Welcome to Read & Co.

Whatever your needs, we can help.Read & Co. is a firm of Chartered Accountants with offices in Martock, Somerset and Sherborne, Dorset offering accounts, taxation and business advisory and support services to a wide range of businesses and individuals.

At Read & Co Chartered Accountants we provide a cost-effective, high value solution to meet all of your financial needs. We work hard to get to know you in order to deliver timely, individual advice on how to improve your business and personal wealth.

To find out more about how we can help you and your business click here for an overview of our services. To find out more about us click here. To access a wealth of information visit our resource centre or view our free factsheets.


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We provide a range of accountancy services and consultancy advice to both businesses and individuals.

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The current hot topic

PAYE penalties

HMRC are getting tough on employers who fail to meet their Real Time Information (RTI) reporting and payment obligations. The RTI automation of PAYE enables HMRC to more closely monitor the operation of the system. Many of the requirements are not new - file on time and pay on time. However, HMRC are now looking to apply these rules strictly and to penalise those employers don't comply.

Automatic in-year late filing penalties introduced

For the majority of employers automatic in-year late filing penalties are introduced from 6 October 2014 for late filed RTI returns. Employers with more than 49 employees whose submissions for the period 6 April - 5 October 2014 are up to date by 5 October will not face in-year late filing penalties. Employers should ensure they bring, and keep, their affairs up to date.

There will be no penalty for the first month of failure but subsequent penalties for an employer who, during a tax month, fails to make a return on or before the filing date will be as follows:

  • 1-9 employees - £100;
  • 10-49 employees - £200;
  • 50-249 employees - £300; and
  • 250 or more employees - £400.

This includes annual and quarterly schemes.

Delay in penalties for some

For small employers, those with less than 50 employees the introduction of penalties has been delayed until 6 March 2015. 

Relaxation for some micro employers

Existing employers with nine or fewer employees are also able to report PAYE information on or before the last payday in the tax month until April 2016.  

The way forward

You need to ensure that you make your RTI returns and pay your liabilities on time, every time. Please do get in touch if you would like to discuss any of these issues in more detail or how we can help with your payroll.