Archive for November, 2011

New CIS Fines introduced in 2011

The deadline for your 2011 Tax Return is 31st January 2012 if submitted electronically. Paper based Returns had until the 31st October 2011. Failure to submit your Return by these dates will incur a £100 penalty.

Furthermore, daily penalties have been introduced this year. If you are unfortunate to have missed the deadline we are able to help bring your Tax Affairs up to date.

No longer will late penalties be waived in repayment claims and a Return filed 6 months late could result in a penalty of £1300!

The new penalties for filing Tax Returns late are as follows:

  • Day one – Individuals will be charged an initial penalty of £100, even if they have no tax to pay or have already paid all the tax owed
  • Over three months late – Individuals will be charged an automatic daily penalty of £10 per day, up to a maximum of £900
  • Over six months late – Individuals will be charged further penalties, which are the greater of 5% of the tax due or £300
  • Over 12 months late – Individuals will be charged yet more penalties, which are the greater of 5% of the tax due or £300. In serious cases people face a higher penalty of up to 100% of the tax due.

The deadline for submitting paper Tax Returns is 31st October, while those filing online have until 31st January. Meanwhile, the penalties for paying income tax late are also being changed. An initial penalty of 5% of the unpaid tax will be charged after 30 days, with further penalties levied at six months and a year if it remains unpaid.

If you require further assistance or need more information on these fines please get in contact with one our team by calling 020 8424 8464.

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How do I register as self employed?

Its very easy but can be time consuming to register as self employed. We list below how to apply for a Unique Tax Reference Number (UTR) – registering as self-employed.

Follow the two steps below.

Step 1 – We would recommend registering online by following the below link:-

Step 2 – Alternatively, you can call the tax office on 0845 915 4515. You can also register as a Subcontractor (CIS) at the same time.

Once you have made contact with them you will need to provide the following information:-

Name and address
Date of Birth
National Insurance Number
Type of work (e.g. general construction etc)
Date started (today’s date or earlier)
Name of previous employer (if applicable)

Any problems, please do not hesitate to contact us. If you require any further assistance with this matter please get in contact with us on 0208 424 8464.

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National Minimum Wage

The National Minimum Wage has changed again on the 1st October 2011. Depending on your age and work situation the current rates are as follows;

• £6.08 – workers aged 21 and over
• £4.98 – 18-20 years old
• £3.68 – 18> who have left school
• £2.60 – the apprentice rate, for apprentices under 19 or 19 or over and in the first year of their apprenticeship

If you are of compulsory school age you are not entitled to the National Minimum Wage. Some of your other employment rights may also be different.


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