On 6th April 2016 one person (director) companies ceased to qualify for the employment allowance (EA). So you’re now thinking I will add my spouse or partner to the payroll and pay them a token salary each month. However, in HMRC’s Employer Bulletin in February 2016 it says “we will keep you informed through the Read more about Employers Allowance 2016/17 update[…]
Companies House has announced that from June 2016 the Confirmation Statement will replace the current Annual Return. So what does this mean? At least once a year you will need to review the information held by Companies House and confirm whether it is correct or not. What is involved in a Confirmation Statement? Just like Read more about Companies House – Confirmation Statement[…]
You are required to set up a scheme if you are an employer or employee anyone classed as a worker. What is a worker? A worker is defined as any individual who: Works under a contract of employment (an employee), or Has a contract to perform work on services personally and is not undertaking the Read more about Auto-enrolment – when do you need to set up a scheme?[…]
By law every company must maintain a physical register containing certain information about it and its directors and shareholders. However, a change in the rules means that soon this might not be necessary. Changes to the rules in 2015 and 2016 mean that companies are now required to keep and report more information about their Read more about Upcoming changes to the maintenance of the company register[…]
HMRC has published guidance allowing employers to provide trivial benefits without reporting them. You don’t have to pay tax on a benefit for your employee if all of the following apply: it cost you £50 or less to provide it isn’t cash or a cash voucher it isn’t a reward for their work or performance Read more about Tax exemption for Trivial benefits[…]
As mentioned in a previous blog, there are a few changes to the Employment Allowance this year (2016/17), that you need to take note of: The allowance has increased from £2,000 to £3,000 Eligibility – one of the main changes is if you are the directors and only paid employee, you are no longer eligibility Read more about Employment Allowance 16/17 – what does it mean to a sole director of a limited company?[…]
The most common way to pay yourself as a director of a limited company is using a mixture of salary and dividends. Keeping your salary low minimises the amount of National Insurance you have to pay, as dividends does not attract National Insurance. Therefore, most directors take a small salary and the remainder of Read more about New dividends tax – what does it mean as a director of a limited company?[…]
What is a dividend? A dividend is a payment a limited company can make to shareholders when it has made and retained a sufficient profit. For this year 2016/17, the government has chanced how dividend is taxed, you will no longer receive a nominal tax credit, but you will be able to take Read more about Dividends – What is it and how do I pay it (After 6 April 2016)?[…]
From April 2016 all contractors must use the CIS online service to file their contractor monthly returns.HMRC have introduced a number of improvements to the CIS online service to make it easier and more efficient to use.These changes include:• The facility to amend returns online• A new online message/alert serviceSome examples of the type of Read more about Contractor Monthly Returns and Subcontractor Verification[…]
As previously mentioned companies house is moving to Gov.co.uk, well they have and have launched a new online search facility called BETA service available via http://beta.companieshouse.gov.uk So what is available? It currently allows searches of: Company overviews Document images Company officers Disqualified directors Changes to a company registered office address. What else can we expect? Read more about New Companies House online search tool[…]