01392 288555

1 February
• £100 penalty and extended enquiry window if 2014 self-assessment tax returns not filed on or by 31 January 2015.
• Payment of corporation tax liabilities for accounting periods ended 30 April 2014 for small/medium-sized companies not liable to pay by instalments.
• Changes to the VAT treatment of supplies of fuel for private use.

2 February
• P46(Car) for quarter ended 5 January 2015.

7 February 2015
• Due date for VAT returns and payment for 31 December 2014 quarter (electronic payment).

14 February
• Quarterly corporation tax instalment for large companies (depending on accounting year end).
• Monthly EC sales list if paper return used.
• Application to defer Class 1 National Insurance contributions (leaflet CA72A) for 2014/15, subject to approval of deferred employer(s).

19 February
• Pay PAYE, National Insurance, construction industry scheme and student loan Iiabilities for month ended 5 February 2015 if not paying electronically.
• File monthly construction industry scheme return.

21 February
• File online monthly EC sales list.
• Submit supplementary Intrastat declarations for January 2015.

22 February
• PAYE, National Insurance, construction industry scheme and student loan liabilities should have cleared HMRC’s bank account.

28 February
• Payment of 2013/14 self-assessment liabilities after this date will be subject to a 5% surcharge. (This deadline may be deferred if liability notified by 5 October 2014.)
• Companies House should have received accounts of private companies with 31 May 2014 year end.
• Companies House should have received accounts of public limited companies with 31 August 2014 year end.
• HMRC should have received corporation tax self-assessment returns for companies with accounting periods ended 28 February 2014.

Thomas Westcott is delighted to welcome Jon Mitchell who will be head of our new Business Recovery & Insolvency department. Although Jon will be based in our Exeter office he will be working with all our offices across Devon.

He said: “I look forward to heading up the Business Recovery & Insolvency department within Thomas Westcott and working with my established colleagues to provide a rounded service to clients and contacts.

As a Licenced Insolvency Practitioner, I am experienced in working with a variety of businesses and individuals throughout the South West and beyond.

Thomas Westcott Business Recovery can offer tailored solutions should you or your business be facing financial distress. We will always look to avoid any formal insolvency procedures in the first instance, but where this is not possible, we will talk you through your options in plain English. These can include Company Voluntary Arrangements, Creditors Voluntary Liquidations, Compulsory Liquidations, Administrations (and ‘pre-packs’), Individual Voluntary Arrangements, Bankruptcy and Informal Debt advice options.

We can also offer competitively priced Members Voluntary Liquidations as a tax efficient way of winding up your solvent business.

Taking early advice is always important and we offer a free initial meeting to discuss your specific case. For any further information on the above or if you would like to speak to me about any issues, please contact me on 01392 288555”

Jon Mitchell

1 January
• Payment of corporation tax liabilities for accounting periods ended 31 March 2014 for small and medium-sized companies not liable to pay by instalments.

7 January
• Due date for VAT returns and payment for 30 November 2014 quarter (electronic payment).

14 January
• Forms CT61 to be submitted and tax paid for the quarter ended 31 December 2014.
• Quarterly corporation tax instalment for large companies depending on accounting year end.

19 January
• Pay PAYE, NIC, CIS and student loan liabilities for month ended 5 January 2015 if not paying electronically.
• File monthly construction industry scheme return.
• Payment of PAYE liability for quarter ended 5 January 2015 if average monthly liability is less than £1,500.

21 January
• Submit supplementary Intrastat declarations for December 2014.

22 January
• PAYE, NIC, CIS and student loan liabilities should have cleared into HMRC bank account.

31 January
• Electronic filing date for 2013/14 personal, partnership and trust self-assessment (SA) tax returns.
• Deadline for various claims.
• Balance of 2013/14 SA liabilities is due.
• Payment of first instalment of 2014/15 SA liabilities.
• 2012/13 SA tax returns to be amended by this date.
• Vulnerable person election by trustees where the effective date is during 2012/13 (form VPE1).
• Election under TCGA 1992, s 169Q to disapply TCGA 1992, s 127 for reorganisations in 2012/13.
• Election to opt out of pre-owned assets charge if this would first arise during 2013/14 (form IHT500).
• Repayment claim for 2013/14 class 2 NICs if a small earnings election was possible.
• Supplementary 2013/14 forms P35 to be filed and Liabilities paid if corrections required under IR35 rules.
• Provision of final 2014/15 tax credit claims (assuming that estimates had been provided by 31 July 2014).
• Reinstatement of 2014/15 tax credit claim if “good cause” is shown for missing the 31 July 2014 deadline.

The Cabinet Office has issued a consultation on the audit and independent examination of charities. The consultation document looks at recommendations to increase the financial thresholds determining whether charity accounts must be audited or examined. It is said that the proposals would make up to 4,000 charities exempt from the “expensive” requirement for a full audit. There are 10 consultation questions and the deadline for responses is 27 January. The consultation includes whether the threshold for audit should increase from £500,000 to £1million or Total assets of £3.26m and income of £250,000 to Total Assets of £3.26m and income of £500,000. Click Here for more details.

Or contact Steve Cresswell on 01271 374138

Our Holsworthy office has moved!

We have a new office, our Holsworthy office has moved a few doors down the road to a sparkly, spacious new office.


The new office contact details are:

Stanhope House
10-11 Fore Street
EX22 6DT

Tel: 01409 253297
Fax: 01409 254534

Email: holsworthy@thomaswestcott.co.uk

Our Seaton branch of Thomas Westcott, have celebrated the 18th birthday of their Yorkshire Building Society agency with a week-long event.

We marked the birthday of the agency opening and thanked customers for their loyalty during the event which ran for a week at the start of this month.

“We’re really proud of the 18th birthday celebration of our partnership with Yorkshire Building Society and were pleased to mark the occasion with a special event for our valued customers,” said Stuart Carrington, partner.

“Thomas Westcott has been part of the Seaton community for 25 years and for the past 18 years we have been proud to be part of Yorkshire Building Society Group offering our customers a range of savings accounts and friendly customer service.

"We’re looking forward to many more years of success with Yorkshire Building Society.”

During the week we invited both old and new customers for free tombola, a name the teddy competition and plenty of sweet treats.

Below are pictures of the Seaton Celebration window displays.


Please click here to read our summary of the Chancellor's Autumn Statement 2014.

We recently posted an article following the Employment Appeals Tribunal’s (EAT) decision that non-guaranteed overtime must be taken into account in calculating statutory holiday pay. Click here to view this article.

Three cases were heard jointly by the EAT (Hertel, Amec  and Bear Scotland) and the EAT granted permission for the claimants in two of the three cases to appeal the decisions.

The Unite Union, who represented the claimants in Hertel and Amec, has announced that it will not be appealing the decision made by the EAT.

This announcement means that there will be no change to the EAT’s decision on the limitations for back dated claims and that workers will not be able to bring claims based on a series of underpaid holiday periods where there has been a gap of more than three months between these periods.  Unite Union has stated that “we don’t want to bankrupt businesses; going forward it is about ensuring employees are paid their fair share”.  

The employers in the two cases may still appeal the decisions made by the EAT; however they are unlikely to do that given they would risk overturning the limitation that was put in place to the benefit of employers restricting the extent to which workers could make retrospective claims.

This latest news should largely alleviate the concerns of many employers that they could be exposed to very significant back dated claims for additional holiday pay.

If you would like further information on how you should react to this ruling please contact your normal Thomas Westcott representative.

The charity commission has recently announced that there will be changes to the charity annual return. The changes will apply for returns prepared in 2015.

There are three new question areas, with questions on:

1. How much income did the charity receive from : Contracts from central or local government to deliver services; Grants from central or local government
2. Does the charity have a policy on paying its staff
3. Has the charity reviewed its financial controls in the period

All charities with income of over £10,000 are required to complete the annual return. Charities with income of over £25,000 are also required to submit accounts to the charity regulator.
We also remind charities that the Charity Commission is getting tougher on those charities which fail to file annual returns and accounts on time.

If you have any queries on the above please contact Steve Cresswell (Head of our specialist charities team) on 01271 374138 or steve.cresswell@thomaswestcott.co.uk



The latest issue of our Taking Account Newsletter is out, CLICK HERE.