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The Letter Came… It’s Your Turn for a PAYE Audit How To Get Through It Unscathed

November 12, 2015 by in category Payroll tagged as , , , , ,

Every now and then it happens – business owners receive a letter that often chills them to the bone (even when they are complying completely with the letter of the law)… It’s your turn for a PAYE review, and HMRC is going to carry out an audit on your company. It’s okay though. As long […]

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I Need A Company Car… But I Don’t Need A Tax Headache!

October 22, 2015 by in category Business tax, Taxation

How To Make The Most Of Your Tax Allowances and Still Drive Away A Great Deal Company car tax is confusing. You know that, and we know that, and anyone who doesn’t know that has never had to worry about it – you might say they are the lucky ones but, don’t forget, they don’t [...]

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Tax & Chocolate: Good, Bad, and Decidedly Naughty (Or Is It?)

October 22, 2015 by in category Taxation

  It’s National Chocolate Week here in the UK (hooray!), a themed week that celebrates the nation’s favourite sweet treat in all its gluttonous, glutinous glory. This is the eleventh stupendous year of cuddling up with cocoa, and the big Chocolate Show in London is the culmination of our love for this confection. But whilst […]

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National Minimum Wage

October 1, 2015 in category Business, Payroll

The National Minimum Wage increases to £6.70 on 1 October 2015. Other rates are as follows: 18 – 20 year olds £5.30, under 18s £3.87, and apprentices £3.30. See National Minimum Wage rates.

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What Is the Cycle to Work Scheme?

September 17, 2015 by in category Taxation

Cусlе tо Work ѕсhеmе iѕ a UK Gоvеrnmеnt tаx frееdоm еntеrрriѕе brоught in, in thе Finаnсе Aсt 1999 to рrоmоtе hеаlthiеr jоurnеуѕ tо work аnd tо rеduсе еnvirоnmеntаl pollution. It аllоwѕ еmрlоуеrѕ tо loan cycles аnd cyclists’ safety еԛuiрmеnt tо еmрlоуееѕ аѕ a tаx-frее benefit аnd tо encourage реорlе tо lеаvе the car at hоmе […]

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How Much Does Registering a Limited Company Cost?

August 18, 2015 in category Business, Business planning, Company formation

Setting up a limited company can be a big step forward for your business. Perhaps you’re starting out as a limited company from the beginning or your changing structure after spending time as a sole trader or partnership. Whatever the case, becoming a limited company can offer some definite advantages over being self-employed. However, many […]

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Is There a Difference Between Being a Sole Trader and Self Employed?

August 14, 2015 in category Business, Business planning

Being self-employed or a sole trader is the simplest, quickest and most accessible way to set up your own business. However, many would-be small business owners are unsure quite what this entails, what the requirements are, and how these terms are defined. In particular, a lot of people don’t know whether being a sole trader […]

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Businesses to Lose Out on VAT Refunds After Rules Reinterpreted

July 30, 2015 in category Business, VAT

HM Revenue and Customs (HMRC) has changed the way it interprets important rules regarding the payout of reclaimed VAT. The result is that newly-registered businesses are to lose out on some of the VAT they could have reclaimed after the old interpretation, which has been in use for the past 43 years. The rules in […]

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HMRC Applauded for Move Away from Automatic PAYE Penalties

July 26, 2015 in category Business, Payroll

Businesses and tax professionals have welcomed HMRC’s decision to move away from an automatic penalty system for those who miss PAYE filing deadlines. Instead, MMRC has announced that it will implement a more flexible penalty system which will allow it to take “a more proportionate approach” to small businesses that file late. The change comes […]

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What to do if you Have a Problem With Tax

July 20, 2015 in category Business, Taxation

HMRC are cracking down on tax avoidance. At the moment, their image is a somewhat merciless one when it comes to dealing with issues of undeclared income or problems with compliance. Some smaller business owners, if they realise they have made a mistake or come across some other problem, have a tendency to panic and […]

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