Automatic Enrolement is a system that requires all UK employers to provide a workplace pension scheme to all of their employees. If you are an employer it is likely that you have received a letter from the Pension Regulator about it. Unfortunately, AE can be a complicated system that you are advised to begin preparing for…
Import VAT is the tax you pay on all goods purchased from any country outside the UK. When running a business you may not want to limit yourself to just having customers in the UK, or maybe another country can provide services that work better for you. It is normal for a business to do…
With a new government, expecting a shake-up in the country’s finances is only natural. This means changes scheduled to how taxes work and potentially significant changes to your business. This blog will review the Autumn budget 2024, its tax implications, and how they may affect you. Capital Gains The changes to capital gains were immediate….
In addition to income tax, individuals have another amount to pay on earnings known as National Insurance Contributions (NICs). NICs are similar to tax except that paying them allow you to qualify for certain benefits. Which benefits are linked to National Insurance Contributions? NICs mainly cover the state pension, as well as additional and new…
We have previously covered employee entitlement regarding holidays and illness. However, there is another form of centrally important employee entitlement we have yet to cover; Statutory Maternity Pay and Leave. Statutory Maternity Leave When you have a baby you are entitled to take maternity pay and leave. The time-off work is known as Statutory Maternity…
Are you struggling to understand how to work out Holiday pay entitlement for your employees – this post will clearly explain everything you need to consider.
In addition to the traditional accounting method for keeping records, there is the Simplified Expenses Method. This can be used by Self-employed businesses and sole traders. How do simplified expenses work? The simplified expenses method works by using flat rates to calculate a number of expenses instead of recording the actual expenses. Which Expenses Can…