The latest Clay Shaw Butler Money Matters column from the Carmarthenshire Herald


The latest Clay Shaw Butler Money Matters column from the Carmarthenshire Herald.
By Mark Jones, director of Carmarthen-based Clay Shaw Butler chartered accountants and business consultants.


Deadlines are so important in the world of business – particularly when it comes to tax matters.
At Clay Shaw Butler, we recognise how important deadlines are by helping our customers with a regularly-updated calendar of upcoming key taxation dates.
Here is what’s coming up during the rest of this year . . .
August 2017
Saturday August 19
PAYE, Student loan and CIS deductions are due for the month to 5th August 2017.
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd August 2017. In year interest will be charged if payment is made late. Penalties also apply.
September 2017
Friday September 1
New Advisory Fuel Rates (AFR) for company car users apply from today. The rates can be found by visiting https://www.gov.uk/government/publications/advisory-fuel-rates
Tuesday September 19
PAYE, Student loan and CIS deductions are due for month to 5th September 2017.
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd September 2017. In year interest will be charged if payment is made late. Penalties also apply.
October 2017
Thursday October 5
Deadline for notifying HMRC of new sources of taxable income or gains or liability to the High Income Child Benefit Charge for 2016/17 if no tax return has been issued.
This deadline is relevant to individuals who have not received a self assessment tax return for the year ended 5th April 2017 but who believe they have received income or capital gains which will result in a tax liability. This deadline is also relevant to individuals who are liable to the High Income Child Benefit Charge.
Individuals must notify HMRC of their liability so that a self assessment return can be issued in good time for the submission deadline of 31st January 2018.
If we have already dealt with this matter on your behalf you need take no action.
Thursday October 19
Tax and NI due under a 2016/17 PAYE Settlement Agreement.
This deadline is relevant for employers who have entered into a PAYE settlement agreement to pay tax and national insurance in respect of benefits in kind for their employees for the year ended 5th April 2017.
Where the payment is made electronically the deadline for receipt of cleared payment is Friday 20th October 2017 unless you are able to arrange a 'Faster Payment' to clear on or by Sunday 22nd October.
Thursday October 19
PAYE, Student loan and CIS deductions are due for the month to 5th October 2017.
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is Friday 20th October 2017 unless you are able to arrange a 'Faster Payment' to clear on or by Sunday 22nd October. In year interest will be charged if payment is made late. Penalties also apply.

You can find out more about money matters on the Clay Shaw Butler website (under our news for business section) -
http://www.clayshawbutler.com/news/latest-news-for-business
We have a strong and experienced team with great local knowledge all geared-up to helping you get the very best from your finances – whether that is as an individual or as a business.
We stay ahead of the game by putting great store by continual professional development for our staff.
With Investors In People status at Clay Shaw Butler, we care passionately about making sure our staff have all the tools they need to serve you, our customers.

Weblink - http://www.clayshawbutler.com
The team at Clay Shaw Butler can be contacted on 01267 228500.
The team at Clay Shaw Butler are on Twitter. Look for @clayshawbutler. 

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