UK Tax Payers Receive Extra GBP 600

Released on: August 28, 2008, 2:32 pm

Press Release Author: Boogles Ltd

Industry: Accounting

Press Release Summary: The UK tax codes and free allowance is about to change, and
this is going to cause a huge administrative burden on the small businesses already
struggling to cope. The answer could be to outsoure the payroll.

Press Release Body: Outsource Your Payroll Nightmare to the experts

Employers across the country are beginning to prepare for the introduction of the
Chancellors much-awaited change to the tax law. Anyone doing the payroll will be
affected. Tax codes will change, tax allowances will change and it's all because
they tried to whip the 10% rate of tax away - hoping no-one would notice.

The burden of doing the payroll has become horrendous for many small businesses.
Sick pay, maternity pay, paternity pay, tax credits, pension provision, year end
returns, leavers & starters, minimum wage legislation, on-line filing requirements,
are enough to make many a small business outsource this job to companies like
Boogles Ltd, who have made it their speciality.

Trying to keep on top of the tax law can be tricky. The basic Personal Allowance for
the 2008-09 tax year will increase by 600 from 5,435 to 6,035. At the same time
the basic rate tax band (the amount of taxable income you can earn before paying
higher rate tax) will reduce from 36,000 to 34,800. The minimum wage will increase
across the board in October 2008, and the statutory holiday entitlement for UK
workers will rise from 24 to 28 days in March 2009.

Lisa Newton, Director of Boogles Ltd, says: "There are a lot of changes to keep
abreast of. When you are running a small business, there is a lot of red tape, and
doing the payroll can be a weekly or monthly dreaded chore, so this is where we step
in to help. Finding qualified payroll staff for a short time every month can be
difficult, but when you outsource it, it can be cheaper, less stressful, and you
just can then focus on your core activities - which is where your money is. After
all, who wants to get the wages wrong for their staff? You could have a riot on
their hands!"

Payroll is an ongoing cost of doing business, and getting it wrong is a disaster.
What's more, is that there are strict deadlines for when the Inland Revenue need to
receive their payments and forms, and stiff penalties apply when these deadlines are
missed.

Highlights in the payroll calendar are:
Monthly or Quarterly: Paying the tax and national insurance collected - over to
the Inland Revenue.
19 May: Ensuring the p35 is filed with the Inland Revenue. And getting out p60s to
the staff.
6 July: Ensuring p11d's are completed and filed.
Ongoing, throughout the year: p14. Keeping an accurate track of the employees work
record.


Web Site: http://www.booglesltd.com/Payroll.html

Contact Details: - Name of the company: Boogles Ltd
- Address of the company: Fitzroy House - 3rd floor, Abbot Street, Dalston, London
E6 6ER
- Detailed contact informations: Tel: 0844 8844 622, Fax: 08712 449 500, Mobile:
07854 216 482, Email: pr@booglesltd.com
- Presscontact: Nabila Quarshie

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