The ‘scourge of late payment’ was specifically mentioned in the government’s Spring Statement this year. There is government consultation in the pipeline, but with 20% of small businesses running into cash flow difficulties because their bills are paid late, December 2017 saw a new service launched to help. The Small Business Commissioner (SBC) has taken …
On 29 March 2017, the government triggered Article 50, starting the formal process for the UK to leave the EU. This will happen on 29 March 2019. Brexit: a little word with big consequences and a lot of uncertainty. All change At the moment, it is estimated that there are around 12,000 EU regulations in …
‘As an employer, you provide the teabags… But you’re also responsible for providing a workplace pension… It’s the law.’ All employers now have responsibilities under the pensions auto-enrolment (AE) regime, as this reminder from the Pensions Regulator (TPR) shows. Anyone employing at least one person is classed as an employer, and must put certain staff …
In terms of tax, providing employees with a vehicle which fits within the definition of a van, rather than a car, can be very worthwhile. This is equally relevant to company directors, who are also treated as company employees. A recent tax case sheds interesting light on how cars and vans are defined for income …
A quiet revolution is afoot: it’s called Open Banking. ‘Manage, Move and Make More of Your Money,’ says the Open Banking Implementation Entity (OBIE). OBIE was set up following a report that traditional banks ‘do not have to compete hard enough for customers’ business.’ So since January 2018, customers with the UK’s largest banks have …
Running Your Business as a Company
There are special rules for tax-deductible expenses for the self-employed. To qualify for tax relief, expenses have to be incurred ‘wholly and exclusively’ for the purpose of the business. There can’t be any indication that there is dual purpose. A recent case at the tax tribunal shows how to get it wrong. So how do …
Click Here to Read the Spring 2018 Newsletter in Full. Paying Dividends Class 2 National Insurance: Not Quite the End of the Road New Rates and Bands on the Way Getting Sporty? Self Employed and Want a Mortgage? National Minimum Wage in the Social Care Sector National Minimum Wage: New Rates From 1 April 2018 …
