The auto enrolment pension increase 2019 will typically mean employees pay 5% and employers pay 3% into the pension scheme. When auto enrolment was first announced back in 2012 a phasing of contributions was setup. The phasing was set up […]
The optimum directors salary 2019/20 will be £8,632 per annum which equates to £719 a month or £166 a week. This is the most tax efficient amount for the majority of directors to pay themselves. Owner managed businesses can typically […]
Do Directors need to submit a tax return? Up until January 2019 HMRC have always insisted that a personal tax return be completed by a Director. This however was not the law. The law, do Directors need to submit a […]
Tax code 1250L will be the most common tax code for the tax year 2019/20. Most taxpayers will receive an updated tax coding notice from HMRC. This will be received from HMRC within the next few weeks if it hasn’t […]
Have you missed the January tax deadline? If so, it is important to act now as the penalties and fines will only increase. More than 700,000 taxpayers are reported to have missed the January tax deadline, so you are not […]
What will VAT after Brexit mean for you and your business if “No Deal” becomes a reality Although, we are yet to have an outcome, this is what the government believe VAT after Brexit “No Deal“ will mean for you. […]
Autumn Budget 2018 Capital Allowances The Autumn Budget in 2018 confirmed the following changes to capital allowances: Structures and building allowance A new capital allowance will be available for new non-residential structures and buildings. The capital allowance is at a […]
Autumn Budget 2018 Annual Investment Allowance The Autumn Budget in 2018 confirmed the following changes to the annual investment allowance: Annual Investment Allowance – what is it? The annual investment allowance is a tax relief for the purchase of assets […]
Autumn Budget 2018 Corporation Tax The Autumn Budget in 2018 confirmed the following changes to corporation tax: Corporation tax rates The current corporation tax rate is 19%. This is payable on Limited company profits. The government had previously already announced […]
Autumn Budget 2018 IR35 The Autumn Budget in 2018 confirmed the following changes to IR35: What is IR35? IR35 is the legislation which prevents employees disguising themselves as self-employed through Limited company status and therefore paying less taxes. Employees and […]