Paying Too Much National Insurance

Are You Paying Too Much National Insurance?

Are You Paying Too Much National Insurance?

Most people who earn £162 or more per week (or £6,205 or more a year if you’re self-employed) pay National Insurance. If you simply have one PAYE job, National Insurance is often fairly simple.

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When Is The Earliest You Can File Taxes 2018

When Is The Earliest You Can File Taxes In 2019?

When Is The Earliest You Can File Taxes 2019?

Are you wondering when is the earliest you can file taxes in 2019? The majority of people in the UK pay income tax through the PAYE system. If you’re employed, a portion of your salary will be taxed, and your tax contributions will usually be deducted from your monthly wage packet.

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What You Need To Know About Making Tax Digital

What You Need To Know About Making Tax Digital

What You Need To Know About Making Tax Digital

The UK government is making tax digital. From 2019, if you manage a VAT-registered company, and you have a turnover of more than £85,000 per year, you will be required to keep digital records and submit returns created using software that is compatible with Making Tax Digital (also known as MTD).

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Annual Leave

Background

Under the Working Time Regulations 1998 (as amended), workers are entitled to paid statutory annual leave of 5.6 weeks (28 days if the employee works five days a week). This basic entitlement is inclusive of bank holidays. This annual leave entitlement is now closer to that of workers in other European countries, where holiday allowance is typically more generous.

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Business Plans

Every new business should have a business plan. It is the key to success. If you need finance, no bank manager will lend money without a considered plan.

It is one of the most important aspects of starting a new business.

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Child Benefit Charge

The High Income Child Benefit charge applies to a taxpayer who has income over £50,000 in a tax year where either they or their partner, if they have one, are in receipt of Child Benefit for the year.

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UK Tax Codes For New Employees

A Guide To UK Tax Codes For New Employees

A Guide To UK Tax Codes For New Employees

When a new employee is hired, they will need a tax code. However, the tax code for the new employee will depend on whether or not a valid P45 has been handed to the new employer.

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Bribery Act 2010

The Bribery Act 2010 (the Act) applies across the UK and all businesses need to be aware of its requirements which came into effect on 1 July 2011.

The Act introduced a ‘corporate’ offence of ‘failure of commercial organisations to prevent bribery’.

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