Archives for Updates

Providing a simple way of remunerating your employees and to reward them for loyalty can create an administrative headache.  Finding the most efficient way that does not result in a PAYE tax or National Insurance liability for you or them can take up your valuable time. Q: What can I provide without creating a liability? You can provide a Company Mobile Phone… …but the contract has to be between the company and the supplier, and the payment must come out of the Company bank account.  Private calls and data allowance for that phone paid directly by you as the employer
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How many hours a pay period does it take you to complete your payroll? With April 2019 bringing in many legislative changes in your business is payroll one thing you can clear off your desk and outsource it to a reliable service provider? Q: What changes are coming in April 2019? National Minimum Wages rates increase to: Employees over 25 £8.21 Employees 21 to 24 £7.70 Employees 18 to 20 £6.15 Employees below 18 £4.35 Apprentices £3.90 Employment Rights Act 1996 (Itemised Pay Statement) (Amendment) (No.2) Order 2018 comes in to force on 6 April 2019, whereby employers must deliver
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Running your business and doing what you do I easy right? Well actually yes, it is, if you’re good at making candles and selling them and you love doing it there’s nothing else to worry about it there? Keeping your books and records up to date isn’t important is it? Erm, it’s probably the MOST important thing you can do for your business. These tips are to help you making the task much easier to stomach when you don’t really want to do it. 1. Be organised There is nothing worse than facing a whole years’ worth of receipts all
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A good friend and colleague once told me these three valuable words – DEATH – DIVORCE – DISPUTE – and nothing can be truer in business.  Let’s look at the 10 reasons you as a shareholder should have an agreement drawn up between you and the other shareholders in your business. A shareholder agreement isn’t a legal requirement, but I believe it should be part and parcel of the incorporation process as a way of regulating the way business between each shareholder is conducted. People fall out – it’s as simple as that Let’s be real, just because you’re in
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  Having recently read the published “The accountant of tomorrow – Accountancy in 2028 Survey” results, a survey conducted by Thomson Reuters, it has reinforced what is needed to make any accountancy practice sustainable for the future – progression. Technology is changing, HMRC are changing the way they deal with data, which in turn means we need to change too.  This led me to look at our client base and see who we can better advise on digital technology going forward and I was surprised to see that 92% of our clients already use digital software to record their financial
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  Making Tax Digital Summer is over, kids are back to school and there are 200 days until the Governments Making Tax Digital (MTD) plans come into force. What does MTD mean for you as a business and what do you need to do as a business owner to make sure you comply? It was announced by the Government that from 1 April 2019 all businesses registered for VAT with a turnover above the VAT registration threshold of £85,000 must keep their VAT records digitally and submit their VAT returns using an MTD compatible software package. Businesses who are VAT
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As accountants who run payroll for many clients we could be receiving a lot of Data Subjects Access Requests (DSAR) from current or ex-employees.  What does this mean for us as data controllers? Well under GDPR we must provide the information requested and have a process for doing so.  We don’t have the same exemptions like lawyers, we cannot rely on legal professional privilege as a reason for non-disclosure. We have put a process together we contact our client to let them know that as data controllers we have received a request we will collate the information we will forward
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In line with the requirements of the General Data Protection Regulations (GDPR) we wanted to reassure you about how we use and store personal data. The data we collect, process and store is related to your engagement with us as a client.  The information we collect is to meet legal requirements and for our legitimate business purposes. We have updated our Privacy Policy and a copy can be found here.
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Fascinating blog post from our client – Mark Jennings FIRST TIME BUYERS & THE PROBLEM WITH MORTGAGES  Looking to get on the property ladder but it just seems a distant dream? Well, you are certainly not alone and with increasing deposits and stricter mortgage rules, it seems that generation rent could be here to stay for a while. In recent years, we have seen successive Governments throw all sorts of schemes at the property market to try and help you on the ladder – help to buy, shared ownership and removal of stamp duty up to £300,000 recently. All of
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Keeping up to date with the latest changes in tax can be challenging.  Access our guide below for ease.
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