Smarter accounting

Accounts for Artists

3 May 2015

Tax breaks for artists Douglas Connell, a tax lawyer at Turcan Connell and chairman of Museums and Galleries Scotland has proposed preferential treatment in preparing tax accounts for artists.  His view is that tax breaks for artists would enrich Scotland’s cultural life.  He would like to see Irish-style tax breaks for “players in orchestras, craft […]

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Tim Alter is proud to be the only top rated accountant in Scotland according to the vouchedfor 2015 listings

Marriage Allowance 2015

12 April 2015

HMRC announced in February 2015 that registration had opened for the new marriage allowance tax break which enables couples to save the princely sum of up to £17.66 a month (£212 a year).   View image | gettyimages.com Marriage Allowance not just for the married The new tax relief, which came into effect on 6 April […]

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Tim Alter is proud to be the only top rated accountant in Scotland according to the vouchedfor 2015 listings

Top Rated Accountant in Scotland

12 April 2015

Tim Alter is the only top rated accountant in Scotland According to the 2015 VouchedFor listings, Tim Alter is the only Top Rated Accountant in Scotland!  Alterledger’s founder, Tim Alter is focused on customer service, and is delighted to have positive feedback from clients.   How VouchedFor works The VouchedFor website is like a tripadvisor […]

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National Insurance for under 21s

18 March 2015

April 2015 changes to National Insurance From 6th April 2015 employers will no longer have to pay National Insurance for under 21s.  To take advantage of this change, you will need to make sure your payroll software is up to date, but you will also need to use one of the new National Insurance category […]

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Class 2 NI small profits threshold

25 February 2015

Changes to Class 2 National Insurance from April 2015 The self employed have to pay Class 2 National Insurance if their profits are over the small earnings limit (£5,885 in 2014-15).  HMRC has overhauled the system with the small earnings limit being renamed the Class 2 NI small profits threshold (SPT).  Until recently self employed workers had to […]

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Relaxed PAYE late filing penalties

24 February 2015

HMRC will not impose PAYE filing penalties for short delays All UK employers are required to report wage payments as Real Time Information (RTI) to HMRC.  Until now this has meant that you need to submit your payroll information to HMRC on or before the date you pay your employees.  However HMRC announced that they have relaxed PAYE […]

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Auto enrolment categories of workers

22 February 2015

Who is entitled to a pension? The three auto enrolment categories of workers are defined by their age and earnings.  Each category is explained in the table below.  Workers must be assessed each pay reference period (pay day) and anyone moving from one category to another must be dealt with according to the regulations. Entitled […]

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Auto enrolment minimum contributions

18 February 2015

 Employer and employee contributions From an employer’s staging date, they are required to provide a pension scheme and monitor the pay of workers according to thresholds set by legislation.  At the time of writing the legislation relating to 2015/16 is still in draft format, but expected amounts are shown in the table below. View image […]

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Auto Enrolment Multiple Postponement

18 February 2015

Can an employer postpone automatic enrolment duties on multiple occasions in relation to the same worker? Postponement is described as ‘postponement of automatic enrolment’ and sometimes referred to as a ‘waiting period’.  Essentially it means the postponement of the assessment of the worker and therefore a postponement of whichever employer duty may apply, depending on […]

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SASEN Conference 2015

17 February 2015

South Ayrshire Social Enterprise Network (SASEN) The SASEN Conference 2015 is taking place at the Carrick Centre in Maybole on 27th February.  It is free to attend for social enterprises by signing up at the Firstport website. SASEN Conference 2015 Workshops Alterledger is joining other social enterprise specialists in holding workshops on various topics to help […]

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Know your staging date

16 February 2015

What is a staging date? Your staging date is the date your automatic enrolment duties come into effect.  You must be prepared for this date, at which point you are obliged to have a suitable pension scheme in place.  The law on the new employer duties and safeguards commenced in July 2012.  Each employer is […]

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Executive Income Protection

15 February 2015

Who pays the piper? For those individuals working for large organisations benefits such as death in service cover and long term sick pay are taken for granted.  As a business owner what are the consequences if you are unable to work?  Whilst an employee may have 6 months full pay and 6 months half pay, […]

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What does my tax code mean?

7 February 2015

Why does my tax code change? HMRC reviews your tax code, often in the autumn and early in the new year, for many people this prompts the question “What does my tax code mean?”.  The purpose of your tax code is to indicate how much of your earnings you can receive before tax is payable.  It […]

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Sage Final Accounts Online

18 December 2014

Major upgrade to Sage One Accounts Sage has been a leader in the market for desktop accounting packages to Small and Medium sized Enterprises (SMEs) for some time, but it has been slow in catching up with other online accounting packages.   What has changed? Enhanced subscriptions have been added over time, including the Accounts Extra […]

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Class 2 National Insurance Contributions

13 December 2014

Changes to Class 2 National Insurance payments If you currently pay your Class 2 National Insurance Contributions by Direct Debit Instruction (DDI) or have recently applied to do so, things are about to change!  The Government announced plans to simplify the way self-employed people pay Class 2 National Insurance contributions from April 2015. Most self-employed people will […]

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Orchestra Tax Relief

4 December 2014

Creative Industries Tax Relief The autumn statement from George Osborne announced a consultation on whether or not to extend Creative Industries tax relief and introduce an Orchestra Tax Relief.  See below for the existing creative industry relief arrangements.   Who can get the Orchestra Tax Relief? The Orchestra Tax Relief in common with the other […]

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Tax and accounts seminar for musicians

7 November 2014

Free tax and accounts seminar for Musicians’ Union members Members of the Musicians Union are invited to a free seminar in Glasgow on 17th November or Edinburgh on 18th November.  See below for booking forms on Eventbrite. Proposed tax breaks for musicians The Smith Commission, headed by Lord Smith of Kelvin is considering a proposal […]

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Move from quickbooks to Xero

5 November 2014

Move to Xero for free! There are plenty of good reasons to consider using Xero for your accounting software.  Now you have an extra reason to change before 31st December 2014.  If you are currently using quickbooks and would like to upgrade to an international cloud accounting system, you can take advantage of a free service to […]

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Changes for Scottish charity reporting

28 October 2014

To maintain public confidence in the work of charities, charity law requires most charities (income over £10,000) to have an external scrutiny of their accounts.

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Tax breaks for artists and musicians?

9 October 2014

Should there be extra tax breaks for artists and musicians? The Republic of Ireland has had special tax breaks for artists since 1979.  Lord Smith of Kelvin will oversee the process of devolving additional powers over tax, spending and welfare to Scotland following the ‘No’ vote in the country’s independence referendum.  Douglas Connell, a tax […]

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Alterledger is a Xero Partner

17 September 2014

Alterledger is proud to be a Xero Partner Xero has created beautiful accounting software (yes really!) and works in partnership with accountants across the globe.  Alterledger is  Xero Partner and is pleased to be able to announce that Xero will be coming along to the Creative Industries Networking for Business event on 19th September.  If you […]

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Creative Networking – Premium Tickets

17 September 2014

Premium tickets released for Creative Networking Event Free tickets are still available for the Creative Industries Networking for Business event on 19th September. If you would like a little extra and a £100 voucher for Alterledger, premium tickets are now available. Online Ticketing for Creative Industries Networking for Business powered by Eventbrite Terms for Premium […]

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Free networking for creatives – early bird offer

14 September 2014

Free networking event for creatives in Soho If you want to meet some like-minded people for free networking and get some free advice on setting up and running your business, sign up on Eventbrite! Online Ticketing for Creative Industries Networking for Business powered by Eventbrite It is happening on Friday 19th September from 6pm in […]

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Guide for start-ups part 2

10 September 2014

How does my start-up get clients? You’ve set up your business and made decisions about forming a limited company, you are ready to trade, but how do you get clients for your start-up? Hopefully you already had some contacts before you started your business, but whatever your situation it is always good to expand your network.  […]

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Guide for start-ups part 1

9 September 2014

Should my start-up be a company? You’ve got a great idea, you’ve thought of a name for your business, but you are not sure whether or not you should set up a company.  You will hear from lots of people in your industry that they have set up a limited company, but is this right for […]

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New Alterledger website

4 September 2014

Alterledger website The new Alterledger website is live. Big thanks to Haiwyre for designing it and getting everything ready.  Have a look round and let me know what you think Tim Alter – Chartered Management Accountant

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Charity collection box

Are your charity accounts being correctly examined?

21 May 2014

To maintain public confidence in the work of charities, charity law requires most charities (income over £10,000) to have an external scrutiny of their accounts.

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Ovivo – Dead as a dodo

22 March 2014

If you have recently signed up for a free subscription to the mobile phone company ovivo, you may be surprised to learn that the company has ceased trading.

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Scottish Advocates and Tax

25 November 2013

There are number of special rules governing the financial accounts of Advocates and Barristers in the UK.  For an overview please refer to my blogpost on the CIMA Accountant website. Computing profits for Advocates Earnings Basis The earnings basis is calculated in accordance with UK Generally Accepted Accounting Principles (UK GAAP). Advocates are taxed on the […]

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Online Accounting

29 July 2013

Almost everyone that uses the internet already uses cloud computing. There are a number of online accounting packages available which make the accounting process easier for small businesses and have the potential to increase profits too.

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