Goodbye Annual Return Hello Confirmation Statement

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From 30 June 2016 the Confirmation Statement replaced the Annual Return.

The Confirmation Statement is intended to serve roughly the same purpose as the Annual Return but rather than providing a snapshot of your company data at a specific date, you now need to confirm that the information held at Companies House is accurate and up to date. 

As with the Annual Return reminders to file the Confirmation Statement are posted out from Companies House to the Registered Office advising that the Confirmation Statement is due.

Changes that can be submitted with the Confirmation Statement using the additional part of the form are:-

Principal business activities or standard industrial classification (SIC).

Statement of capital.

Trading status of shares.

Shareholder information.

Information about people with significant control (PSC)

Other changes (for example, registered office address or officer appointments) need to be completed separately, either before the Confirmation Statement or at the same time.

TorrWaterfield includes preparing the Confirmation Statement for clients to check, sign and return before then submitting it to Companies House, as part of our Registered Office service. This additional service can also be completed for any client upon request.  

Please contact us on 0116 242 3400 if you would like any further information regarding the new Confirmation Statement.

Heather Waterfield

Administration 

Torrwaterfield 2016 Challenge !

As you are aware each year Torr Waterfield choose a charity to support and then for that year we raise money by holding different events. Our chosen charity this year is  LAMP (Leicestershire Action for Mental Health Projects). LAMP works to support those in mental distress in our community. Mental health is often stigmatised within society and as a consequence under-funding for mental health charities is a constant issue. Their advocates support and protect the rights of vulnerable people in mental distress who are often unable to voice their needs and concerns, explain their rights and protect these rights. Please visit the website

www.lampdirect.org.uk for more details

We have already held a Karting event on 10th May and raised a staggering £1,200. To follow this in September about 30  of us, staff, family and friends are off to the Lake District to walk around Lake Windermere, the largest lake in England.  Whilst this sounds a bit of a stroll, the length of the Lake is only 10 1/2 miles, due to the fact that you cannot actually walk around the Lake shore the actual distance is actually 45 miles which we are hoping to complete in two days – 24 and 25 September.  This walk circumambulates Windermere and includes just about all the accessible lake shore paths together with ascents of the high points around the lake. It thus offers an ever changing vista of the lake and visits both popular and out of the way places. Although this is a similar distance to last year’s challenge, the terrain of the Lake District is very different to that of the North Norfolk coast! 

We shall be staying in Bowness on the east side of the lake.  Bowness has its origins in the 11th century, when the area was colonised by the invading Vikings, the name is said to derive from the Old Norse ‘bogi nes’ meaning ‘promontory shaped like a bow’.   Each morning we will take the ferry over to the other side of the lake.  The plan is to walk the top part of the lake on the first day ending back in Bowness and then on the second day the bottom half of the lake again ending back in Bowness.  We are obviously hoping for lovely weather, but that is never a given in the Lake District, and provided we can get a mobile signal we shall be updating you with pictures during the weekend. 

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It would be incredible if you could show some support for the team and make a donation small or large, Its all for a great cause. Please Click Here.

Julia Harrison, Tax Manager

We’re Sponsoring The Women in Business Awards 2016

Here at Torr Waterfield we are delighted to sponsor the Leicestershire Women in Business Awards for a second year in 2016. This year we are sponsoring the Entrepreneur of the year award. 

The Awards, which are run by the Leicester Mercury in partnership with the University of Leicester, highlight the contribution made by female professionals and entrepreneurs working in our local business community, women who will hopefully inspire the next generation. The inaugural Awards ceremony last year was a great success.

Over 50% of our team is female; we have business women at different stages of accountancy qualification, from trainees to those with many years of qualified experience, and there are many females in our vital and valued administrative support team.

So for us, it is quite appropriate to support and encourage women in business, and to endorse the principle of the recently proposed implementation of regulations in relation to gender pay gaps.

Given our own background of continuous growth since our formation, it is so important to us locally to have women (and men) with endeavour and ingenuity, who are willing to take the extra step, and occasionally to take a calculated risk, to create and build a business of outstanding quality.

 We at Torr Waterfield look forward to reviewing the attributes of the nominated candidates in our nominated category, and to meeting the winner at the Women in Business Awards ceremony later in the year.

To make a nomination, visit:

www.leicestermercury.co.uk/womeninbusiness

The 2016 award categories and sponsors are as follows:

Apprentice Award – Leicester College.

Business Woman of the Year – Costco.

Community Champions Award – Smallman & Son.

Entrepreneur of the Year Award – Torr Waterfield.

Inspirational Woman of the Year – Spearing Waite.

Innovation Award – Pole Arnold.

Lifetime Achievement Award – BHIB Insurance.

New Business of the Year – ER Recruitment.

Rising Star Award – Search Consultancy.

Small Business of the Year – FSB.

Sole Trader Award – Bobby Dhanjal Wealth Management.

Women in the Public Sector Award – Weightmans

Last day to nominate is 23rd August 2016 – To Nominate Click Here 

Peter Morris

Director_DSC4779

Extending your PAYE payment deadline the easy way

We all know it is very important to pay your taxes to HMRC by their deadlines to avoid any late payment interest and penalties.

The statutory deadline for paying Employers PAYE liability is the 22nd of the month – or the 19th if paying by cheque through the post.

Different ways to pay your PAYE include:

  • By Debit or credit card online
  • BACS
  • At your bank or building society (cash or cheque)
  • At the post office (debit card, cash or cheque)
  • Direct Debit
  • By Cheque through the post

HMRC’s preferred option is that you make your payments online as this saves them money and hence saves you, as the tax-payer, money as well.

For employers, the advantage of paying with online banking is that the deadline extends by 3 days to the 22nd. If your bank offers faster payments this means you can pay on a Saturday/Sunday if the 22nd falls on the weekend.

Whereas, if you pay by BACS you would have to put the payment through 3 working days before the deadline for it to clear and paying by direct debit would mean having to pay it 5 working days before the deadline.

If you pay by posted cheque, the recommended time of posting is around the 12th of the month – 10 working days before the payment is due!

You can see the different payment deadlines in the diagram below: 

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PAYE Timeline 

To increase your payment deadline, paying by faster payments, CHAPS or personal banking will be the best option. Paying by cheque gives you the shortest deadline as you have to give it time to arrive with HMRC and for the payment to clear.

If you have a debit or credit card you can give us a call and we can pay your liability over the phone for you.

Alternatively, if we provide you with our payroll services, we can set up the direct debit PAYE payment for you when the payroll is processed so you have no worries about paying it yourself or making sure it is paid on time. For more information on any of the above or to pay your liabilities by card or direct debit please contact us on 0116 2423400.

Zahra Bates, Payroll Assistant