To download our tax cards for 2019/20 please follow this link – BWM Tax cards 19/20
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Tax Cards 19/20
Comments Off on New Payslip Rules From 6 April 2019
New Payslip Rules From 6 April 2019
From the 6th April 2019 there will be new rules which will change how you issue payslips to workers. Previously, only your staff classed as employees needed to get written itemised payslips. You didn’t need to itemise payslips for any staff classed as workers. The difference between employees and workers An employee is someone who … Continued
Comments Off on Partners Hit By Avoidable ISA Tax Charge
Partners Hit By Avoidable ISA Tax Charge
An unnecessary tax charge on inherited ISAs could be resulting in thousands of bereaved partners missing out on a tax break, according to research. Introduced in 2015, the additional permitted subscription is available to the spouse or civil partner of an ISA holder who has died. The subscription provides an extra ISA allowance to the … Continued
Comments Off on Auto-enrolment Fines Rise 146%
Auto-enrolment Fines Rise 146%
Fines issued to employers that fail to comply with their auto-enrolment responsibilities have more than doubled over the last two years, a report from the Pensions Regulator shows. In 2017/18, there were 36,137 fines issued to employers for not complying with the requirements of auto-enrolment – up from 14,707 such penalties in 2016/17. The Pensions … Continued
Comments Off on ‘Our Liverpool’ Grant Programme 2019/21
‘Our Liverpool’ Grant Programme 2019/21
Liverpool City Council have announced that the opening date of the new two-year Our Liverpool Grant Programme 2019/21 is Monday 4th February with a closing date of midday Monday 4th March. Once the Grant is ‘live’, the Application Pack and Guidance document will be available to download via the Liverpool City Council webpage link: https://liverpool.gov.uk/business/finance-funding-and-grants/community-funding-and-grants/ … Continued
Comments Off on Accounting Changes Affecting Gift Aid Payments From Charity Trading Subsidiaries
Accounting Changes Affecting Gift Aid Payments From Charity Trading Subsidiaries
The Financial Reporting Council (FRC) has issued FRS 102 amendments which will be mandatory for all accounting periods commencing on or after 1 January 2019 therefore affecting charities with year-end of 31 December 2019 onwards. As this is a change in accounting standard, this is also likely to require a prior year adjustment in the … Continued
Comments Off on Making Tax Digital for VAT: Partnerships and Flat Rate Scheme Can Join Pilot
Making Tax Digital for VAT: Partnerships and Flat Rate Scheme Can Join Pilot
Partnerships and those on the flat rate scheme for small businesses can now sign up to join the Making Tax Digital for VAT pilot. The move means that sole traders, partnerships or those that currently submit the VAT Return for a limited company are now in scope for the pilot, provided they use a standard … Continued
Comments Off on Making Tax Digital for VAT: Businesses With Complex Requirements
Making Tax Digital for VAT: Businesses With Complex Requirements
HMRC has also begun to write to businesses affected by the deferment announced for ‘complex businesses’ back in October 2018. The correspondence confirmed that around 3.5% of VAT-registered entities will brought into the MTD for VAT regime for periods beginning on and after 1 October 2019 (instead of for VAT periods beginning from 1 April … Continued
Comments Off on Businesses Getting to Grips with Apprenticeship Levy
Businesses Getting to Grips with Apprenticeship Levy
Businesses are finally beginning to understand the apprenticeship levy, after previously voicing serious concerns over its complexity and lack of flexibility. The apprenticeship levy took effect on 6 April 2017 and means businesses with an annual pay bill of more than £3 million must pay the levy towards apprenticeship funding. It is charged at 0.5% … Continued
Comments Off on R&D Investment Grows to £23.7bn in 2016/17
R&D Investment Grows to £23.7bn in 2016/17
Businesses in the UK spent £23.7 billion on research and development (R&D) in 2017, according to the latest data from the Office for National Statistics (ONS). The ONS found that year-on-year expenditure on R&D increased by £1.1bn – or 4.9% – compared to statistics for 2016. Firms in the pharmaceutical sector continued to have the … Continued
