by Gary Woosey | Jun 4, 2024 | Blog, Finance, SME, SMEs
Staff costs represent a substantial portion of your expenditure as a business owner, so it’s important that you understand what payments you have to make and how to plan for them. Many employers fail to consider statutory payments in addition to regular staff pay....
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...
by Gary Woosey | Apr 9, 2024 | Blog, Finance, SME, SMEs, Tax
In a new initiative designed to reduce paper use and unnecessary confusion, HM Revenue & Customs (HMRC) has announced a significant change to the way that taxpayers are notified of a repayment. From 8 April 2024, HMRC will no longer send out a letter notifying...
by Gary Woosey | Apr 2, 2024 | Blog, Finance, Scams, Tax
April Fool’s Day, a time of jokes and jests, may have been and gone… But it just so happens that April Fool’s Day falls just before the start of the new tax year (6 April) when numerous businesses will be targeted by tax avoidance scams, phishing attempts and...
by Gary Woosey | Mar 26, 2024 | Blog, Employment, Finance
The law surrounding redundancy for new parents is set to change from 6 April. This will offer enhanced protection from redundancy for those who are pregnant, on shared parental leave, or taking time off for adoption. If you need to make redundancies to cut costs and...
