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How do you ensure tax compliance for your business easily and affordably?

Tax compliance is a hot button issue for all companies. There are few words more dreaded than “taxation” – and with good reason. When you consider the list of sanctions, citations, and fines you may be liable to for making a mistake with your taxes, tax compliance can seem impossible to achieve. Certainly while also … Continue reading “How do you ensure tax compliance for your business easily and affordably?”

Why outsourcing accountancy is the best option for hospitality businesses

Many businesses choose to outsource their accountancy services – but why? As a hospitality business, you stand to enjoy many benefits by outsourcing your accounting needs to specialist hospitality accountants. Gain precious time Time is one of the most valuable commodities anyone has, and if you run a hospitality business you’ll know it’s all too … Continue reading “Why outsourcing accountancy is the best option for hospitality businesses”

Avoid a Tax Investigation

How can you reduce your chances of a tax investigation? For anyone who runs their own business, one thing probably strikes fear into them than anything else – the dreaded tax investigation notice from HMRC. Whether you are a large limited company or sole trader, HMRC can select you for closer inspection at any time. … Continue reading “Avoid a Tax Investigation”

Let Property Campaign

HMRC is targeting tax evasion by residential landlords. They’ll use information they have about property rental in the UK and abroad and other information they hold on customers to identify people who might not have paid what they owe. The Let Property Campaign gives you an opportunity to bring your tax affairs up to date … Continue reading “Let Property Campaign”

PAYE Quick Tips!

Looking critically at your business practices and processes and then making some appropriate changes can be an effective way of ensuring that you report in real time. Here are some hints and tips which you might find helpful: Ensure your software and business processes are capable of being able to report ‘on or before’ paying … Continue reading “PAYE Quick Tips!”

Reporting your PAYE ‘on or before’ paying your employees: common misunderstandings

Misconception 1 – All employers with nine or fewer employees (micro employers) can always report on a monthly basis. There are two misconceptions here: a) The current relaxation isn’t a permanent ‘easement’ of the PAYE reporting obligations and is due to come to an end on 5 April 2016. b) It is not open to … Continue reading “Reporting your PAYE ‘on or before’ paying your employees: common misunderstandings”

National Minimum Wage – October 2015

National Minimum Wage (NMW) As you may be aware, National Minimum Wage changes in October every year. As released in the annual budget, the National Minimum Wage rates that apply from 1 October 2015 are as follows: 2015 – 2016 rates: adult rate: £6.70 an hour (previously £6.50 per hour) youth rate for those aged … Continue reading “National Minimum Wage – October 2015”

Summer Budget – Key Points…

The Chancellor has presented his Summer Budget to Parliament – here’s a summary of what was announced. 1. Introducing a new National Living Wage of over £9 an hour by 2020 From April 2016, a new National Living Wage of £7.20 an hour for the over 25s will be introduced. This will rise to over … Continue reading “Summer Budget – Key Points…”