According to a poll of 36,000 working parents with primary school-aged children, nearly two-thirds don’t have enough childcare to cover the six-week school summer holiday period this year, increasing to three-quarters among single parents. What are your options in being flexible towards them? Thanks to the coronavirus pandemic, nearly 20% … READ MORE
Coronavirus Job Retention Scheme Covid-19 Support for Small Businesses Under the new Coronavirus Job Retention scheme, government grants will cover 80% of the salary of PAYE employees who would otherwise have been laid off during this crisis. The scheme, open to any employer in the country, will cover the cost … READ MORE
When starting out as a small business, you quickly realise the importance of invoicing promptly. Cashflow is everything. And with the absence of a guaranteed bank deposit every month from an employer, making sure that you get the money is vital to getting through those early days.No matter how brilliant … READ MORE
Business entertainment Income and corporation taxes prevent businesses from claiming a deduction from profits for expenses spent on business entertainment. This includes taking clients out for a meal or attending a sports event. There is a similar rule for directors and employees but to prevent being taxed twice the same … READ MORE
A staff party or an annual function qualifies as a tax-free benefit for your employees providing that you meet the following conditions: The total cost must not exceed £150 per head, per year. £150 includes VAT together with any extra costs such as transport and accommodation. The £150 is a limit and … READ MORE
In the run up to Christmas we thought we’d give you a few hints and tips about tax efficient benefits for your employees.April 2016 brought in new rules for trivial benefits. There is no annual requirement, and it covers small non-cash gifts, e.g. flowers, wine, meals etc. Unlike the Christmas … READ MORE
Changes to the VAT flat rate scheme could significantly affect the tax liability of small businesses that currently make use of the scheme. The flat rate scheme simplifies the process of calculating how much VAT a business needs to pay or claim back from HMRC. It introduces a fixed rate … READ MORE
Did you know that just as businesses are getting over the huge cost and upheaval from the Automatic Enrolment regime HM Revenue and Customs (HMRC) are introducing ‘Making Tax Digital’ (MTD)Whilst the final details are yet to be finalised, the 2017 Spring Budget saw the announcement that in essence from … READ MORE
VAT, Finance & Tax Changes – 2017 A number of tax and finance changes are set to take place in 2017. It is important to start planning ahead of time so that you take advantage of any opportunities available. Some of the changes are in the process of being legislated … READ MORE