Smarter accounting
24 March 2022, Advocates, Artists, Barristers, Companies, Creative Industries, Employer, Musicians, Sole Traders
The Spring Statement 2022 confirmed increases to National Insurance from the tax year starting 6th April 2022. The threshold for paying National Insurance increases to £12,570 from July, but this doesn’t affect the additional tax on dividends. The difference in the payment date of your dividends by just one day could mean that you pay […]
18 November 2021, Advocates, Artists, Barristers, Companies, Creative Industries, Employer, Musicians, Sole Traders
The budget confirmed a few increases to tax which are likely to stoke inflation in the form of the Health and Social Care Levy. The Finance Bill is currently passing through the legislative process to introduce tax increases for most people. How does the budget affect my business? The figure of 1.25% crops up in […]
26 January 2020, Companies, Creative Industries, Employer, General, Musicians
Van benefit in kind tax charge Driving a van as your company vehicle has tax advantages over a car. The tax charge is generally low compared with a car, and can even be zero in circumstances where a car would be taxable. What conditions must you satisfy to eliminate a van benefit in kind tax […]
3 December 2019, Advocates, Charities, Companies, Creative Industries, Employer, General, Sole Traders
You can give gifts to your staff and customers at any time of the year. Learn how to avoid the pitfalls of paying tax and VAT on your generosity.
24 August 2016, Advocates, Artists, Barristers, Charities, Companies, Creative Industries, Employer, Musicians, Sole Traders
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.
20 June 2016, Advocates, Artists, Barristers, Charities, Companies, Creative Industries, Employer, Musicians, Sole Traders
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.
5 February 2017, Charities, Companies, Creative Industries, Employer, Musicians
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.
5 November 2015, Advocates, Artists, Barristers, Charities, Companies, Employer, Musicians, Sole Traders
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?
26 May 2015, Companies, Employer
The new tax year started on 6 April and with it came a rise in personal tax-free allowances and National Insurance (NI) limits. How do these and other factors affect the level of company directors salary? View image | gettyimages.com Company Directors salary If you’re a major shareholder of a private company it’s usually a […]
5 May 2015, Advocates, Artists, Barristers, Charities, Companies, Employer, Musicians, Sole Traders
As one door opens another closes A new tax-free childcare voucher scheme will start in Autumn 2015. When this happens the current scheme for employees will close to new entrants, but still remain in place for existing employees. If you are an employee, you will need to think about signing up now if the existing […]
18 March 2015, Auto Enrolment, Charities, Companies, Employer, Sole Traders
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 […]
25 February 2015, Advocates, Musicians, Sole Traders
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 […]
13 December 2014, Advocates, Musicians, Sole Traders
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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