ACA Trainee Required for Accountants in Leeds We are looking to recruit an ACA Trainee Accountant to join our office in Leeds in September 2017 (or earlier by agreement). What to expect As a trainee accountant, you will be given an insight in to a wide range of areas including financial and management accounts preparation, audit work(including Solicitors Accounts Rules Audits […]
There have been unprecedented number of tax changes affecting the contractor sector recently. Below we have considered some of the changes due to affect the contractor sector this year. IR35 and Public Sector Contractors From April, most contractors working with the public sector are likely to be caught under the new IR35 rules. This means […]
In his first Autumn Statement as Chancellor, Philip Hammond, announced an introduction of a new 16.5% flat rate of VAT for businesses which have a very low cost base. These businesses will be known as a ‘limited cost trader’. From 1 April 2017, new and existing users of the Flat Rate Scheme will need to determine whether […]
The tax year runs from 6 April to 5 April to following year. You will need to complete a Self Assessment tax return if, in the last tax year any of the following applied to you: You were self-employed; You received more than £2,500 in untaxed income, for example from renting out a property or […]
Does your business have employees? Are you paying them enough? Not knowing the difference between the Living Wage, the National Living Wage and the National Minimum Wage could result in large penalties for failing to pay employees correctly. To help clarify, here is a summary of the three main terms relating to wages: National […]
HMRC defines a director’s loan as when you (or other close family members) get money from your company that isn’t: A salary, dividend or expense related repayment Money you’ve previously paid into or loaned the company A director’s loan account is a record of any money you borrow or pay into the company. […]
The deadline for submitting your self-assessment paper tax return for the 2015/16 tax year is 31 October 2016. You need to complete form SA100, with details of any of the following sources of income: Income from self-employment Employment income Dividends Income/expenses from rental property Gains/losses made from selling assets. There are also additional sections for […]
Shared parental leave was implemented just over a year ago, but new figures show a conflicting picture. Depending on what statistics you look at take-up has been quoted at anything between 1% and 30%. One thing that is clear, is that there is still a lack of knowledge, both from the employer and the employees […]
When you need to set up a PAYE scheme may seem confusing, but here are three common scenarios where employers need to ensure they are complying with PAYE regulations: As an employer you do not need a PAYE scheme if you pay yourself or an employee under the Lower Earnings Limit (LEL) (for Tax Year […]
Are you married or in a civil partnership? Is one of you a non-taxpayer? Is the other partner a basic rate tax payer? If the answer to all of these questions is yes, you may be entitled to claim the marriage tax allowance. The marriage tax allowance allows the non-tax paying partner to transfer […]
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