEL), where earnings are equal to or exceed the LEL
  • earnings above the LEL up to and including the Earnings Threshold (ET)
  • earnings above the ET up to and including the Upper Accrual Point (UAP)
  • earnings above the UAP up to and including the Upper Earnings Limit (UEL).

MRC’s P11 Calculator on their CD-ROM has been updated to include all four earnings bands shown above.

It may be worth checking that, if you use payroll software, your provider has made these NICs changes available as part of the annual upgrade.

HMRC’s paper form P11 Deductions Working Sheets have been updated. The 2009/10 version can be obtained from the Employer Orderline. Old stocks of P11 sheets should be destroyed. Further help on completing the 2009/10 P11 can be found in the Employer Helpbook E11 Starting the Tax Year.

Internet link: HMRC employer bulletin

‘How to Pay’ Changes

April 2009

During 2009, HMRC will be changing the bank accounts into which businesses and individuals make payments. These changes will be phased in throughout the year but HMRC will keep businesses and taxpayers informed of any changes.

The first account change will be on the Pay As You Earn (PAYE) payment booklets issued from February 2009, which should be used from April payments onwards for the 2009/10 tax year.

Other changes will appear within HMRC’s ‘How to Pay’ instructions. An updated version of these instructions, including the revised bank account and sort code details, will be published on HMRC’s website as changes are made.

If you make payments to HMRC via BACS and banks online systems, the new details will be provided in the ‘How to Pay’ instructions when the changes are made.

HMRC state:

‘You do not need to take any specific action or make any changes at the moment; your payments will continue to be received by HMRC and applied to your tax liability.’

Internet link: HMRC employer bulletin

New Statutory Payment Rates for 2009/10

April 2009

The new Statutory Payment Rates for 2009/10 have been announced (subject to Parliamentary approval). The new rates are as follows:

  • Statutory Sick Pay (SSP) weekly rate – £79.15 for payment weeks beginning on or after 6 April 2009
  • Statutory Maternity Pay (SMP) – standard rate £123.06 for payment weeks beginning on or after 5 April 2009
  • Statutory, Adoption and Paternity Pay (SAP, SPP) – £123.06 for payment weeks starting on or after 5 April 2009.

Employers who do not qualify for Small Employers’ Relief will be able to continue to recover 92% of the SMP/SAP/SPP. Employers who do qualify for the relief will be able to recover 104.5% of the SMP/SAP/SPP.

A small employer is one who paid (or was liable to pay) total gross Class 1 NICs of £45,000 or less in the individual’s qualifying tax year.

In addition, a new Employer Helpbook E19 is now available. This brings together all the information on Paternity Pay. The other Helpbooks now cover Sick Pay (E14), Maternity Pay (E15) and Adoption Pay (E16).

Internet link: HMRC employer bulletin