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Bookkeeping and Accounting Services In Shropshire

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bookkeeping and accounting records

Updating Bookkeeping and Accounting Records

Every business should be regularly updating bookkeeping and accounting records, so business leaders can make the right decision with the figures and future of the business. Without updated books, any decision regarding product lines, pricing or customer capacity is really just a guess! Here are some big benefits of updating bookkeeping and accounting records on a regular basis and some tips to get you started with […]

making tax digital

Making Tax Digital for Business: VAT

HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. Under the new rules, businesses with a taxable turnover above the VAT threshold (currently £85,000) must keep digital records for VAT purposes and provide their VAT return information to HMRC using MTD functional compatible software. The new rules will have effect from 1 April […]

company car fuel rates

New company car fuel rates

New company car fuel rates, which took effect from 1 March 2019, have been published. The guidance states: “You can use the previous rates for up to one month from the date the new rates apply” – so you must have ensured you change your company car rates by 1 April. The rates only apply to employees using a company car. The advisory company car […]

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 […]