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national minumum wage

National Minimum Wage changing in April 2019

The National Minimum Wage (NMW) and National Living Wage (NLW) are changing in April 2019. They are the legal minimum wage rates that must be paid to employees. Employers are liable to be penalised for not complying with the NMW and NLW rules. There are different levels of NMW and NLW, depending on age and whether the employee is an apprentice. The rates are due to increase from […]

Self employed or contractor

Self employed or contractor the tax rules

Whether you are self employed or a contractor you may wonder just what are the tax rules applicable to each one? A person is self-employed if they run their business for themselves and take responsibility for its success or failure. Self-employed workers aren’t paid through PAYE, and they don’t have the employment rights and responsibilities of employees. Someone can be both employed and self-employed at […]

HMRC-Self-Assessmentv2 - Shrewsbury

Tax self-assessment deadline 31 January 2019

The deadline for submitting your 2017/18 self-assessment return is 31 January 2019. The deadline applies to taxpayers who need to complete a tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 National Insurance Contributions (NIC), capital gains tax and High-Income Child Benefit Charge liabilities. There is a penalty of £100 if a taxpayer’s return is not […]

pension increases 2019

Increase of automatic enrolment pension contributions April 2019

From 6 April, 2019, the minimum pension contributions you and your staff pay into your automatic enrolment workplace pension scheme will increase. This is also sometimes known as ‘phasing’. It is your responsibility to make sure these increases are implemented. Who does this apply to? All employers with staff in a pension scheme for automatic enrolment must take action to make sure at least the minimum […]

self assessment tax return

Get ahead and invest in an accountant

A challenging task for start-ups and new business owners in the first year is the annual and rather scary prospect – the self-assessment tax return so get ahead and invest in an accountant. It’s a challenge which often results in a mad rush to meet the taxman’s end of January deadline. As daunting as the self-assessment process is, getting your return filed on time (and […]

2018 Budget landlords

Autumn Budget 2018: a summary for landlords

Following Philip Hammond’s Autumn Budget announcement, we’ve taken a look at what it could mean for landlords in the UK – including changes to the income tax personal allowance and higher rate thresholds. Even though the 2018 Budget was relatively light on announcements for landlords and the private rented sectors – the most important announcements were around personal tax, including the changes to the personal […]