• Posted March 21, 2016

What is the Confirmation Statement?

How is this different to the annual return, and what does it mean to my business? From June 2016 companies will no longer have to submit an annual return to Companies House, instead they will submit a confirmation statement. Unlike the annual return, companies will be able to submit a confirmation statement any time they […]

  • Posted March 11, 2016

Taxation of Dividends

In the summer Budget, the chancellor George Osborne announced major changes to the current tax legislation which applies to dividend income. From 6 April 2016 there are 4 main changes coming into effect: The 10% dividend tax credit will be abolished. Individuals will have a £5,000 a year tax-free dividend tax allowance. This allowance will […]

  • Posted March 8, 2016

Preparing for the National Living Wage

On 1 April 2016 the new National Living Wage of £7.20 an hour for workers aged 25 and over will take effect. There are several steps employers must take to ensure that they comply with the new rates, including: Finding out which staff are eligible for the new rate Updating their payroll before 1 April 2016 […]

  • Posted February 25, 2016

HMRC’s clampdown on undeclared income

In July 2015 HMRC launched a campaign to clampdown on individuals and businesses who let out rooms in their homes on the internet or sell goods on sites such as Amazon, ebay or etsy without paying tax. Many people who use these sites are unaware that they should be completing a self-assessment tax return for […]

  • Posted February 1, 2016

Sage Shortcuts

At Whitesides, we have been using Sage for over 20 years. We have trained and supported hundreds of businesses on how to use Sage and are often asked about shortcuts. Using shortcuts on Sage can save a significant amount of time when entering transactions, and all without the need to move the mouse. Here are […]

  • Posted January 12, 2016

Leaving it to the Last Minute?

Last year 979,526 tax returns were filed on the last two days of filing (30 and 31 January), that is over 10% of the total number of returns submitted online. So why do people leave it right to the last minute? It doesn’t seem logical, how many news stories do you read of HMRC’s portal […]

  • Posted December 18, 2015

What is salary sacrifice and would it benefit my business?

  A salary sacrifice arrangement is when an employer and an employee agree to reduce the employee’s salary in return for certain benefits. There are financial advantages for both the employer and the employee if a salary sacrifice arrangement is agreed as the employee’s remuneration shifts from cash (where tax and National Insurance (“NI”) is due) to […]

  • Posted December 11, 2015

Is Cloud Accounting Right for My Business?

More and more companies are using cloud based software to manage their finances. But is it right for your business? The main concern with using cloud based software is, is it secure? You are posting significant amounts of sensitive data to a server that is owned, maintained and secured by someone else. But providing your […]

  • Posted December 4, 2015

Parties for Employees

It’s December, which means one thing – Christmas party season! We thought it would be a good idea to remind our readers of the tax implications of hosting a staff Christmas party.  It is estimated that British businesses will spend nearly £1bn on festive events this year. Approximately 72% of businesses intend to hold a […]

  • Posted December 3, 2015

How to Register for VAT

You must register for VAT with HM Revenue and Customs (HMRC) if your business’ VATable turnover is more than £82000 per year.  If you want to, you can voluntarily register if your turnover is below this (unless everything you sell is exempt). Not sure what forms you have to fill in?  HMRC have produced this video to […]