News

Keeping you up to date

There are a few updates and changes which everyone should be aware of outlined below. If you have any questions or concerns please contact the team at Astons.

National Minimum Wage rates - The adult rate of the National Minimum Wage increases from 1 October 2011

The NMW rates are reviewed each year by the Low Pay Commission and from 1 October 2011:

• the main rate for workers aged 21 and over will increase to £6.08
• the 18-20 rate will increase to £4.98
• the 16-17 rate for workers above school leaving age but under 18 will increase to £3.68
• the apprentice rate, for apprentices under 19 or 19 or over and in the first year of their apprenticeship will increase to £2.60

Read more on www.direct.gov.uk

Changes to Companies House regulations from 1 October 2011

There are new regulations coming into force on 1st October 2011 relating to Standard Industrial Codes (SIC Codes), Shareholder disclosure as part of the Annual Returns and Overseas Company Mortgages or Charges.

Advisory fuel rates for company cars for journeys on or after 1 September 2011

The following rates are for employees who drive company cars, but provide their own fuel :

Engine size	Petrol	LPG
1400cc or less	15p	11p
1401cc to 2000cc	18p	12p
Over 2000cc	26p	18p

Engine size	Diesel
1400cc or less	12p
1401cc to 2000cc	15p
Over 2000cc	18p

Read more on www.hmrc.gov.uk

---

Astons had their re-launch day on 30 March as planned, and would like to thank the clients that expressed their support and interest.

HMRC are getting harsher!

6 May 2011

We need to make you aware of the new penalties and fines being introduced by HMRC :

• There are now penalties for late payments on PAYE throughout the year – up to 4% of the amount which is overdue can be charged.
• Personal tax returns which are late will no longer have the £100 fine written off if the return shows a refund once completed.
• If a personal tax return is more than 3 months late, the penalty is £10 per day and by 12 months late it could be as much as 100% of the tax due again as a penalty.

Changes to Corporation Tax administration.

There is a new system in place for filing company tax returns, and as part of the technical change, HMRC have said they will no longer accept cheques for payment of corporation tax!

Corporation tax will now need to be paid 'electronically' using ;

• Internet banking
• Telephone banking
• Direct Debit
• Debit and Credit cards at www.billpayment.co.uk/hmrc
• BACS
• CHAPS

---

Astons Announce Re-launch

30 March 2011

Although Astons has been in business for 27 years, now, a re-launch has been organised to modernise the image of the firm, with a new logo coinciding with the launch of the new website.

The launch date is 30 March 2011 and Astons Accountants are holding an “open house” in the afternoon with a glass of bubbly for anyone who wants to come along and see it all for themselves on the day.

Anyone attending will also be able to meet the website developers to chat about the whole process.