The following quote is from information recently published to HMRC’s website: ‘HM Revenue & Customs (HMRC) recognise that some small employers who pay employees weekly, or more frequently, but only process their payroll monthly may need longer to adapt to reporting PAYE information in real time. HMRC have therefore agreed a relaxation of reporting […]
08
Apr
Apr
In the distant past Government supported home buying by offering tax incentives. It has been some years now since UK taxpayers could obtain tax relief for mortgage interest payments. The MIRAS arrangement, where tax relief at the basic rate was deducted from mortgage interest payments by the lender, was the last and fading effort at […]
08
Apr
Apr
A new Childcare Scheme will be introduced to support working families with their childcare costs and will replace the current salary sacrifice scheme. Unlike its predecessor, the new scheme will be available to the self-employed and those on a minimum wage. Also parents will be able to choose their own voucher provider, as the new system […]
08
Apr
Apr
The Government is to introduce an allowance of £2,000 per year for all businesses and charities to be offset against their employer Class 1 secondary NICs’ bill from April 2014. The allowance will be claimed as part of the normal payroll process. The Government will engage with stakeholders on the implementation of the measure after […]
02
Apr
Apr
As you may know, there is a nasty tax trap by reference to the gradual withdrawal of the personal allowance if your taxable income exceeds £100,000. This is via a reduction of £1 of allowance for every £2 of excess taxable income. For 2013/14 the trap potentially applies to even more taxpayers with the increase […]
02
Apr
Apr
Marketing plays a key part in business development. So, what do you and how do you do it? First of all, remember the golden rule – “If nobody knows who you are, what you do and the how they could benefit from your product or service, the phone will never ring and you will fail […]
27
Mar
Mar
This new idea will eventually be worth up to £1,200 per child, and so will save a typical working family with two children under 12 up to £2,400 a year. It will not be phased in until Autumn 2015 and will ultimately be open to around 2.5 million families with children under 12. From the […]
21
Mar
Mar
PERSONAL Help for home buyers Two schemes are available. Help to buy: equity loan This scheme will run for three years from 1 April 2013 and is proposed to provide £3.5bn of additional investment. • The scheme will apply to new builds only • All house buyers can apply – this scheme is not restricted to first-time […]
Business Taxes, PAYE, Personal Taxes, Self Assessment, Tax Planning
Budget 2013 – a Budget for an aspiration nation?
20
Mar
Mar
The Chancellor delivered a bleak economic forecast when he stood up this afternoon, admitting growth in 2013 would be 0.6% – half the 1.2% he predicted four months ago in the autumn statement. However, growth forecasts for the economy in future years are forecast to be in more positive territory, with predictions of 1.8% growth […]