by yasiradnan94 | Mar 6, 2023 | Accounting, Advice, Business, FAQs, News
The national minimum wage (NMW) and national living wage (NLW) rates are due to rise significantly for pay periods starting on and after 1 April 2023. These increases – the largest since the NMW began – are being introduced because inflation is running at...
by yasiradnan94 | Dec 26, 2022 | Business, Tax Planning, VAT
The VAT registration threshold has already been frozen at £85,000 since April 2017 and it will now be fixed at that level until April 2026. The Chancellor made the point that the UK’s VAT registration threshold is more than twice as high as the average in OECD...
by yasiradnan94 | Dec 6, 2022 | Advice, Business, Tax Planning
Companies can currently claim super-deduction allowances set at 130% of the cost of new plant and machinery or 50% of the purchase cost of certain fixtures and fittings for buildings. These super-deductions will expire on 31 March 2023. The annual investment allowance...
by yasiradnan94 | Nov 21, 2022 | Advice, Business, Financial Planning, Tax Planning
Several investment schemes provide a basket of tax reliefs to individuals who are prepared to risk their money by subscribing for new shares in small trading companies. Two such schemes are the Enterprise Investment Scheme (EIS) and the similar Seed Enterprise...
by yasiradnan94 | Oct 26, 2022 | Accounting, Advice, Business, Tax Planning
Many employers will advance modest loans to employees to meet upfront costs which they necessarily incur to enable them to work, such as a travel season ticket or a deposit for childcare costs. Such loans can also be provided to help towards other unexpected costs...
by yasiradnan94 | Sep 12, 2022 | Advice, Business
There are now almost 10 million people who work from home and can benefit from the tax-free allowance of £6 per week (£26 per month) which their employer may choose to pay. Employers can reimburse larger amounts to home-based employees if the employees can prove that...
