HMRC believes that the current PAYE system is inadequate and antiquated as work and pay practices are different from when the system was first introduced in 1944. From April 2013 there will be a new way to report PAYE information in Real Time Information. PAYE will not change, just the way, and how often, you … Continue reading Getting Your Business Ready for PAYE Real Time Information (RTI) →

Having had a nice break over Christmas, we thought we might revisit the question of dividends paid to director/shareholders. Many one man companies use dividends as a means to provide tax and NI efficient payments to the director/shareholder. In many cases, the payments are simply transfers of cash with no specific purpose, and it is … Continue reading Paying Yourself by Dividends →

And now for some news that is “hot off the press”, at least at the time of writing. Subway has lost its appeal against VAT being charged on its hot toasted subways and meatball marinara! Some of you will recall the debacle a few months ago after the government announced a “pasty tax” in the … Continue reading The Subway Toasted Sandwich Ruling →

An employment tribunal has recently awarded £4,000 to a part-time worker after she had been denied holiday pay. It is, therefore, perhaps time to review the rules relating to holidays. These rules apply to all workers, and may even apply to “self-employed” workers if they undertake to perform the work personally. Employers cannot exclude part-time … Continue reading Employee Rights To Holiday Pay Rights →

Like all accountants we are beginning to build up to the January deadline for submitting tax returns. The deadline is January if the tax return is submitted electronically. However, there is a nearer deadline looming. October 31st is an important deadline in two circumstances: 1. It is the deadline for submitting your tax return on … Continue reading Registering for Self Assessment Deadline →