Currently, HM Revenue and Customs can collect tax debts of up to £3,000 by adjusting your Pay As You Earn (PAYE) tax code. HMRC refers to this as ‘coding out’. The effect of this is to recover the debt from your income, by increasing the amount deducted from your income during the tax year. This … Continued
The essential trustee is the Charity Commission’s guide to charity trustees’ responsibilities. The commission wants to make this guide as clear as possible and easier for trustees to use, to support them in complying with their duties. The commission wants your views on a new updated draft. The new draft follows recent commission guidance on … Continued
This review was carried out by the Institute of Chartered Accountants in England and Wales (ICAEW) on behalf of the Charity Commission. There were 26 ICAEW members with experience in the sector matched to charities to carry out an expert review. Peter Taaffe, Managing Partner of BWMacfarlane, was one of the reviewers participating in the … Continued
Details of changes to tax rules that will allow over 55s to access their defined contribution pension pots with more flexibility from April 2015, have been published in the Taxation of Pensions Bill. Under current rules, savers can take 25% of their pot as a tax-free lump sum and put the remaining 75% in a … Continued
The 1.2% CPI rate of inflation recorded in September 2014 is the lowest since October 2009. The Office for National Statistics said falling transport costs and food prices were largely responsible for the slowdown. David Kern, chief economist at the British Chambers of Commerce, said: “These figures confirm that inflationary pressures in the economy remain … Continued
The cost of doing business has continued to rise in 2014 despite the falling rate of inflation, research from the Forum of Private Business (FPB) has found. The survey reveals that prices for micro, small and medium-sized businesses have risen 4.7% in 2014. However, the Consumer Price Index (CPI) rate of inflation has fallen from … Continued
Most companies pay corporation tax 9 months after the end of their accounting period. However, companies with profits in excess of £1,500,000 a year are required to pay corporation tax on a quarterly basis. The first 25% is due 6 months and 14 days into the period, with subsequent 25% payments due every 3 months … Continued
Many people die intestate because they think their estate will automatically pass to their spouse free of inheritance tax (IHT). This is not necessarily correct. Moreover, having a Will in place makes it easier to get a grant of probate and avoids the Statutory Intestacy Rules governing how the estate is distributed. From 1 October … Continued
For the fifth year running, we are celebrating Trustees’ Week 2014 from the 10-16 November. The nationwide campaign raises awareness of trusteeship, celebrates the great work trustees do and encourages people from all walks of life to get involved and make a difference. We also run a free Trustee Match service were we help charities … Continued
Workers have won a ground breaking case at the Employment Appeal Tribunal to include overtime in holiday pay. This means all people working voluntary overtime could claim for additional holiday pay. Currently, only basic pay counts when calculating holiday pay. The details of the ruling, particularly on whether claims can be backdated, have yet to … Continued
🎅🏻BWM Christmas opening hours🎅🏻
🎄The BWM office will be closed over the Christmas period from close of business on Friday 22 December 2023 at 12pm until 9am on Tuesday 2 January 2024. 🎄
The Easter Bunny has come early!🐣Chocolate inspired pay day treat for all our lovely staff 🍫 🐇
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Phone: 0151 236 1494
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