Last Wednesday’s budget brought no great news for many of us. But here is a round up of some of the issues that may affect individuals, business owners and employees. Corporation tax has been cut by another 1% to 20% from April 2015 and small company and main rates of corporation tax merged at 20p. […]
The UK Border Agency is cracking down on illegal workers in the UK and is holding employers accountable for any failure to check their employees’ visa status. The number of foreign workers in the UK is rising year on year especially with the amount of foreign students universities are now taking. So, whether your company […]
It is only a few days until the self assessment deadline. You must send your online tax return by midnight on Thursday 31st January 2013. If your online tax return is late you will have to pay a penalty! This applies even if you have no tax to pay or if you pay all the […]
HMRC have announced that from 9 January 2013 they are embarking on a new campaign to chase up businesses that have one or more VAT returns outstanding. Failure to submit a VAT return is an offence and penalties could be levied on top of any additional VAT that might be due to HMRC. Failure to […]
Earlier this year George Osborne announced plans to withdraw child benefit in full from all higher rate tax payers. However, these changes were widely criticised as being unfair and he has now revised his original plan. From 7th January 2012 those who earn over £60,000 a year will lose their child benefit entirely, while people who […]
It’s certainly been an eventful couple of years since we first opened our doors for business in September 2010.
6th April saw the start of the new 2012/13 tax year. Here are the most significant changes and dates to be aware of. Personal Allowance aged 65 £8,105 aged 65 – 74 £10,500 aged 75 + £10,660 (Personal allowance abates on income above £100,000) Income Tax rates basic rate 20% up to £34,370 […]
The new government have introduced a number of measures designed to help the economy along, one of which was the Employer’s National Insurance (NI) holiday. But what is it and how can you get it? Summary In a nutshell, new businesses taking on staff can claim exemption from paying Employer’s NI. The businesses have to […]