SJD Advice on RTI Changes to payroll

[Higgs Boson]

Lots of our clients have no real need for the monthly salary, hence our proposal of annual. If however, they do require it monthly, which most do, then we are happily accommodating it within the standard monthly fee as soon as they request it.

Lots have no need, but most do?

[Danielsjdaccountancy]

Lots have no need, but most do?

Thought someone would flag that! My point still stands, we'll happily accommodate monthly, just ask your accountant.

[northernladuk]

Lots have no need, but most do?

Makes sense.... People want it but ultimately don't really need it... but they still want it.

[jamesbrown]

Lots have no need, but most do?

With 12000 clients I think "lots" and "most" probably go together just fine.

[NimbleJackAccounting]

HMRC Fines

A key point to note for accountants and contractors is that HMRC will not be administering any fines for the first year. Despite the letters sent to everyone on PAYE, there has been no mass television and radio campaign.

However, ensure your accountant has carried out data validation, which basically means he has all your key information ( this should all be taken at point of engagement)

As a part of the 'universal credit' system the government does want to collect a lot more information on each employee.

[unixman]

I received the SJD email on March 1st. Paperwork is promised "in March". Well it's March 18th and nothing received so far...

Based on the standard tax code of 944L and provided you have no other forms of personal income, this will allow you to continue to receive tax free dividends during the year of approx. £28,600 (£2,600 in 11 monthly payments). We will be sending a full schedule of the salary in March.

[Higgs Boson]

If you use the SJD system and your year end is September 2013, would salary go into the costs for that year if the payslips weren't being produced until March 2014?

[pcgtron]

I received an email from my accountant regarding this and I'm going to be charged an extra £3.75 to be paid monthly.
It is annoying for something I can't change as I do not want to be paid yearly but to be fair they are cheaper than the big contractor accountants so I don't mind paying a small extra amount.

It's only if this keeps going up and up year after year that we may have a problem

[Nathan SJD Accountancy]

I received an email from my accountant regarding this and I'm going to be charged an extra £3.75 to be paid monthly.
It is annoying for something I can't change as I do not want to be paid yearly but to be fair they are cheaper than the big contractor accountants so I don't mind paying a small extra amount.

It's only if this keeps going up and up year after year that we may have a problem

Ouch!

[Baffle]

I received the SJD email on March 1st. Paperwork is promised "in March". Well it's March 18th and nothing received so far...

What salary were they basing that tax free dividends figure on?

Isn't the allowance for 13/14 around 41k for salary and dividends? Prior to higher rate? Meaning if most took a minimal salary of around 8k this would leave around 33k that could be taken as dividends?

11 x £2600 = £28600, so is that assuming you have a salary circa 12k (41k - £28600) or am I missing something?

I know it isn't 41k exact but can't check exact figure at the minute....