Insights

NEW CHANGES TO PAYSLIPS AND PAYROLL FROM APRIL 2019

By Insights

For business owners, keeping up-to-date with changes to payslips and payroll is important. As of April 2019, new changes will mean that you will have to become well-versed in payroll legislation. There are some changes to payslips, pension contributions, increases in statutory family-related pay and statutory sickness pay. Also, adjustments to redundancy pay calculations and post-graduate loan repayments means it’s vital to understand the requirements you need to adapt to. In this article, we’ll cover:
What are the latest payslip changes from April 2019?
Pension contributions
National Minimum Wage changes
Statutory family-related pay and statutory sick pay changes
Redundancy payment calculation adjustments
Postgraduate loan repayments
Finding help with payslip and payroll changes

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TAX IMPLICATIONS FOR BUYING, OWNING AND SELLING SECOND PROPERTIES

By Insights

Buying or owning a second property in the United Kingdom has tax implications which must be considered when deciding how to manage it. These can add to the costs of a purchase or sale of the property. This article looks at the key taxes which relate to residential properties and what the implications of them are, including:
Stamp duty for a second property
Capital Gains Tax on a secondary property
Deciding on the length of investment and income streams
Considerations when utilising Buy to let
Rental income streams and Income Tax
Getting help with your second property finances

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MAKING TAX DIGITAL IS NOW LIVE: ARE YOU READY?

By Insights

For some time now Making Tax Digital (MTD) has been on the horizon. It’s the biggest change in UK tax management processes for a long time. MTD for VAT reporting became mandatory in April 2019 for the majority of VAT registered businesses, such that the details of all relevant transactions from the next VAT period commencing after 1st April must be recorded and submitted to HMRC in a digital format. In this article, we’re going to check you’re ready for MTD and can comfortably meet your first MTD VAT return deadline, including:
What does MTD for VAT mean for a business?
Are you signed up to MTD?
Are your records and software MTD compliant?
Penalties for wrong or late submissions of VAT returns
Help and assistance with MTD

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TOP TIPS TO MANAGE YOUR BUSINESS CASH FLOW

By Insights

For any business owner, recognising the difference between profits and cash flow is essential. Weak cash flow is a common problem for many small businesses that can leave them struggling to grow and succeed. Managing business cash flow can be tough, so this guide should help you to better understand just how to stay on top of it. In this article, we’ll cover some important factors such as:
What is Cash Flow?
Managing Receivables
Prioritising Payments
Financing your Business – overdrafts, loans, equity.
Getting Help with Cash Flow Management

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SPRINGTIME TAX SCAMS: WHAT TAX SCAMS SHOULD YOU BE PREPARED FOR IN 2019?

By Insights

For anyone running a business in 2019, the likelihood is that you have recently handled your 2018/19 taxes. This is a good thing and allows you to know you are fully up-to-date with your financial expectations. Sadly, at this time of year, many people fall victim to ‘Springtime tax refund scams’ – a common blight on modern business owners. These are increasingly easy to fall for, and we recommend that you read our simple guide to avoid falling foul of these scams which are harming so many. Our Springtime tax refund scams article will cover:
What are Springtime Tax Scams?
Signs of a potential Springtime Tax Refund Scam
What to do if you believe you are being scammed
Keeping yourself safe from fraud

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WHAT TO CONSIDER WHEN STARTING A BUSINESS

By Insights

For anyone looking to start their own business in the United Kingdom, there are many things to consider. While being in charge of your own business is a liberating experience, it comes with many challenges that you must be prepared for. As you set the business up you need to get to grips with a few basic skills and make some decisions on how to operate it. Some of the main points you need to address when establishing a new business include:
Creating a solid business plan
Planning the structure of your new business
Picking the correct year end for your business
Making sure you register with HMRC
Getting help with running your own business

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A GUIDE TO P11D REPORTING TO HMRC

By Insights

For any business owner, keeping on top of the numerous reporting demands made by HMRC can be tough work. One issue that might slip past you is filing your annual P11D returns. When, and how, to file your P11D forms is something that often gets neglected by many business owners. In this guide, we break down what this involves and why you need to make sure your P11Ds are completed and filed correctly. Some of the key points that we cover include:
What is a P11D?
When and how to file your P11D
What constitutes an employee benefit?
What should be included as part of a P11D return?
Getting help with your P11Ds 

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HOW TO REGISTER AS A CHARITY AND WHAT TO CONSIDER

By Insights

Charities play a key part in UK aid and are instrumental in assisting thousands of people all across Britain and further afield. Whilst there is a huge variety of charities already in existence, new charities are still being registered all the time. Although setting up a charity is a fantastic way to help others, there are still many things to consider. Some of the main points you need to address when looking to register a charity are;
What is a charity?
Is registering as a charity the right option for me?
Choosing a charity name and structure
Writing your governing document
Selecting trustees
Getting help with setting up as a charitable organisation for legal and tax advantages

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EVERYONE NEEDS A BUDGET. HOW TO SET ONE FOR YOUR BUSINESS

By Insights

For any business owner it is essential to plan and closely manage your business’ financial performance. Creating a budget is the best way to keep both your business, and its finances, on the right track. In this article, we break down the steps you need to follow to create a realistic budget for your business. Some of the key points that we cover include:
Why does my business need a budget?
The benefits of setting a budget.
How do I set a budget for my business?
How do I ensure my budget is accurate?
Why you should review your budget regularly.
Getting help with creating a budget for your business.

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HOW TO FIND A WILL WRITER AND WHAT TO CONSIDER

By Insights

Writing a will is not a topic many of us want to think about but it’s still a vital part of inheritance planning. Without a proper will, your money and possessions might not be distributed the way you’d like. Hiring a will writer can help you deal with this essential part of financial planning. This article will cover how to find a will writer and discuss points like:
Why you need a will
How will writers can help you
The best way to find a will writer
Things you need to consider when choosing a will writer
How to update your will and to keep it safe
How to get help with will writing and inheritance planning

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