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Newsletter Archive

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TAX RETURNS05 November, 2003
Please note that Sara Graff is a qualified Chartered Accountant and Chartered Tax Advisor and provides accounting and tax services in addition to the general Taxing Nannies service. She would be happy to assist you in preparing your tax return and if you wish to avail yourselves of this service or would like some general advice please feel free to ring Sara on +44 (0)208 882 6847.
 
       
FILING OF ONLINE TAX RETURNS01 November, 2003
Many of you will have received through the post information from the Inland Revenue regarding online filing of PAYE returns (forms P35) and the incentives being offered by the Inland Revenue to employers to file online. To clarify this matter please note the following:

1. Incentive payments do not come into force until the filing of the 2005 tax return. Forms P35 can be filed online for 2004 but no incentive payments will be made by the Inland Revenue.

2. The Inland Revenue are advertising incentive payments in the sum of £825. Although this is strictly correct, payments totaling this amount will only be paid if you are still employing someone in April 2009.

3. The incentive payments to be made are as follows:

April 2005 £250
April 2006 £250
April 2007 £150
April 2008 £100
April 2009 £75

Taxing Nannies is expecting to have the technology in place by April 2004 to file tax returns on line, well in time to be able to file 2005 tax returns. We will be able to file tax returns online with the result that our clients will obtain the incentive payments. Therefore anyone using Taxing Nannies during 2004/05 and 2005/06 will in effect have their fees paid for by the Inland Revenue.

Filing online requires certain administrative procedures to be adopted and we will be contacting you next summer to obtain the necessary authorities to enable us to file your return online.
 
       
NATIONAL MINIMUM WAGE01 November, 2003
Please note that with effect from 1st October 2003 the national minimum wage is £4.50 gross per hour for anyone aged 22 and over and £3.80 gross per hour for those aged 18 to 21. The rates vary slightly where a nanny lives in as there is a small adjustment that can be made to take account of the accommodation costs. Please contact Taxing Nannies if you require further information.