A new online payment service was introduced on 15 December 2014 for the payment of Self Assessment or VAT bills by debit card. This is a trial known as a beta service and HMRC is working in partnership with Worldpay. You can still pay HMRC using the Billpay service, however this new service will eventually Read more about HMRC’s new online payment service[…]
Contact HMRC as soon as possible if you are having difficulty paying your bill. You may be given more time to pay the outstanding amount or perhaps pay it by installments. If you have missed the payment deadline you must contact us immediately to possibly avoid enforcement action being taken. Don’t waste any time.
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 2015/16?[…]
The Chancellor has presented the Autumn Statement to Parliament – here’s a summary of what was announced. 1. The UK has the fastest growth in the G7 and the deficit is forecast to be halved – but there is still more to do The UK has the fastest growth in the G7, there are more Read more about Summary of The Autumn Statement 2014: 16 things you should know[…]
At the moment accessing records of businesses held by Companies House costs you £1 per search. Companies House has announced that t is to make all f its digital data, including accounts information and that on appointments and charges, available free of charge from the second. This should make its cheaper for your business to Read more about Free company data[…]
Some businesses that are currently classed as medium-sized for accounting purpose would be considered small under plans to enforce the new EU Accounting Directive in the UK. This is because the department for Business, Innovation and Skills (BIS) is proposing to use the EU’s maximum thresholds for defining s small company instead of the minimum. Read more about Small company limits to increase[…]
So what is ‘Cash basis’ It is a way of working out your income and expenses for your Self Assessment Tax Return. You can use cash basis if you: are a small self-employed business eg sole traders and partnerships have an income of £81,000 or less a year (this is the threshold when you have Read more about Simpler Income Tax: Cash basis[…]
Next month (October 2014) HMRC will be sending out full annual tax summaries for the first time. In 2010 the Coalition promised every tax payer an annual statement of their tax position: not just the Income Tax and National Insurance paid, but also where the money was spent. Four years one and this promise is Read more about New annual Tax Statements[…]
Changes in Government legislation have reduced the paperwork and red tape involved in launching and running a start-up business from home Kitchen table businesses were thrown a bone by the Government recently as part of the ongoing drive to stimulate enterprise in this country. The Home Business initiative aims to make it much easier for Read more about Working from home just got easier[…]
Companies House has announced that its website will soon be moving. Once that happens, you’ll only be able to access its online services through the GOV.UK portal. On 20th May 2014 Companies House quietly issued a statement announcing the forthcoming closure of its website later this year.. This is because its online services are being Read more about Companies House website is moving[…]