We’re Sponsoring The Women in Business Awards 2016

Here at Torr Waterfield we are delighted to sponsor the Leicestershire Women in Business Awards for a second year in 2016. This year we are sponsoring the Entrepreneur of the year award.  The Awards, which are run by the Leicester Mercury in partnership with the University of Leicester, highlight the contribution made by female professionals… Continue reading We’re Sponsoring The Women in Business Awards 2016

Extending your PAYE payment deadline the easy way

We all know it is very important to pay your taxes to HMRC by their deadlines to avoid any late payment interest and penalties. The statutory deadline for paying Employers PAYE liability is the 22nd of the month – or the 19th if paying by cheque through the post. Different ways to pay your PAYE… Continue reading Extending your PAYE payment deadline the easy way

Charity Of The Year

Each year at Torr Waterfield we choose a charity, local or national, to represent and raise money for.  Previous charities we have supported are The Epilepsy Society, Bamboozle Theatre Company, Keep The Beat and many more. This year we have chosen L.A.M.P. (Leicestershire Action for Mental Health Projects). LAMP works to support those in mental… Continue reading Charity Of The Year

Keep up to date and download our free Tax App

Here at Torrwaterfield we are constantly updating our systems and software to keep up to date with ever changing technology. Part of this included creating a Taxapp. The Torrwaterfield Taxapp is free to download and available on both IOS devices (App store) and Android devices (Google play).   The app includes the following features: Key Tax… Continue reading Keep up to date and download our free Tax App

People with significant control (PSC) – The New PSC Register

From 6 April 2016, Limited Companies, LLPs (Limited Liability Partnerships) and SEs (Societas Europea) are required to hold a register of people with significant control (‘PSC register’).  This is part of the government’s commitment to increase transparency in ownership and control of companies. A PSC is anyone in a company, LLP or SE who meets… Continue reading People with significant control (PSC) – The New PSC Register

Automatic Enrolment – What should I do if I’m not an employer?

Following on from Becky’s blog back In November: ‘Help – I’ve received a letter from the Pension Regulator’ I’m sure there are some of you wondering what you should do if you do not employ anybody, and consequently don’t have anybody on your payroll, or are a director only company. Automatic enrolment duties do not… Continue reading Automatic Enrolment – What should I do if I’m not an employer?

When do I need to register for VAT?

You must register for VAT when your VAT taxable turnover exceeds the ‘VAT registration threshold’ of £83,000. This is calculated on a rolling 12-month basis and is not solely based on your year-end accounts turnover ... so please be aware of this! What happens if I don’t register in time? If you forget to register… Continue reading When do I need to register for VAT?

The importance of keeping your company statutory books up to date.

What are company statutory books? Statutory books are records about your limited company which are legally required to be kept and safely stored. The relevant documents are usually kept in a bound book or a ring binder. Alternatively, they can also be held in electronic format providing that you are readily able to obtain hard… Continue reading The importance of keeping your company statutory books up to date.

Voluntary VAT Registration

It is not compulsory to register for VAT until your annual turnover/sales reach £83,000. However, any business can register for VAT at any time. So why would anyone want to register for VAT and charge their customers an extra 20%? Do you sell to the general public? If so, registering for VAT is not for… Continue reading Voluntary VAT Registration

Sole trade vs. Ltd Company – What’s right for you?

Once you have decided to be your own boss, you then need to choose the best structure for your business. When considering whether to trade individually or through a company, there are many factors to take into account, be it tax implications, legal obligations or the amount of paper work that needs to be filed… Continue reading Sole trade vs. Ltd Company – What’s right for you?