Now that the Tax Return season has ended you may receive an email claiming you are due a tax refund. Be aware that it’s a scam to steal your personal details. Criminals are targeting the millions of people who file Self-Assessment Tax Returns online. The fraudsters are sending fake emails purporting to be from HMRC… Continue reading Tax Refund Scams – What to look out for
Restaurant owners are now banned from deducting money from tips earned by waiters and other staff. Tips can be paid to employees using the following methods: Cash received direct from a customer This is an allowable method of receiving tips, however the person receiving the tip is responsible for declaring and paying tax on the… Continue reading Law changes on tips for waiters
Changes were announced to capital allowances in the Autumn Budget. These include an increase in the Annual Investment Allowance (AIA) available. Make sure your business does not fall foul of the transitional rules which apply. Increased AIA from 1 January 2019 You will no doubt be aware that the maximum AIA has been set at… Continue reading Hot Topic! Maximise your capital allowances
The following Tax Events are due on 19th February 2019: Business Tax Events PAYE, Student loan and CIS deductions are due for the month to 5th February 2019 This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. Employers are… Continue reading Tax Reminder 19th February 2019
When someone makes a donation, you might want to give the donor something in return (an item or service) to say thank you. This is known as a ‘benefit’. Literature that tells donors what your charity does eg a newsletter, or a simple plaque to thank a donor, doesn’t count as a benefit. The value… Continue reading Gift Aid – The benefit rule
What is a uniform? Specialised clothing that is recognisable as a uniform or identifies you as having a particular occupation, it could be a branded T-shirt or a full on police/nurse uniformYou are required to wear it at work and clean and repair it yourself - however if your employer provides this facility you cannot… Continue reading Do you wear a uniform or protective clothing for work? If so you could get some tax back from HMRC
Having quality management accounts can be beneficial to your business as they can help you to grow by making it more efficient and hopefully more profitable. Management accounts are a set of detailed accounts prepared to illustrate the company’s performance. The goals of the accounts are to provide key financial information which will help with… Continue reading Would your business benefit from monthly or quarterly management accounts?