Monthly Archives: April 2017

Employment Allowance

By | Blog | No Comments

The Employment AllowanceDrummond Laurie Chartered Accountants allows employers to reduce the amount of employer’s Class 1 National Insurance contributions (NICs) payable by up to £3,000 for each tax year beginning with 2014-15. Most employers can claim the relief although there are some notable exceptions which include businesses doing more than half their work in the public sector or, service companies with only deemed payments of employment income under ‘IR35 rules’.  There are also some complex rules for employers with multiple payrolls or groups of companies.

The Employment Allowance can be claimed at any time during the tax year via your payroll software.

budget 1Even if you have ‘missed the boat’, all is not lost. You can make a claim up to 4 years after the end of the tax year to which the Employment Allowance applies. For example, a valid claim for the Employment Allowance for the tax year 2014-15 must be made by the 5 April 2019, although clearly it makes sense to make the claim as soon as possible

Drummond Laurie can help you with this, for more information please contact Gillian Niven, gillian.niven@drummondlaurie.co.uk or 01324 441280

Round the Houses

By | Blog | No Comments

round the houses2Drummond Laurie Chartered AccountantsDrummond Laurie were delighted to show their support yet again for the athletic community by being one of the sponsors for the annual  ‘Round The Houses 10k 2017 race’ run on Sunday 9th April.  We also had two runners this year George O’Donnell who’s in training for the new Stiring Marathon and our newest colleague Andrew Gibson, well done to you both.

This was organised and run by the Falkirk Victoria Harriers and Falkirk Community Trust. falkirkround hre hosues 3

Non-compliance will cost you!

By | Blog | No Comments

pension3

The Pensions Act 2008 set up UK Auto Enrolment and set out the penalties that can be imposed on companies by the Pensions Regulator for Drummond Laurie Chartered Accountantsnon compliance. The penalties can be significant; fines ranging from a flat £400, £50 a day up to £10,000 a day and even imprisonment for up to two years.

To date, the Pensions Regulator has sought to solve issues informally.  As an employer you will receive lots of communications from the regulator in advance of your staging date, you have no excuse!  We’re noticing a change and fines are now being issued as thousands of smaller, less prepared companies start to enrol.

The key to avoiding penalties is to:

  • Be set up correctly on time;
  • Remain compliant; and
  • To fix issues quickly (otherwise fines can build up every day that you are non compliant).

pensions

Drummond Laurie payroll & auto enrolment service could make this process much easier for you contact us before it’s too late, the regulator are now issuing fines for non-compliance!

To find out more please contact gillian.niven@drummondlaurie.co.uk or call 01324 441280.

 

 

 

Help available for Scottish dairy farmers

By | Blog | No Comments

Drummond Laurie Chartered AccountantsfarmIn July 2016 the European Commission allocated money to support livestock farmers in light of the on-going market difficulties they face. An element of this money has been allocated to Scottish dairy farmers to ‘foster economic sustainability, market stabilisation and deal with long term structural problems’.farm 3

The scheme has four rates, three which are based on the price farmers received for their milk during the period Jan–Aug 2016 and the fourth is paid to farmers located in Kintyre, Bute, Arran, Mull and Gigha.

The payment bands are as follows:

  • Procedures in Kintyre, Bute, Arran, Mull and Gigha will receive £4,000 each
  • Average milk price payments:
    • Farmers paid less than an average of 20ppl will receive £3,250 each
    • Farmers paid an average between 20ppl and under 25ppl will receive £2,000 each
    • Farmers paid an average of 25ppl or more will receive £1,000 eachfarm 2

The guidelines here can be referred to as to how the average milk price should be calculated for this.

Although the scheme is open to all dairy farms in Scotland, there are conditions which need to be met and in summary you need to be doing the following at present or be willing to do:

  1. Forward milk production profiling
  2. Milk recording using a company offering a service in accordance with ICAR Recording Guidelines for at least a year

Applications for the scheme need to be in by 5pm on 1st May 2017, so you need to act fast.  The aim is for the money to be paid by 30th June 2017.

The application form can be obtained from the Scottish Government website here

At Drummond Laurie we continue to work with farmers, providing specialist taxation, accountancy and business advice.  Our agricultural team have in depth knowledge and personal experience of the agricultural sector and provide the expert advice that is required to help you run your business.

If you would like to discuss any agricultural related accounting query please contact Margaret Bunyan on 01324 441266 or email margaret.bunyan@drummondlaurie.co.uk.

 

 

Another new face at Drummond Laurie

By | Blog | No Comments

andrew gibson 2Drummond Laurie Chartered AccountantsWe are delighted to welcome Andrew Gibson to our team this week.  Andrew has worked in practice for over 10 years on a variety of businesses and has gained a huge range of experience during this time.  He’ll be working closely with clients producing monthly management accounts whilst ensuring that deadlines are met.

Away from work he goes to watch Hearts and loves spending time with his family.  He’s a runner too, so  his name’s already down for the Strathcarron 10K in  this year!

hospiceThe Strathcarron 10K is celebrating it’s 30th anniversary this year and with a new route through the grounds at  Stirling University,  Sunday 15th October is a date for the diaries!

 

 

 

 

Let's Get Started: Contact Us