by Gary Woosey | May 21, 2024 | Blog, Employment, SME, SMEs, Tax
When your business takes on a new employee, we know that you’re eager to get them settled into their role – but not before you’ve completed the right checks and set them up in your payroll system! If you ask for employment and income history from new starters, this...
by Gary Woosey | May 14, 2024 | Blog, Property, Property News, Tax
If you’ve invested in a property to let and furnished it, you will be liable to pay tax on the income you receive from letting the property out. However, you may be able to claim some allowable tax reliefs and deductions. The level and type of relief will depend on...
by Gary Woosey | May 7, 2024 | Blog, HMRC, Scams, SMEs, VAT
HM Revenue & Customs (HMRC) has issued a warning to businesses over fraudulent attempts to access VAT repayments via postal form VAT484. What’s happening? The form, used by business owners to change VAT registration details with HMRC if unable to do so online, has...
by Gary Woosey | Apr 30, 2024 | Blog, HMRC, SME, SMEs, Tax
If your business has a turnover of £90,000 or more and sells products or services subject to VAT, then you must register to pay it and file a return to HM Revenue & Customs (HMRC) – at least once every three months. Your VAT return is a critical component of...
by Gary Woosey | Apr 23, 2024 | Blog, Finance, HMRC, SME, SMEs
If you choose to offer certain benefits to your employees, then you may incur additional Class 1 National Insurance (NI) liabilities which must be reported to HM Revenue & Customs (HMRC). This applies to benefits known as ‘benefits in kind’ (BIKs), as they are...
by Gary Woosey | Apr 16, 2024 | Blog, Finance, Payroll, Tax
With the new tax year underway, it’s time to review your payroll to ensure that it reflects the latest changes and updates to legislation around pay, holiday and tax. The new financial year is a busy time for employers and business owners, so we’re here with the most...
