Certain businesses are required to have more shares issued than would normally be the case, for example a firm of financial advisers may have a capital requirement under the old FSA to have say £15,000 shares issued where a similar business would only have £100. This means that the owner will have had to pay £15k into the business rather than £100, but if the requirement is no longer there, these funds may be extracted. read more
A new tax year and more red tape as employers must now submit an RTI (Real Time Information) report before every payday. For weekly paid employees the first return is probably due this week read more
It has been generally acknowledged that the Budget was a little underwhelming or a damp squib, there was very little for the SME market and actually most of the changes had already been released. These were
For individuals
The main change was the increase in the personal allowance from £8,105 to £9,440 taking more low and part time employees out of tax altogether read more
Despite a raucous Commons and the speaker saying that pantomime season is not for another 9 months there were not many noteworthy changes announced to elicit this reaction.
The summary of the state of the economy was in brief: inflation target remains at 2%; OBR has said triple dip recession read more
With company cars becoming increasingly targeted by the government these are becoming less of a benefit except to higher mileage business users. For users who may need a van or the load space that is would provide this may well be a viable option
read more
The details provided below are in response to requests from clients of AW Accounting in Gravesend for details of what to provide at the year end. This specifically relates to Sage read more
This scheme was set up by the government to encourage a healthier workplace, and is available to all employers. There are of course a few conditions and only certain items of equipment may be purchased.
The scheme must be open to all employees, whether or not they can or wish to make use of it and allows the employer to buy and loan to the employee:
In the recent case of Dr Samadian, HMRC have won in asserting that some travel from the home office to hospitals for private work was personal rather than allowable read more
This post is specifically for clients and others using Moneysoft Payroll Manager and details the checks and steps you should be taking before RTI is introduced in April 2013. read more
By now most employers will be aware that HMRC is introducing real time reporting of payroll information (RTI: Real Time Information) every time employees are paid. This means that many of the forms which are currently submitted during and at the end of the tax year will be superceded:
Employers will need to be more diligent read more