by Paul Whyatt | Mar 3, 2020 | Business Advice, News, Taxation
The government has announced the National Insurance rates and thresholds for tax year 2020-21. These confirm the government’s commitment to increase the point at which individuals start to pay National Insurance to £9,500 per year. A typical employee will save around...
by Paul Whyatt | Feb 13, 2020 | Business Advice, News, Taxation
The UK left the EU on 31 January 2020. There is now a transition period until 31 December 2020. During this period, the current rules on trade, travel and business for the UK and EU will be unchanged. New rules will take effect on 1 January 2021. The...
by Paul Whyatt | Feb 11, 2020 | Business Advice, Personal Tax, Taxation
The tax and NI exemption for “trivial benefits” has been around for more than three years. Despite this, it’s often overlooked as a tax-efficient way of treating your employees or yourself. What is a trivial benefit? It’s a gift made by your business...
by Paul Whyatt | Feb 10, 2020 | Business Advice, Business Start-up
This may seem an odd question, but many SME business owners are so busy they often don’t know. Far too many rely on being close to the business, their intuition, gut-feel etc. Ask yourself: Do you have up to date and accurate accounting and management information? Do...
by Paul Whyatt | Feb 6, 2020 | Business Advice, News, Personal Tax
HMRC has recently confirmed that it’s possible for an employee or a director of a company to be provided with two tax-free mobile phones, where one of them is for business use with any private use of this phone being insignificant. But if two mobile phones are given...
by Paul Whyatt | Feb 6, 2020 | Business Advice, News, Taxation
A 6.2% increase The government has announced a 6.2% increase in the national living (NLW) and national minimum wage (NMW) rates to take effect on 1 April 2020. Make sure that your payroll manager or outsourced payroll provider takes account of the increases by...
