Common FAQ’s about Making Tax Digital

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Making Tax Digital – What does it mean for your business? If you are VAT registered then you will need to start to keep a digital record  (i.e. use software to record all your VAT invoices and receipts). If you are not VAT registered then digital record keeping is optional. If you are VAT registered and do not currently use … Read More

Workplace Pension Duties – New Employers

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New employers guide through workplace pension duties Are you taking on your first member of staff as a new employer? If so, you will have workplace pension responsibilities from the moment your new staff start working for you. A great new, simple online tool from the Pensions Regulator makes it easier to understand what you have to do. By answering a … Read More

NEW advisory fuel rates from December

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New advisory fuel rates from December HMRC has released its latest advisory fuel rates (AFRs), to come into force from December 1. There are no changes to the rates for petrol cars, but the rate for diesel cars, with an engine above 2,000cc, increases by 1p per mile (ppm), from 13-14ppm. All other diesel rates remain unchanged. There is also … Read More

Making Tax Digital-Are you ready?

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Making Tax Digital – Are you ready? With the ever looming deadline approaching, 1 April 2019, VAT-registered businesses in the UK will need to submit their VAT returns using “functional compatible software”, as part of HMRC’s Making Tax Digital (MTD) plans. One thing to remember is that from April 2019, if your VAT turnover is above the VAT threshold (currently … Read More

The Budget 2018 for businesses

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The Budget 2018 has been announced. It will be the final one before the UK leaves the EU. It was put forward on Monday 29th October 2018 by Chancellor Philip Hammond. Here is what it means for businesses. Will I pay less income tax? 31 million people pay income tax in the UK –  18 million men and 13 million … Read More

Minimum pension contributions to increase in April 2019

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Minimum pension contributions rates increase again in April Minimum contributions that are set by the government for auto-enrolment will increase again in April 2019. It will be the law. The increase will take the total minimum amount to 8% (at least 3% from you as the employer). This is assuming you’re calculating minimum pension contributions on qualifying earnings. If you … Read More

Campaign warning about pension scams

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Don’t let scammers enjoy yours or your employees’ retirement The Pensions Regulator has joined together with the Financial Conduct Authority to launch the ScamSmart campaign in order to warn savers about pension scams. As an employer you pay in to your employees’ pension, with contributions rising again next April. Don’t let yours and your employees’ money go to waste at … Read More

New employee payslip legislation in April

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New employee payslip legislation for April 2019 New legislation is being introduced in April 2019 changing the requirements of employee payslips. The changes require all workers which include permanent, casual and zero hours employees to be provided with fully itemised payslips. These itemised payslips follow recommendations made by the Taylor Review of modern employment practices, which called for employers to … Read More

Legislation Changes to National Living Wage 2017

What’s changing? The government introduced the National Living Wage (NLW) for employees of 25 years of age or older, effective from 1st April 2016. From the 1st April 2017 the NLW will increase further.

What is Pension Auto Enrolment?

Here is a quick reference guide to get you started. Under the Pensions Act 2008 all employers will have to provide a workplace pension for eligible staff by 2018. This is called Automatic Enrolment (Auto Enrolment).