Choosing tax and national insurance efficient types of income to draw from your company can make a big difference to its worth to you. The Options Salary – As a rule of thumb, salary within of the national insurance threshold (£8,164 for 2017/18) is the most efficient option Dividends – This option became less Read more about Director’s – Salary, Dividends or perks?[…]
Such a simply question, you would think, however it produces a complicated answer. For this calculation, we have assumed the following: The director wants to preserves their entitlement to state benefits, and The director wants a salary which saves the most tax and national insurance. First of all let us look at preserving your entitlement Read more about As a director, what should I pay myself in 2019/20?[…]
You can apply for 2 grants to help your business complete customs declarations, in preparation for the UK leaving the EU. You can apply to get funding for: training that helps your employees to complete customs declarations and processes IT improvements to help your business complete customs declarations more efficiently Who can apply You can Read more about Apply for grants if your business completes customs declarations[…]
The 2019/20 statutory payments have now been announced as follows: Statutory maternity pay Statutory paternity pay Statutory adoption pay Statutory shared parental pay £148.68 p.w Daily rate £21.24 Effective 31 March 2019 Recovery rate 92% unless your total class 1 National Insurance for the previous tax year is £45,000 or lower when Read more about Statutory payments announced for April 2019[…]
Deadline for submitting your 2017/18 self assessment return (£100 automatic penalty if your return is late) and the balance of your 2017/18 liability together with the first payment on account for 2018/19 are also due. This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to Read more about Self assessment (Tax Return) Deadline filing deadline is fast approaching[…]
Who is this for? Business that issue vouchers to customers which they can exchange for goods or services and are VAT registered. When does it start? 1 January 2019 What’s happening? From 1 January 2019 vouchers will fall into tow categories: Single purpose Multi-purpose VAT will be triggered depending on what the voucher entitles your customer to: Single Read more about New VAT rules for some vouchers[…]
From 6 April 2019 your business will have to give every worker on its payroll (not just employees) an itemised pay statement (i.e. payslip) and some new information must be provided. This is because the Employment Rights Act 1996 (Itemised Pay Statement) (Amendment) (No.2) Order 2018 comes into force. So Whats happening? It will extend Read more about Changes to the law on payslips[…]
In November 2018 HMRC wrote to over two million customers, with their main residence in wales, telling them about WRIT. All people living in wales subject to Income Tax, including individuals who earn below the Income Tax threshold, should have received a letter. Employees or people who receive a pension will be given new tax Read more about Welsh rates of Income Tax (WRIT)[…]
It has been a year since the rapid increase in the value of cryptoassets, most notably in bitcoin, since the peak observed in December 2017. With the Self-Assessment (SA) deadline approaching you will need to consider how to treat them for tax purposes. The term ‘cryptoassets’ Is an umbrella term that encompasses all different types Read more about Cryptoassets[…]
We are delighted to announce that our Director Sam, was the Winner of the IAB UK and International Business and Skills Awards 2018 for Accountant of the year. This national award recognises either an accountant or firm of accountants that has made an invaluable contribution to their clients, by going above and beyond to help Read more about Winner in IAB UK and International Business and Skills Awards 2018[…]