The Autumn Statement and the effect on small businesses
The government has announced a cut to the main rate of Class 1 employee NICs from 12% to 10% from […]
Pensions
Company pension contributions – make sure these are paid in time
A company can make pension contributions for a director. However, timing is key, as it is not possible to accrue
Watch those interest rates
Many will have savings tucked away, perhaps in ISAs or in standard savings accounts. Despite 9 interest rates in 2022,
Pensions for employees – be careful with seasonal or temporary staff
If you employ seasonal or temporary staff, you must assess them individually based on their ages and how much they
“Casual Labour” – tread carefully!
There have long been misconceptions regarding labour costs, “self-employed staff” and “cash in hand” payments. Employing someone through the PAYE
Inheritance Tax and gifts out of income
There is a £3000 annual allowance for gifts – a very small amount! However, another exemption which might be useful
Saving for your pension – beware the annual limits
The maximum annual allowance for pension contributions is currently £40,000 p.a. although it is possible to use up some past
Higher Rate taxpayers – some simple tax savings tips that are easily overlooked
If your pre-tax income exceeded £50,000 in the last tax year (2020/21) it is possible that you may have been