Under the PAYE ‘Real-Time Information’ scheme employers report to HMRC electronically before making any salary or wage payments. To ensure that the right amount of tax is deducted the employer uses the Code issued by HMRC. However, every PAYE Code Number is an estimate, since HMRC cannot guarantee the allowances or deductions included in the […]
Category Archives: Uncategorized
24
Jan
Jan
People who want to run a business or other activity for community benefit rather than for private advantage can register either as a company limited by shares or by guarantee but most CICs are CLG. It’s best to be clear on the distinction between CIC and CLG companies, this post explains the difference. Companies limited […]
28
Dec
Dec
Increasing the normal minimum pension age The normal minimum pension age (NMPA) is the age at which most pension savers can access their pensions without incurring an unauthorised pension charge (unless they take their pension earlier due to ill-health). A registered pension scheme cannot normally pay any benefits to members until they reach the NMPA […]
23
Sep
Sep
Which Taxes are relevant for MTD? Making Tax Digital for Business is a Government initiative also known as MTD. This is a legal requirement implemented and monitored by HMRC – Her Majesty’s Revenue and Customs. Now that we know the meaning of understanding Making Tax Digital in Part 1, this is Part 2 of the […]
11
Mar
Mar
Budget 2021 speach has been delivered on the first of March by Chancellor Rishi Sunak. Click on the link below to read the whole speach. Budget 2021 speach
03
Mar
Mar
Are you sure you are not affected by IR 35 Legislation? 01 April 2021 IR35 is much ignored and confused legislation and will impact many businesses on 01 April 2021. Those businesses that provide services to a client through intermediaries must understand this. Even if you provide services directly to the client, this may impact […]
12
Nov
Nov
Diwali is the last day of the Hindu calendar. This year Diwali is on Sunday 15 November 2020. The next day, Monday 16 November is Hindu New Year. Diwali is a festival of light and colours. It is an auspicious Hindu festival of inspiration and hope. It reminds us of the duty of caring and […]
18
Aug
Aug
Restaurants face a unique range of cashflow and operational challenges. Keeping a restaurant running at its best can be difficult at the best of times, and that’s without the pressure of accounting and taxation eating away. If your restaurant is facing cashflow problems or accounting issues, such as a difficulty predicting tax, calculating VAT and […]
13
Aug
Aug
International investors in the UK property must consider all options when making a decision to acquire assets in real estate. They need to understand and consider several points: The decision to purchase or buy the freehold or to leasing a commercial property Be aware of, and comfortable with, the associated risks and liabilities Be aware […]
04
Aug
Aug
Manufacturers are deeply involved in their frontline operations, and many will have a dedicated finance department looking after cashflow. However, as demand ramps up and pricing pressures take hold, resources can become stretched. It is therefore not uncommon for manufacturers to enlist an accountant to help bring finances and taxation back under control. It’s also […]