Pension Automatic Enrolment is with us and the staging dates for smaller companies are on the horizon. Between 2015 and 2017, over 1 million companies will be staging, which is a staggering 51,134 companies per month. There is a wealth of information available on the Pension Regulators website www.thepensionsregulator.gov.uk but we have summarised the key […]
In the Summer Budget Newsletter we outlined the new rules for the taxation of dividends that will apply from 6 April 2016. Further guidance has now been published by HMRC setting out how the new rules will operate and it seems the rules don’t work as many people expected. As previously reported, there will be […]
The 80/20 Rule The Pareto principle (also known as the 80–20 rule, the law of the vital few, and the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes. Management consultant Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo […]
Xero is designed to automatically import your bank, credit card and PayPal transactions using bank feeds to make reconciling your bank accounts faster and easier. Before now, you had to take your bank statement and manually entered the transactions into your desktop accounting software. Then you needed to perform a reconciliation to make sure the […]
Have you received letters from The Pension Regulator (TPR) telling you to “ACT NOW” to prepare for auto enrolment? An initial letter asks you to nominate a contact to receive communications about auto enrolment, a second one will be asking for details about your chosen scheme. There will also be threats of fines or prosecution […]
Changes announced in the Summer Budget may significantly increase your tax liability if you have a property business – including a single buy to let – read on…. Now At present, full tax relief is available for interest on a loan used in a property business. The funds may have been used to purchase the let […]
Uproar amongst business owners, the entrepreneurs of now and the future has resulted in a petition being put to the Government to which there is now an official response : “The Government is committed to supporting entrepreneurs and a fair tax system. Dividend tax reform allows further cuts in Corporation Tax and reduces the incentives […]
HMRC collected an additional £26.6bn from compliance in 2014/15, and has been given an additional £800m to pursue non-compliance and tax evasion. Please click to download the latest which highlights the increased risk posed by current HMRC activity and tactics. If you are not currently insured with us then do contact us
From the 1st October 2015 the new National Minimum Wages (NMW) will come into force Year 21 and over 18 to 20 Under 18 Apprentice 2015 (from 1 October) £6.70 £5.30 £3.87 £3.30 2014 (current rate) £6.50 £5.13 £3.79 £2.73 With a further increase in April 2016 for over 25’s to £7.20 per hour. […]
One of the major announcements in the Summer Budget, affecting owner managed businesses was the proposed changes to dividend taxation. Very little was announced on Budget Day but the Government have now published a factsheet providing further details on the Dividend Allowance which also provides examples of how the new tax allowance will work when […]