Welcome to our newsletter.

This is the newsletter from Grey and Green, Mackenzie Spencer and Eastmonds. This issue includes a new staff appointment at Eastmonds and a new penalty risk in relation to salary sacrifice.  We hope you find it informative and would appreciate any feedback you have.  Please email lorna@mackenziespencer.co.uk with your comments or suggestions.

A New Staff Appointment at Eastmonds

Annette Dean, Assistant Accountant at Eastmonds
We have recently appointed Annette Dean to the position of Assistant Accountant
Annette has moved from a practice in South West London where she has worked since she graduated from the University of Kent in 2015. 
 
Annette said: "I'm looking forward to joining Eastmonds and gaining experience within corporate finance as this is a new area to me."
 
Chris Sellars, Managing Director of Eastmonds, said: "We are delighted to welcome Annette to Eastmonds and I'm sure she will prove to be a very valuable member of the team."

Salary Sacrifice - New Penalty Risk

Since 6 April 2016 using travel and subsistence costs as part of a salary sacrifice arrangement has been banned however HMRC is aware that some employers haven't got the message.  While you can continue to pay your employees HMRC's approved flat rate travel and subsistence payments, any corresponding reduction you have made in their salaries must be reversed.

The way to do this is to pay your employees salary instead of the travel and subsistence allowances then renegotiate payments of the latter.  This will increase your costs but the alternative is to risk action by HMRC.  This could leave you liable for the cost of the extra tax and NI that would usually be payable by your employees.  There could also be a fine.

For more information or guidance on this issue, please contact either Grey and Green on 0114 267 0911 or Eastmonds on 01628 788 530.

Reminder to all Eastmonds & Grey and Grey Clients

Please remember to send your tax return information to us by 30th December 2016 so we can file your self-assessment tax return by the deadline of 31st January 2017.

If you have any queries, please contact us as soon as possible:

Eastmonds – 01628 788 530

Grey and Green – 0114 267 0911

Merry Christmas and a Happy New Year!

We would like to wish all of newsletter readers a very Merry Christmas and a Happy New Year

Instead of sending a traditional Christmas card, we have made a donation to Macmillan.  Find out more about the important work they do at
www.macmillan.org.uk 

Our offices will close at 5pm on Friday 23rd December and will reopen on Tuesday 3rd 2017.
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