Budget October 2021
October 28th, 2021On 27th October 2021 Chancellor Rishi Sunak delivered the Autumn 2021 budget. Whilst this budget was more focussed on spending, there are a few key points from this budget and previously announced tax rises. The Health and Social Care Levy: A levy of 1.25% will be added to Class 1 (employers and employees) and […]
Continue ReadingProfit Vs Cashflow – What’s the difference?
Cashflow and profit are very different. Business owners can often be confused into believing they are highly profitable because they have a large amount of cash and vice versa. It is important to understand the difference between the two concepts. What is cashflow? The money that comes into, through and out of your business. […]
Continue ReadingCorporate Expenses Guide – What business costs are tax allowable for Limited Companies
In general, tax-deductible expenses in a Limited Company must be wholly and exclusively for the use of the business. If an expense has a dual purpose for both personal and business, you can only claim for the business element. A summary of the rules for typical costs incurred by a company include: Staff expenses – […]
Continue ReadingSeptember 2021 Dates for your Diary
September 13th, 2021 Continue ReadingAn Employer’s Guide to Payrolling Statutory Payments
As an employer there are various statutory payments that you must pay your employees when they become eligible for them. Thinking about if your employee is eligible and what they need to be paid can seem like a daunting subject! This guide contains everything you need to know about making statutory payments. Statutory […]
Continue ReadingDates for your diary August 2021
August 2nd, 2021 Continue ReadingShould I put my car through my Limited Company?
Believe it or not, this is not as straightforward a question as it may seem. There are many factors to consider when deciding whether to put your car through your Limited Company. Here is a summary of some of the key factors: If you use the vehicle privately, you will pay tax on the company […]
Continue ReadingJuly 2021 Dates for your Diary
June 24th, 2021 Continue ReadingPayrolling Benefits; An employer’s guide to payrolling employee benefits
Payrolling Benefits; An employer’s guide to payrolling employee benefits In 2016 HMRC introduced the option for employers to payroll employee benefits in kind. This allows employers to process employee’s benefits through payroll and pay tax on the deduction throughout the year rather than submitting and paying it via a P11D at the end of the […]
Continue ReadingA Guide to P11D’s
A guide to employee benefits that must be reported on a P11D: The P11D is used to tell HMRC about the cash value of any expenses and benefits that don’t go through payroll. Anything the company pays for or buys for the direct benefit of an employee should be included. The most common benefits […]
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