Leading Weybridge accountants TWP are encouraging companies to get to grips with the latest online accounting technology to help their businesses grow. Over the last few years the prevalence of online accounting has grown massively in the UK, with thousands of businesses making use of technology to improve their finances. This has become all the […]
Research by consumer group Which? has revealed that many loyal bank and building society customers are experiencing “woeful” interest rates from their ISAs. The group analysed 212 ISAs from 21 UK providers to assess what rates they had on offer. The Which? survey found a significant number of ISA rate cuts over the last six […]
On 23 June 2016 the UK’s electorate took the decision to leave the EU. This decision has left many people wondering how it will affect their finances in future years. Whilst it is impossible to give a definite answer there are certain things that are already becoming clearer, despite the overall picture remaining very uncertain […]
More than 100,000 people are set to receive a letter from the government informing them that they are unlikely to receive the new flat-rate state pension. Earlier in the year, the Work and Pensions select committee had called on the government to act urgently to let the large number of people who will not receive […]
These rates are the suggested reimbursement rates for employees’ private mileage in their company cars and are reviewed each quarter on 1 March, 1 June, 1 September and 1 December. In line with an increase in fuel prices, the rates that apply from 1 June 2016 are shown below: engine size petrol diesel LPG 1,400 […]
Employees are no longer taxable on trivial benefits in kind, provided the cost to the employer is less than £50. This must not be cash or vouchers or a reward for past or future services but is intended to cover gifts of flowers on a birthday or a turkey at Christmas.
It’s that time of year again when the annual return of benefits in kind and expenses paid on behalf of directors and employees needs to be made to HMRC. Unless the employer holds a dispensation, this includes expenses such as travel and subsistence that are reimbursed to employees and directors. Note however that from 2016/17 […]
Where a sole trader, partnership or LLP has established a significant value for the goodwill of their business it was possible up until 3 December 2014 to transfer that goodwill to a limited company and pay just 10% capital gains tax by claiming entrepreneurs’ relief. The former owner(s) could then draw down on the loan […]
The VAT Flat Rate Scheme is intended to simplify VAT accounting and reporting for small businesses, and some may even find that they pay less VAT than using normal VAT accounting. To join the scheme your VAT turnover must be £150,000 or less (excluding VAT), and you must apply to HMRC to use the scheme. […]
Date What’s Due 01 July Corporation tax for year to 30/09/15 06 July Forms P11D and P11D(b) for 2015/16 tax year, and where appropriate form P9D 07 July Form 42 – shares issued to employees and directors 19 July PAYE & NIC deductions, and CIS return and tax, for month to 5/7/16 (due 22 July […]
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