Tax Guru

This feature is sponsored by: TaxAssist Elgin

Writing exclusively for Moray Life, Elgin-based tax and accountancy specialist Andrew Richardson gives advice on financial matters to small businesses.

If you have a tax query then please submit your questions directly to Moray-Life using this form and Andrew will try to give you a response on this page next month.


Tax Guru 05-2013

Hello again!

My name is Andrew Richardson and I have been running TaxAssist Accountants in Elgin for five years. I am hoping that this tax advice section will become an interactive feature. Submit your tax and accountancy questions to Moray Life and I’ll answer a sample of them each month, along with a brief summary of the tax issues we should be looking out for.

Q: Hello, I have two staff that I pay weekly, but I only run my payroll at the end of the month. I know that RTI (Real Time Information) means I need to keep HMRC informed, but do I really need to run payroll every week from now on?

A: HMRC announced that employers with fewer than 50 employees will be allowed to send information to HMRC by the date of their regular payroll run until the 5th of October 2013.

Unfortunately there hasn't been much detail released surrounding this announcement, but it sounds as if adoption is optional and not the default. Nevertheless, this should give you until the 5th of October to prepare, as opposed to making changes now. After that, weekly payroll will need to be submitted weekly.

Q: I want to have as little paper lying around as possible and I was wondering if I can email my employees their P60's rather than printing them all off.

A: Since 2010/11, a P60 form can be provided on paper or electronically.

My recommendation, however, would be to confirm with your staff that they are happy to receive their P60 electronically before emailing it to them. If they are uncomfortable, then you would be best to provide them with a hard copy as normal.

Q: I have a VAT return to submit for the period ended 31st of March 2013. When do I need to submit it to HMRC?

A: Normally, you have one month and seven days to submit your VAT return if you file it electronically. As your VAT return is dated 31st of March, you have until the 7th of May to file it with HMRC.

Just remember that HMRC often update their online services, which means that it isn't always available and late returns may be subject to surcharges


If you have a tax query then please submit your questions to Moray Life and I'll try to give a response next month.  And always remember...

'The difference between tax avoidance and tax evasion is the thickness of the prison wall.'

By Andrew Richardson

TaxAssist Accountants Moray

Andrew’s contact details:

Please see my TaxAssist page for more details.