Making Tax Digital (MTD) is the most fundamental change to the administration of the tax system for at least 20 years. Keeping your financial records will become increasing digital and most businesses will need to use software or apps to keep business records – the days of manual record keeping will be over! The essential …
Cloud Accounting
More and more of our clients are interested in cloud-based accounting packages. Cloud-accounting is book-keeping software on the internet not on a local hard drive or server. You pay is a monthly fee for the privilege of using the software, you don’t have to download anything on your computer; you don’t need to back-up data; …
Community Interest Companies (CIC)
CICs are organisations pursuing non-political social objectives, providing community facilities or trading with a social purpose. A CIC is not a charity, and is prohibited from applying for charitable status. CICs are regulated by the CIC Regulator, based at Companies House. A CIC has a number of potential advantages over the alternative structures: Limited liability; …
Planning For The Living Wage
In the July 2015 Budget the Chancellor introduced a compulsory living wage, it will be paid to workers aged 25 and above and from April 2016 it will be set at £7.20 an hour with a target of £9 an hour by 2020. Part-time and full-time workers will be eligible for the living wage rate. …
Pension Auto Enrolment
Why is this happening To encourage more people to set aside money for retirement, the Government is introducing workplace pensions for eligible workers. Under rules introduced in October 2012, employers are required to automatically enrol all eligible staff into a workplace pension scheme from their staging date and pay a minimum contribution into the pension …
VAT & Catering Supplies
Food and Catering Food is zero rates, however, a supply of food is in the course of catering is standard-rated. Thus sandwiches, cakes etc which are normally zero-rated are standard rated if supplied in the course of catering. When deciding whether a supply is in the course of catering all factors need to be considered …