Posted on by pete | No Comments
Review of working practices The scope of the Taylor review (Good work: the Taylor review of modern working practices) was indeed a wide one: its breadth or ambition is perhaps demonstrated by the title of its concluding section, Seven steps towards fair and decent work with realistic scope for development and fulfilment. Two principles identified
Posted on by pete | No Comments
Critical business information in real time Every successful business has its finger on the pulse. You need to know the key numbers. Not the numbers in last year’s accounts; they’re out of date. Redundant. You need today’s numbers. And that’s where your cloud accounting system comes in. If you don’t have a cloud accounting system
Posted on by pete | No Comments
The basic rate (BR) of tax remains at 20% for 2017/18, higher rate (HR) a 40% and the additional rate (AR) is 45%. Basic rate applies to the first £33,500 of taxable income, higher rate applies to the next £116.500 Everything over £150,000 is then taxed at 45% (AR) BR can be increased by your charitable
Posted on by pete | No Comments
Auto enrolment continues with pace, are you ready to meet to responsibilities? Emjay Associates are pleased to announce they have partnered with Smart Pensions to offer a cost effective package for both employer and employee. Cal use now for more information.
Posted on by pete | No Comments
The personal allowance increases to £11,500 for 2017/18 tax year. As for 16/17 the allowance is reduced by £1 for every £2 by which adjusted net income exceeds £100,000. This means anyone with net income in excess of £123,000 for 17/18 will not receive the personal allowance
Posted on by pete | No Comments
Sole Trader v Incorporation With the advent of changes in the way dividends are taxed, the big questions is, “Is it worthwhile to incorporate or should I stay self employed?” For the tax year 2016/17 savings can be made on tax as soon as profits go above £6425 (see below). However taking into consideration extra accounts
Posted on by pete | No Comments
With the changes that came into effect from April 2016, it is time to consider the benefits / costs of being an incorporated entity. Key Points 1. There will be no distinction between net and gross sums. What you receive is what you will be taxed on. 2. Dividend income will be added to non-dividend income in
Posted on by pete | No Comments
The end of tax motivated incorporation? The Summer Budget 2015 contained some key measures that were a thinly veiled attack on small business owners. What do you need to be aware of? Dividends. Perhaps the most controversial announcement was the overhaul of tax on dividends. From April 2016 the notional credit system (which sees basic
Posted on by pete | No Comments
Changes As announced in the Summer Budget , buy to let landlords have been dealt a blow as finance cost relief on buy-to-let properties is to be eliminated. It will be reduced by 25% from 6 April 2017 and then reduced every year by 25%, until it is totally removed by 6 April 2020. It will be
Posted on by pete | No Comments
With the advent of RTI and Workplace pensions the onus on employers is becoming greater. Here are our recommendations to keep you on the correct side of HMRC. 1. All new employees must complete a Starter Checklist even if the give you a P45 2. Ensure you process your FPS and EPS before due dates