Between September and Christmas, HMRC says about 4.3 million taxpayers will receive tax refunds after over-paying through the PAYE system.

The errors came to light following the installation of a new computer system and a reorganisation of the way in which employee information is processed by HMRC.    Previously the system was centred on employers which meant if a person had more than one job their information might be kept in several different locations.  As work patterns have changed and part time and multi employer working has become more the norm, the system has had to be changed.

Any under or over payments will be rectified over the next 12 months by varying the individual’s tax code.

Southern Business of the Year

The most prestigous award of the evening was the Business of the Year Award, sponsored by Goodwood Racecourse. Imagine our delight when Carpenter Box client Penton UK, who manufacture hi-tech voice evacuation and public address systems were called up to the podium by hosts Fred Dinenage and Debbie Thrower.

Penton MD Kevin Tester (pictured afterwards with Carpenter Box Director Alan Edwards who looks after Penton) was almost speechless when the announcement was made, but he was delighted to receive the award accompanied by members of the Penton team. 

Well done Penton – a great example of a British company at the cutting edge of design and development.

Of course, it’s all for a good cause – The Worthing and Adur fund which is a community fund set up by the Worthing Chamber of Commerce with the help of the Sussex Community Foundation.  The fund aims to support small local charities across, you’ve guessed it, Worthing and Adur!  In fact Carpenter Box was the first Corporate Donor to the fund so as you can see, we’re quite fond of the idea of supporting our community. The Beer and Music Festival promises to be a great event with all sorts of entertainment of the alcoholic and musical kind.  With over 20 real ales and ciders + a BBQ, comedians and music a plenty it’s going to be a great weekend.  The festival runs from noon to 11pm on Saturday 4th September and Sunday 5th September.  For more details follow this link.

The government is preparing to launch its promised national insurance contribution holiday for start-up firms in certain areas of the UK.

The putative date for the launch is 6 September, although it is understood that every detail of the necessary legislation has yet to be confirmed.

Under the scheme, which is designed to help fledgling firms in regions that are economically hard pressed, new employers will not have to pay the first £5,000 of class 1 employer NICs due in the first twelve months of business.

This will apply for each of the first 10 employees hired in the first year of trading.

The scheme is due to run for three years, and firms that have set up since 22 June, when the measure was announced in the Budget, can claim for the tax breaks provided they meet the qualifying criteria.

The countries and regions which will benefit will be Scotland, Wales, Northern Ireland, the North East, Yorkshire and the Humber, the North West, the East Midlands, the West Midlands and the South West.

However, firms based in Greater London, the South East of England and the Eastern regions will not qualify for the relief. As will certain sectors such as agriculture, fishing and coal.

Reports that councils may be considering the introduction of a levy on firms with private staff car parking spaces has provoked protest from the  Forum of Private Business (FPB) which reacted by saying it is deeply opposed to the scheme.

As from 1 September, a new one-in, one-out system will be introduced.

When government departments wish to implement new regulations that impose costs on businesses, they will have to identify current regulations with an equivalent value that can then be removed.

To bolster the approach and to ensure that the cost of red tape is being addressed across the whole of the UK economy, the government is also to introduce other measures.

These include a set of principles of regulation that government departments must apply when considering the effect of new regulations on business, social enterprises, individuals and community groups.  Perhaps we shouldn’t hold our breath!

For the full story link here