Flat Rate VAT has been an asset to many small businesses by simplifying their administration and usually turning a small profit on the VAT charged to customers.  However, HMRC have decided that the scheme is being ‘aggressively abused’ and they’ve put their foot down to try to stop this abuse by bringing in new legislation… Read more »

The easiest and fastest way to pay your self assessment tax is using the HMRC online payment portal.  All you will need is: The value that you need to pay – This should have been given to you when you signed off your tax return; Your debit/credit card – There is a small fee for… Read more »

Here are the new National Minimum Wage rates for pay periods starting on or after 1 October 2016: £6.95 per hour 21-24 years old £5.55 per hour 18-20 years old £4 per hour 16-17 years old £3.40 per hour Apprentices under 19 and all apprentices in the first year of their apprenticeship The National Living… Read more »

Nobody to put into a pension scheme? You still have duties. Businesses who employ only one member of staff (who is employed on a temporary basis, who earns under the qualifying earnings threshold of £10,000 and who does not need to be automatically enrolled into a pension scheme) will still have automatic enrolment duties. The… Read more »

The Pension regulator has stated: (They are obviously bound by the regulations but continue to highlight the 4th paragraph). Where a contract of employment exists – whether written or implied – then automatic enrolment duties will apply. The key point for an employer here is to understand what elements would constitute a contract of employment,… Read more »

Find all the key points from the Chancellor of the Exchequer’s Budget to Parliament on Wednesday 16 March 2016 in our handy 5-page PDF guide.

We do not endorse or guarantee the products/services on any of the above links.