Our Autumn Statement summary 2016

November 24th, 2016
Comments Off

Please find below our summary of the Autumn Statement. The main points to note are:

  • From 1 April 2017, companies on the Flat Rate Scheme for VAT will have to check if they are a “limited cost trader”. If they are, their flat rate will be 16.5% which is very high and could lead to no savings at all for being on the VAT flat rate scheme. A limited cost trader is effectively a business with very few costs incurred in running the business (excluding subsistence and vehicle costs). This is another attack on consultancy type businesses where a labour-only service is provided.
  • This is the last Autumn Statement. In future there will be one Budget taking place in Autumn instead, but in 2017, there will be the Spring Budget and then the Autumn Budget.
Autumn Statement 2016

 

Please contact us if you have any queries.

 

Blog, News

Budget March 2016

March 17th, 2016
Comments Off

Our Budget brief is now available on our resources page of our website and also below. Please don’t hesitate to contact us should you have any queries.

Blog, News

Our Autumn Statement summary 2015

November 26th, 2015
Comments Off

Please find below our summary of the Autumn Statement. The main points to note are:

  • No changes to current travel & subsistence for contractors where IR35 doesn’t apply
  • Employment allowance for NIC to increase to £3k from 6 April 2016, but sting in the tail that it will no longer be available to companies where the director is the sole employee, or where the director(s) and family members are the only employees
  • Falling corporation tax rates to 19% then 18% from 1 April 2017
  • Another blow to buy to let landlords is the introduction of a new payment regime for capital gains on the disposal of a property where principal private residence relies is not available, being 30 days after the date of disposal
Autumn Statement 2015

 

Please contact us if you have any queries.

 

Blog, News

Second Budget 8th July 2015

July 9th, 2015
Comments Off

Our Budget brief is now available on our resources page of our website and also below. Please don’t hesitate to contact us should you have any queries.

The shocker in this is the change in how dividends will be taxed as from 6 April 2016. This will affect the optimum salary/dividend position for limited companies and will also affect the point at which it is better to incorporate a sole trader business. We will be advising clients once the numbers have been crunched!

The good news is that the Employment Allowance for employer’s NIC is increasing from £2,000 to £3,000 a year from April 2016.

Blog, News

New National Insurance contribution letters

April 2nd, 2015
Comments Off

Please be aware that if you do your own payroll, you may need to change an employee’s NI contribution letter, as well as changing everyone’s PAYE code as necessary as from 6 April 2015. There is a change to employer’s National Insurance on employees aged under 21.

https://www.gov.uk/government/publications/employer-national-insurance-contributions-for-under-21s/abolition-of-employer-national-insurance-contributions-for-under-21s-employer-guide

The most common NI contribution letter for an employee aged under 21 will be M, but please read the guidance above.

Blog, News

Budget 2015

March 19th, 2015
Comments Off

Our Budget brief is now available on our resources page of our website and also below. Please don’t hesitate to contact us should you have any queries.

Blog, News

We now support QuickBooks Online!

January 23rd, 2015
Comments Off

We are pleased to announce that we are now up and running with QuickBooks Online Accounting. We can set up your QuickBooks Online company file and subscription and get you up and running with the software, including migrating your data if applicable.

The benefits of Online are:

  • No more buying software updates – you will always be running the latest version
  • Better collaboration between us, I can see real time what’s happening and help you with queries over the phone or by e-mail
  • You never have to send me your QuickBooks file by memory stick or e-mail again!
  • You can install an app and have your software with you wherever you go (both Android and iPhone supported)
  • QB Online includes unlimited QuickBooks support, no more having to pay QuickBooks for a support plan
  • Your data lives in the cloud, so no more back ups and potential loss of data

There is a special pricing plan in place at the moment until 19 April 2015, meaning that you will pay £13.30 plus VAT a month for the first 6 months. The price then goes up to £19.00 plus VAT a month thereafter.

Not sure if QuickBooks Online will work for you? Give us a call!

Annual accounts, Blog, Bookkeeping, Business startups, Management accounts, News

Our Autumn Statement 2014 summary

December 4th, 2014
Comments Off

Please find below our summary of the Autumn Statement. Please feel free to contact us if you have any queries.

 

Fast Autumn statement summary 2014

Blog, News

QuickBooks 2015 Pro edition for sale!

October 31st, 2014
Comments Off

QB 2015I have one brand new copy of QuickBooks Pro 2015 for sale for £132 including VAT and postage (within the UK). Please e-mail me on [email protected] if you wish to secure it.

UPDATE: 18 November 2014 – This copy of QuickBooks Pro 2015 has now been sold to JD Moore Joinery & Store in Cumbria. Thank you for your interest.

Blog, News

Want to save 10% on our fees?

May 3rd, 2014
Comments Off

Don’t forget that if you get your information for your tax return to us by the end of July, we will knock 10% off your bill as an early bird discount! We know the tax return doesn’t have to be filed until January, but why wait?! Save money and get the stress out of the way!

Blog, News