Latest News

Show me the Money!!!!!!!

With interest rates so low at the moment, many property investors are attaining
significant profits on their investment portfolio’s.

Many of our clients ask the question, ‘Well if I made so much money, where is it?’

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Special payment notice about electronic PAYE payment dates

PAYE Payment is due Sunday 22 January 2012 - to avoid paying late and late
payment penalties make sure HMRC have cleared funds by the payment.
 

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Merry Christmas from all at Brian McCullagh Accountants LLP
 
We would like to wish all of our clients a very Merry Christmas and a Happy New Year.

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Beware all Principal Contractors and Subcontractors

New Penalty Regime for CIS Subcontractors for failure to meet due date.


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New Forensic Accounting service now available

Jarlath has successfully completed a Diploma in Forensic Accounting with Chartered Accountants Ireland in Dublin which has opened up a new area of service provided by the practice in Forensic
Accounting.

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Additional Partner to BMCCA

We at Brian McCullagh Accountants LLP have strengthened our position as one of the 
independent chartered accountants in the Newry area with the appointment of

Jarleth Farrell as partner. 

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HMRC has called an end to paper VAT

HMRC has recently confirmed that it will cease to accept paper VAT returns from April 2012. They will also switch to only accepting electronic payments from the same date.

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HMR

Changes to making Corporation Tax payments

From 1st April 2011, companies and organisations must submit their Company Tax Returns online and pay all Corporation Tax and related payments electronically. This includes any related payments such as interest charged on overdue Coporation Tax and Penalties for not filing on time. 

You should NOT send cheque payments for Corporation Tax to HMRC after March 2011.

Your options are paying:

  • By Direct Debit
  • By Debit or credit card over the internet: BillPay
  • By Internet, telephone banking or Bacs Direct Credit
  • By CHAPS transfer
  • By Bank Giro
  • At the Post Office
To read more click here ...


Child Tax Credit & Child Benefit

Child tax credit is for working parents and is dependent on how much you earn while child benefits was originally available to all parents (usually the mother) for each child under 16 or under 19 and at college.

However, from 2013, any household with one partner paying higher rate tax, i.e. the equivalent of earning over £42,375 on 2011 levels, will no longer be entitled to child benefits.

The chancellor says that the savings on this will help increase the child tax credit rate. As usual it isn't just as simple as that.  

Changes announced in the emergency budget mean that the threshold for claiming child tax credit goes from the current level of £58,000, to £41,329 by next April, and even lower to £23,275 by 2012.

Brian McCullagh Accountants LLP in Newry have provided this information based on the information available to us from various sources.  Each individual case is specific to the relevant factors of that case and for us to provide accurate advice based on your circumstances, we need you to contact us.
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