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WINTER 2014
Welcome to the latest Edition!
On the 16th of September Kilby Fox
hosted its annual Games Night. A was a
very successful evening of friendly competition,
held at the Northampton and District Bowls Club.
Teams of Four competed in a variety of games, we had Uno, Lasso Golf,
Jenga and of course bowls on the Indoor bowling green.
All of the teams did exceptionally well and everyone gave their all to the
fun and games. Big congratulations to the winners Wilson Browne
Solicitors. They received a box of chocolates as a prize.
If you missed out on the Games Night, don’t worry we have plenty more
events planned in the near future. To be added to our mailing list for our events please email
[email protected] and keep checking our website www.kilbyfox.co.uk for upcoming events.
This winter issue of Fox Facts is packed with useful and interesting
information for you to digest. Employment levels and National Minimum wage
rises are discussed along with news on The Autumn Statement, not to mention
news of our events and Christmas opening times. We also celebrate one of our client’s
fantastic achievements in Business.
Feedback is always welcome so if you have any thoughts on the subjects covered in this issue and any
other comments you may have, please do let us know. Also, if there are any subjects you would like us to
cover in our next newsletter or you would perhaps prefer to speak to someone about a particular subject, please email
[email protected] with a convenient time slot and the relevant person will call you.
We would like to take this opportunity to remind you that you can place an advert in Fox Facts as big or as small as you
require for a small fee, if you would like more information on this, please do not hesitate to contact Kylie who will be pleased
to give you a quotation.
RTI Penalties For Small Employers Delayed
The team here at Kilby Fox would
like to wish you a very
HMRC have confirmed that employers with fewer than 50 employees will face automated in-year penalties for late real-time PAYE
returns from 6 March 2015 which is later than had originally been anticipated. Those who employ 50 or more people will face
penalties from 6 October 2014. HMRC will send electronic messages to all employers shortly to let them know when the penalties
will apply to them, based on the number of employees shown in the department’s records.
Level of penalties
For the purposes above, an employer who, during a tax month, fails to make a return on or before the filing date will be liable
to a penalty as follows:
• 1-9 employees - £100
• 10-49 employees - £200
• 50-249 employees - £300 and
• 250 or more employees - £400.
Ruth Owen, HMRC Director-General for personal tax, said:
‘Real Time Information is working well. Our most recent figures show that over 95% of PAYE schemes making payments to individuals are successfully reporting in real time, and 70% say that it is easy to do.’
‘We know from our experience of rolling out of RTI that to ensure a smooth transition for our customers it’s best to introduce
changes in stages. This will allow us to update our systems and enhance our guidance and customer support as needed. We know
that those who have had most difficulty adjusting to real-time reporting have been small businesses, so this staged approach
means they have a little more time to comply with the new arrangements before facing a penalty. ‘
If you would like any help with payroll matters please do get in touch.
and a happy New Year!
Inside this Issue........
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Kilby Fox would like to welcome the newest member of the team, Debbie Alford. As the admin assistant Debbie
will play an important role here at Kilby Fox and we are very happy to have her on board.
Also in other news we would like to take this opportunity to congratulate Gemma Crooke and her husband Martin
on the birth of their beautiful baby girl. Gemma had baby Olivia Paige Crooke on Thursday 13th November and
she is lovely. Gemma is taking a year out for Maternity leave and plans to return to work in November 2015.
Kilby Fox Events Programme & Christmas Opening Hours
Kilby Fox are hosting the following events this year, if you would like to come along to any of them, please contact Kylie to reserve your
place.
27th November 2014 – Thirsty Thursday (In conjunction with BRI Business Recovery & Insolvency)
27th November 2014 – Speed Networking
2nd December 2014 – Christmas Event
Merry
Christmas
Kilby Fox 4 Pavilion Court 600 Pavilion Drive Northampton Business Park Northampton NN4 7SL
Tel: 01604 662 670 Fax: 01604 662 681 Email: [email protected] Web: www.kilbyfox.co.uk
Welcome to the current issue............................... 1
RTI penalties for small employers delayed.......... 1
Employment Levels............................................... 2
National Minimum Wage Rise.............................. 2
The British Flat Shoe Company........................... 3
Autumn Statement................................................ 3
Games Night Article.............................................. 4
Autumn Statement................................................ 3
VAT for Digital Businesses and
The Mini One Stop Shop...................................... 3
Games Night Article.............................................. 4
Events Planner & Christmas Opening Hours....... 4
Kilby Fox News..................................................... 4
If you
would like
to receive
earlier
editions of
Fox
Facts
please
contact
Kylie
on
01604
662 670
Employment
Levels
Latest labour market
employment figures
The Office for National
Statistics has announced
that the latest statistics,
based on the period May
to July 2014, show that
employment continued to
rise and unemployment
continued to fall.
According to the ONS:
‘There were 30.61 million people in work. This was 74,000 more than for February to April 2014, the
smallest quarterly increase since April to June 2013.Comparing May to July 2014 with a year earlier,
there were 774,000 more people in work. The proportion of people aged from 16 to 64 in work (the
employment rate), was 73.0%, slightly higher than for February to April 2014 (72.9%) and higher than
for a year earlier (71.6%).There were 2.02 million unemployed people, 146,000 fewer than for February
to April 2014 and 468,000 fewer than a year earlier.’
The British Flat Shoe Company
The team here at Kilby Fox would like to take this opportunity to recognise and
congratulate one of our clients The British Flat Shoe Company in its success.
Launched in August 2013 the company manufactures wholly British made luxury,
classic ballerina style flat pumps for ladies shoes in a variety of ‘pop’ colour
suede, leather and foils.
Owner Charlotte Henderson has already had great success with her brand
of high quality footwear. The British Flat Shoe Company has already
sponsored the Ladies Gymnastics Team for GB with its statement
piece, The Union Jack Shoe. The company also won the August 2014
competition for Yeo Valley Small Home Grown Business of the month
award. The business is growing fast with Charlotte recently gaining her
first overseas Japanese wholesale client, who sells the shoe at a high end
store in Shibuya Central Tokyo.
When describing how it all began Charlotte said “In February 2013 I started looking for a simple, unadorned flat,
good quality, British made leather shoe to take on holiday – I couldn’t find anything I liked and literally said why
don’t I make it, the business grew from there.”
Northampton is known for its history in shoe making and this company recognises this and the importance of
supporting local industry. “Our shoes are all hand lasted and hand finished locally using a factory in Northampton.
These really are a true British made product and we are proud to be supporting local industry in the home of shoe
making.”
Neil Carberry, CBI Director for Employment & Skills, said:
With the company going into its second year of business this really is the start of a promising and
successful future for The British Flat Shoe Company. For more information and to view the products please visit
www.thebritishflatshoecompany.co.uk
‘The fact that unemployment is lower now than at any time since late 2008 is good news. There is more
to do, but it’s clear that our growing economy is feeding through to new jobs. Jobs growth is coming
from the private sector, more than making up for public sector job losses, and more young people are
finding their feet in our labour market. With unemployment dropping, and wage settlements in larger
firms starting to pick up, we expect to see average earnings growth begin to rise in time.’
Autumn Statement Date Announced
Following the Autumn statement on the 3rd December you can download a copy for free from our website
www.kilbyfox.co.uk
National Minimum Wage Rise
National Minimum Wage rises
The National Minimum Wage (NMW) is a minimum amount per hour that most workers in the UK are
entitled to be paid. NMW rates increases came into effect on 1 October 2014:
• The main rate for workers aged 21 and over increases to £6.50 (from £6.39)
• The 18-20 rate increases to £5.13 from £5.03.
• The 16-17 rate for workers above school leaving age but under 18 increases to 3.79 from £3.72.
• The apprentice rate increases from £2.68 to £2.73 per hour.
It is important to note that these rates, which are in force, apply to pay reference periods beginning on
or after that date 1st October 2014.
Penalties
Penalties may be levied on employers where HMRC believe underpayments have occurred and HMRC
now have the power to ‘name and shame’ non-compliant employers.
Most workers in the UK over school leaving age are entitled to be paid at least the NMW for details of
exceptions see the Acas website.
If you have any queries on the NMW please do get in touch.
VAT for digital businesses and the Mini One Stop Shop
The one-stop VAT service starts from 1 January 2015 for businesses supplying what are collectively known as ‘digital
services’ in the EU. The effect of the measures are that a business will not have to account and pay VAT separately
in each country where they do business which would otherwise be the case following a change in the place of
supply rule.
Digital services essentially means broadcasting, telecoms and e-services including those selling apps, e-books,
streaming services (e.g. sports/film/tv/music), dating services and journals, newspapers and magazines that are
subscribed to electronically and smartphone games.
Change of place of supply
From 1 January 2015 the place of supply for VAT purposes for an EU business selling digital services will change.
Currently, intra-EU supplies of digital services to non-business customers are subject to VAT in the member state
where the supplier belongs.
From 1 January 2015 this changes, so that the VAT is due where the customer who receives the service lives or is
located. This will ensure that UK consumers of these services will pay UK VAT no matter where the supplier of those
services belongs.
In order that UK businesses supplying digital services do not have to register for VAT in every EU member state
where they have customers, an optional VAT ‘Mini One Stop Shop’ (MOSS) online service has been set up by HMRC.
Other EU member states will be building their own systems.
Sally Beggs, Deputy Director Indirect Tax, HMRC, said:
‘The VAT MOSS will save digital services suppliers from having to register for VAT in every Member State where they
do business, removing a significant administrative burden. Businesses with their main operation or headquarters in
the UK will register with HMRC to use the service.’
Businesses will be able to register for VAT MOSS from 20 October 2014. The service will be available to use from 1
January 2015.
If this affects your business and you would like more detailed information or guidance on the matter please do not
hesitate to contact us.
For
monthly
updates and
tax reminders
why not
register
free at
kilbyfox.co.uk