According to the Department for Business the UK private business sector is at record levels with 5.5 million of us, yes, we are just like you a UK small business, actually I really hate that description, ‘small’, we are, like many of you a family owned business!! In the last six years privately owned business […]
With effect from 1 October 2016 the following national minimum wage and national living wage hourly rates take effect: Age From 1 October 2016 Previous Rate National Living Wage £7.20 £7.20 Main rate for workers aged 21-24 £6.95 £6.70 Rate for 18-21 year olds £5.55 £5.30 Rate for 16-17 year olds £4.00 £3.87 Apprentice rates […]
HMRC has issued its new Advisory Fuel Rates that take effect from 1 September 2016. As fuel prices rise HMRC has now revised some of the rates upwards. For the latest HMRC Advisory Fuel Rates please click here.
There is currently a telephone scam where a recorded message is left, allegedly from HMRC, stating that HMRC are bringing a lawsuit against the individual and is going to sue them. The recipient is asked to phone 0161 8508494 and press “1” to speak to the officer dealing with the case. This scam is becoming […]
From 6 April 2016 Dividends just got a whole lot more complicated… Historically dividends have been paid out with a tax credit attached, which meant, as long as you stayed within the basic rate of tax you had no further personal tax bills, well I guess this current government thought the family run business owners […]
From 6 April 2016 if you are the Sole Director with no staff you can no longer claim the Employment Allowance, now worth £3,000, this means there is no need to pay yourself a salary at a level that incurs a National Insurance cost. So we are back to the easy salary decisions we used […]
Today, 16 March 2016, the Chancellor, George Osborne gave a Budget Report that he described as putting the next generation first. Many of the measures mentioned today, as we have become used to, don’t actually take effect immediately, many of the measures mentioned in previous budgets are the ones we all face from April 2016. […]
From 6 April 2016 the Employment Allowance is to increase from £2,000 to £3,000. There will also be no Employers’ NIC payable in respect of apprentices under the age of 25. It is not all good news though, the employment allowance will no longer be available for companies where the director is the sole employee.