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11/01/2018 NMW and directors

26th February 2018 by

NMW and directors

We reviewed a number of national minimum wage (NMW) traps that can catch-out employers in our newsletter on 14 December 2017, but we glossed over the need to consider the NMW for directors’ pay.

11/01/2018 First time tax returns

26th February 2018 by

First time tax returns

An individual should file a tax return if they have a liability to tax, and that tax will not be collected through PAYE. For years before 6 April 2016, the tax deducted at source from interest and the tax credit attached to dividends would cover the tax liability of basic rate taxpayers who received large amounts of investment income.

04/01/2018 Ways to pay tax

26th February 2018 by

Ways to pay tax

It is already too late to pay a tax liability with cash or cheque at a Post Office counter, as this service was withdrawn on 15 December 2017. The ability to pay tax using a personal credit card will be ceased on 12 January 2018, as we explained in our newsletter on 26 October 2017.

January 2018 Monthly Newswire

26th February 2018 by

Welcome to our monthly newswire. We hope you enjoy reading this newsletter and find it useful.

KEY TRENDS TO WATCH IN 2018

Technology and innovation are driving the evolution of most businesses these days. Here are some of the key business trends to watch out for in 2018.

January 2018 Tax E-News

26th February 2018 by

Happy New Year and welcome to our first monthly newswire of 2018. We hope you enjoy reading this newsletter and find it useful.

NEW YEAR RESOLUTIONS TO SAVE TAX

At this time of year we think about New Year’s resolutions. It is also a good time to start planning your tax affairs before the end of the tax year on 5^th April.

An obvious tax planning point would be to maximise your ISA allowances for the 2017/18 tax year (currently £20,000 each).

21/12/2017 Student loan repayments

26th February 2018 by

Student loan repayments

When a new employee starts work they should present the employer with a form P45. If they don’t have a P45 for the current tax year, the employer should ask the new employee to complete a starter checklist to collect the information required to work out what PAYE code to apply.