Keeping your company records in legal requirements is a time consuming process, so how can you keep this to a minimum? As owner/director of your business your main priority is about making your business successful rather than being a slave to paperwork/admin/recordkeeping. But you can’t avoid this completely as company law requires a minimum level Read more about Company records – what’s the bare minimum?[…]
The National Minimum Wage rate per hour depends on your age and whether you’re an apprentice – you must be at least school leaving age to get it. YEAR 21 AND OVER 18 TO 20 UNDER 18 APPRENTICE* 2014 (current rate) £6.50 £5.13 £3.79 £2.73 2013 £6.31 £5.03 £3.72 £2.68 2012 £6.19 £4.98 £3.68 £2.65 2011 Read more about National Minimum Wage rates from 1 October 2014[…]
Savings From 6 April 2014 the overall ISA savings limit will be increased to £11,880 of which £5,940 can be invested in cash. From 1 July 2014 ISAs will be reformed into a simpler product, ‘NISA’ and all existing ISAs will become NISAs. From 6 April 2015 the current 10% tax rate will be reduced Read more about Main points from the 2014 budget[…]
In the government Autumn statement last year, it was announced that from 6 April 2014, employers would be refunded the first £2,000 of their employers’ NIC (Class 1) each tax year. More on this has now been announced… You can only claim the £2,000 employment allowance against one PAYE scheme even if your business has Read more about Employment Allowance[…]
Such a simply question can produce a complicated answer, but 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 entailment to state benefits. Read more about As a director, what should I pay myself in 2014/15?[…]
Most people have a Personal Allowance – an annual amount of tax-free income. The rates of Income Tax you pay depend on how much taxable income you have above your allowance. Personal Allowances: AGE AMOUNT Up to and including 64 £10,000 65 to 74 £10,500 75 and over £10,660 For every £2 your income is Read more about Personal allowances, rates and bands 2014-2015[…]
Following a consultation, the government is to almost halve the processing time for donations from 60 to 35 days, allowing charities to access the money that has been donated more quickly. To read more on this story visits: https://www.gov.uk/government/news/payroll-giving-overhaul-announced Did you know: Payroll giving enables employees to donate money to charities directly from their salary before Read more about Payroll Giving Process to be simplified[…]
HMRC have issued a new flat rate for business use of home, based on the hours your work from home each month, which replaces the £3 per week. This means you don’t have to work out the proportion of personal and business use for your home, eg how much of your utility bills are due to Read more about Business Use of Home[…]
From one wo/man bands to larger companies, bookkeeping is a significant part of any business . While it isn’t typically one of the more glamorous jobs, bookkeeping is at the heart of any company’s success, and errors can cost the company significantly. Below are some of the most common errors that I cover when training Read more about 8 common bookkeeping mistakes to avoid[…]
The National Minimum Wage rate per hour depends on your age and whether you’re an apprentice – you must be at least school leaving age to get it. Year 21 and over 18 to 20 Under 18 Apprentice* 2013 (current rate) £6.31 £5.03 £3.72 £2.68 2012 £6.19 £4.98 £3.68 £2.65 2011 £6.08 £4.98 £3.68 £2.60 2010 Read more about National Minimum Wage rates from 2013[…]