The VAT Flat Rate scheme is available to businesses with turnover up to £150,000 per annum. It is advantageous to small businesses as the VAT payable to HMRC is calculated as a percentage of gross sales rather than 20% of net sales less 20% of VATable purchases. It makes calculating VAT due much more straightforward, record keeping is easier AND you are likely to pay less. Always an advantage! …
Payroll is easy isn't it? There is plenty of software out there that you can use to run your payroll which will tell you how much to pay your employees. So why do employers still get their employees' pay wrong and don't notice that it is wrong? Because, as with everything, the information you get out …
Many employers give their employees a gift at Christmas. If you are one of those generous employers have you considered whether there are any tax implications for the employee on the gift you give? …
Businesses are generally started by enthusiastic entrepreneurs who either want to create something which can grow and has value or create a work/life balance for themselves. Whichever it is there are lots of things the business owner needs to be involved with which may not have occurred to them during the excitement of starting a business. As a bookkeeper I know that finance is one of the most important things that a new business owner needs to understand. …
It is more than 3 years ago that small businesses began to have an obligation to set up an auto enrolment pension scheme for their employees. There was a lot of information available to employers at the time through the media as well as by post so there couldn't have been anyone who wasn't aware that they had a legal duty to set up a pension scheme for their employees who were eligible to join a scheme. In February 2016 I was invited to give evidence to …
