Smarter accounting

Ian Fordyce

Welcome Ian to Alterledger

31 July 2017

Ian Fordyce CA joined Alterledger on 31st July 2017. Ian has a wealth of experience in practice and industry. Tim and Ian worked together for a number of years as management accountants for a leading Scottish charity. We welcome Ian to Alterledger and look forward to introducing him to our clients.

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Advocate's wig on tin with library in background

VAT Flat Rate Scheme for Advocates

18 March 2017

The VAT Flat Rate scheme for advocates is changing along with all other Limited Cost Traders on 1st April 2017.  The scheme was introduced with the intention of simplifying VAT.  It was never intended to be a tax allowance or a way of saving VAT.  The assumption from HMRC was that the scheme would be broadly revenue neutral.

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Sole Director Companies and Auto Enrolment

18 March 2017

A company, or individual without employees is not required to have an Automatic Enrolment Pension Scheme.  Where a company has no-one on payroll and no workers it is normally clear that Auto Enrolment doesn’t apply.  The situation is less obvious with sole director companies and auto enrolment.  If you are the sole director of your company and have no staff or workers, the company does not have automatic enrolment duties

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National Insurance for Company Directors

5 February 2017

Most employees will pay Class 1 National Insurance each pay day.  The weekly threshold is £157 a week with the monthly threshold being £680.  If an employee earns above these amounts, they will start paying National Insurance above the threshold at 12%.  National Insurance for Company Directors can be worked out differently.

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Accounting for Musicians Glasgow 2017 @scottishmusic

26 November 2017

Members of the Musicians Union are invited to a free seminar in Glasgow on 5th December 2017.  See below for booking form on Eventbrite.

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How to register with HMRC as Self-Employed

3 January 2017

The first task in working out if you need to register with HMRC is to assess whether you are self-employed. 

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Accounting for Musicians Workshop Belfast @OhYeahCentre

5 December 2016

Members of the Musicians Union are invited to a free seminar in Belfast on 8th December 2016.  See below for booking form on Eventbrite.

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Scottish Music Centre

Accounting for Musicians Glasgow 2016 @scottishmusic

5 December 2016

Members of the Musicians Union are invited to a free seminar in Glasgow on 6th December 2016.  See below for booking form on Eventbrite.

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Alterledger COVID-19 page

Alterledger shortlisted for International Award

2 December 2016

Alterledger is delighted to be shortlisted for the @aandbscotland International Award in partnership with @waspsstudios.

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Scott Fox shortlisted for Graduate Employee of the Year

Alterledger’s Scott Fox is shortlisted for Glasgow Graduate Employee of the Year

29 November 2016

We are excited to announce that Scott Fox has been shortlisted for the Glasgow Guarantee Graduate Employee of the Year.  Alterledger has been invited to the Glasgow Guarantee Celebration Event on 30th November when the winner will be announced.  

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Money collected by Digital Tax Accounts

Flat Rate Scheme Reverse Charge VAT

30 September 2016

If a trader on the flat rate scheme for VAT purchases services from outside the UK, the business needs to account for Flat Rate Scheme Reverse Charge VAT according to Directive 2006/112/EC. Small businesses on the Flat Rate Scheme for VAT do not usually account for VAT on purchases.

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PAYE refund – how to get one

25 September 2016

The normal process for reclaiming overpaid PAYE to HMRC is to deduct the amount HMRC owes you from your next regular payment.  For this reason HMRC does not normally process an automatic PAYE refund.

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HMRC telephone scam

7 September 2016

There are two new scams that you need to be aware of.  Callers are leaving a phone message or posing as an HMRC investigator.  If you are on the receiving end of an HMRC telephone scam you can report it on 0300 1232040 or on the Action Fraud Website.

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Firstport Start Up and Fine Tune Your Social Enterprise

Start Up and Fine Tune Your Social Enterprise

6 November 2016

If you are thinking of starting up a social enterprise or need advice on running an existing business, come along to the Firstport event in Glasgow on Friday 11th November. A series of free workshops have been organised to help you Start Up and Fine Tune your Social Enterprise.

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HMRC interest rate change can save you money

24 August 2016

Following the Bank of England’s cut in its base rate from 0.5% to 0.25% on 4th August the HMRC interest rate has changed too.

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Dusseldorf Exchange Artist Klara Paterok comes to Glasgow

21 August 2016

The Anna Lobner Glasgow / Dusseldorf Exchange provides a valuable opportunity for artists to have the space and time to develop their practice in a new environment.  The programme started 13 years ago in memory of the German artist Anna Lobner.

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Tax on bank rewards and cashback

28 July 2016

Some high street banks have been offering rewards to their customers.  A common question is whether or not you have to pay tax on bank rewards.  Rewards are typically paid subject to criteria such as paying in a minimum amount each month and setting up direct debit instructions.

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HMRC new bank account

20 June 2016

Most people will pay their tax electronically either through their payroll, direct debit or by bank transfer.  Tax payments made from overseas now go to the HMRC new bank details.

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RTI Late Reporting Codes

19 June 2016

All UK employers are required to report wage payments on or before wages are paid, under the system known as Real Time Information (RTI).  Under limited circumstances HMRC will accept late payroll information.  To avoid a late reporting penalty you will need to use one of the 7 remaining RTI late reporting codes.

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Employment Allowance – how to get it

9 May 2016

The employment allowance enables most employers to claim a £3,000 deduction against National Insurance Contributions.

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Marriage Allowance update April 2016

17 April 2016

The Marriage Allowance is a tax break for couples where one partner doesn’t use all their tax free allowance.  For the 2016-17 tax year, which runs from 6th April 2016 to 5th April 2017 the tax free allowance is £11,000.

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Fine Tune Your Social Enterprise

24 February 2016

If you are thinking of starting up a social enterprise or need advice on running an existing business, come along to the Firstport event in Paisley on Friday 26th February.

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Get your discount 2016 tax return

7 February 2016

Everyone should have filed their 2015 tax return by 31st January 2016.  For most people this means a sigh of relief and not thinking about it until again until next January.  There is nothing to stop you filing your tax return in April or May if you have all the information you need.

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Accounting for Musicians

29 November 2015

Members of the Musicians Union are invited to a free seminar in Glasgow on 3rd December 2015.  See below for booking forms on Eventbrite.

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SRIT – the Scottish Rate of Income Tax

29 November 2015

From 5th April 2016 a new Scottish Rate of Income Tax (SRIT) will come into force in Scotland.  Although is it currently anticipated that taxpayers in Scotland and the rest of the UK will pay the same rate of tax next year, it is likely that the regions will diverge in coming years as more power is devolved to Scotland.

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Money collected by Digital Tax Accounts

Digital Tax Accounts – the end of tax returns?

26 November 2015

The Spending Review and Autumn Statement 2015 from Chancellor George Osborne confirms that the government is committed to Digital Tax Accounts.  The following extract is from the transcript of the speech delivered on 25th November 2015: “We’re going to build one of the most digitally advanced tax administrations in the world.  So that every individual and every small business will have their own digital tax account by the end of the decade, in order to manage their tax online.”

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Not the new childcare voucher sheme

5 November 2015

A new government-backed tax-free childcare scheme was set to go live in the autumn of 2015 but so far it has not materialised.  What has happened and is this new scheme still going ahead or not?

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Alterledger goes international

11 October 2015

We’re in Wales for the next few days We will be visiting clients in Cardiff over the next couple of days.  No time for the rugby, but spotted this crashing through Cardiff Castle. Creative Industries in Cardiff Cardiff is the home of BBC Wales, BBC National Orchestra of Wales, Welsh National Opera and of course […]

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Legal House

8 October 2015

Legal House – a new home for Alterledger Alterledger has grown significantly in the last few months.  We specialise in accounting and business advice for the creative industries and legal professionals.  Legal House is the ideal location as it is just across the river from Glasgow’s dynamic Merchant City, mooted as Europe’s leading cultural quarter.  Legal House […]

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Bring It All Home for musicians

9 September 2015

Managing my money As part of the Bring It All Home series of events in Paisley,  Tim Alter of Alterledger will be presenting a free session sharing tips and advice on maximising your earnings and keeping up to date with your accounts. Bring It All Home Bring It All Home is three day spectacular for artists, […]

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