Retirement planning: Property or Pension?
I am booked to attend an online meeting with the ACCA and wealth managers on the topic: “Property vs Pension: how to generate an income in later life” on 7 October 2021 at 12 noon. I’m aware this is a hot issue and I am therefore inviting questions from anyone reading...
Tax & national insurance increases explained
This affects everyone earning a salary or receiving dividends and everyone who is self-employed, including partners in partnerships. National Insurance From April 2022, national insurance rates will increase by 1.25 per cent. This applies to both Class 1 and Class 4...
Making Tax Digital
HMRC are proceeding with their plans to digitise tax administration. We believe that they will further develop their systems so that, when a VAT return is submitted online, they will interrogate the software used for the VAT return submission and ask it if VAT has...
Virtual Help
Virtual Assistance - Practical help out of admin tangles The country appears to be making its way back to something like normal life after Covid. Some of us reading this may be, or soon become, extremely busy with work as suppressed demand for goods and services...
Euro Team
Employing staff from elsewhere in Europe For some years now, it has been the legal responsibility of all employers to verify that all their employees have the legal right to work in the United Kingdom. As of 1 July 2021, if you employ European Union, European Economic...
COVID-19 update: salaries and furloughing
This is relevant to all clients who have a payroll. Even if we do not process your payroll, we suggest you check this point with your payroll software provider. When we run the April 2020 payrolls, we will include the payments made to yourselves and your...
COVID-19 update: can Directors be furloughed?
Background The Government is bringing in a scheme for help with payments to employees who are furloughed as a result of the Coronavirus outbreak. Furloughed means, sent home with no work. For your employees who agree to be furloughed, the Government has committed to...
Aid analysis
Self-employment income support scheme This is meant to cover people whose main income is self-employment, including partners in partnerships. The Government has promised that, if you appear to qualify, HMRC should get in touch with you during June 2020. Please beware...
Reading the rates
The government have announced a business rates holiday for business ratepayers in the hotel, tourism and leisure businesses. Business ratepayers in all business sectors who qualify for full business rates relief will also be given a grant by their local...
A summary of the situation
The current health situation 14 days of Statutory Sick Pay per employee to be met by the Government in full. Business properties with rateable value less than £51,000 will pay no Business Rates. The amount of the Cash Grant that was going to be £3,000 to certain Small...
Breaking down the budget
During the Great Depression, President Franklin D. Roosevelt stated in his Inauguration Speech in 1933, “the only thing you have to fear is fear itself”. Fear The official response to a problem tends to bring about a situation worse than the problem. For...
VAT reverse charge for Building- and Construction services
From 1st October 2020 main Contractors will no longer pay VAT to Sub-Contractors working on projects under the CIS Scheme. Instead, the main Contractor will pay the VAT directly to H M Revenue and Customs. This applies to all building and construction contracts...