Budget Update; Rothmans gives regional businesses the inside edge

As you are aware, the Conservatives have been returned to Government with a majority and as expected have announced a second Budget which is to take place on 8 July. Rothmans will be issuing a second report picking up on the relevant points for your business but whilst we await the detail of their proposed measures, we are providing below a refresher from the March Budget. If you have not already done so, you may care to visit Rothmans website ( and sign up for the Firms’ eNews to receive topical and relevant informati...

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Changes to the construction Industry Scheme (CIS)

The government has announced that it will implement a package of improvements to the CIS. The stated aim of the changes is to reduce the administrative and related cost burden on construction businesses. The measures should result in more subcontracting businesses being able to achieve and maintain gross payment status so improving their cashflow. These changes are to be implemented in stages. From 6 April 2015 the following amendments will be made to the system: • The requirement for a contractor to make a return to HMRC even if the c...

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Hampshire Chamber of Commerce – Audit Appointment

Hampshire Chamber of Commerce has appointed Rothmans to be its Auditors. Hampshire Chamber of Commerce is owned and led by its membership comprising of local business organisations of all sectors and sizes. They hold over 100 events every year including their annual conference, which strive to give all members the opportunity to learn, meet new contacts and promote their business through networking or promotional opportunities. They also provide Training services, International Trade services, a host of membership benefits and member offers...

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P11D Filing and common errors

Forms P11D, and where appropriate P9D, which report details of expenses and benefits provided to employees and directors for the year ended 5 April 2015, are due for submission to HMRC by 6 July 2015. Any Class 1A National Insurance liability arising for the employer on those expenses/benefits must be paid to HMRC by 19 July 2015 (22 July 2015 where payment is made electronically). Typical reportable benefits include the following although this is not a complete list: • Company Cars • Cheap or Interest Free Loans • Season T...

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Julian Sims Rothmans Havant

£89 million – From £100 late filing penalties

Following on from the article in the last PIN regarding penalties imposed for late or non submission of personal Tax Returns, a staggering 890,000 Returns relating to the tax year ended 5 April 2014 – which needed to be filed by 31 January 2015 – remained outstanding on 1 February. That represents a potential income to the Treasury of £89,000,000! 4.3 million Returns were submitted during January 2015, 980,000 of which were sent in on the last day of the month. In addition to those automatic £100 fines for not meeting...

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Leading accountancy firm looks to the future as it celebrates 60th anniversary

Rothmans Chartered Accountants, one of the South’s leading accountancy firms, celebrates its 60th anniversary this year. The firm was founded in 1955 in Winchester by Algy Rothman, who was joined five years later by Geoff Pantall. It has steadily expanded and now has 12 branches across the region, with more than 150 staff and partners. The firm’s success continues with new offices opened in Southampton and Petersfield during the past 12 months and the creation of its new insolvency arm, Rothmans Recovery Ltd, which...

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