Advice

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Payroll: RTI Penalties And Grace Period 1 Sep 2021 Deadlines, Employment, Tax - With RTI, penalties are charged if the FPS is filed late or if HMRC did not receive the expected number of FPSs or an Employer Payment Summary
Bounce Back Loans And Directors’ Loan Account 1 Sep 2021 Fundraising, Tax - Personal use of the loan could also mean a large tax bill for the company if it is not repaid into the company's bank account within 9 months.
Tax Consequences Of ‘Illegal’ Dividends 27 Jul 2021 Bookkeeping, Employment, Tax - If a director sanctions illegal dividend payments, there can be significant tax for both the individual concerned and the company.
Termination Payments And Class 1A National Insurance 27 Jul 2021 Employment, Tax - When terminating an employment, the employer may need to pay Class 1A National Insurance on a termination award made to the employee.
Ben Rule Discusses The Challenges Of Going Back Into The Office 27 Jul 2021 COVID-19, Leadership, Opinion - Co-founder of Finerva, Ben Rule, discusses the challenges ahead for businesses looking to reintegrate back into the office.
No Retained Profits – How To Extract Cash To Cover Living Expenses? 21 Jul 2021 Bookkeeping, Employment, Strategy, Tax - A popular strategy is to take a small salary which is at least equal to the lower earnings limit and to extract further profits as dividends.
National Insurance (NIC) & Company Directors 21 Jul 2021 Employment, Strategy, Tax - When it comes to calculating their Class 1 National Insurance liabilities, there are special rules applying to company directors.
What Happens If Your Business Is Chosen For An HMRC Enquiry? 20 Jul 2021 Tax - A full enquiry is both costly and time-consuming, for both sides, therefore should a business find itself the subject of one then it will be for a good reason – at least in the HMRC’s eyes.
Return To The Office: The Next BIG Thing 27 Jun 2021 COVID-19, Leadership, Strategy - Leadership expert and consultant Nicola Forbes-Taylor shares four key considerations about the return to the office and why it’s the next big thing.
EU VAT: New Rules & Import One Stop Shop (IOSS) Coming 1st July 2021 22 Jun 2021 Brexit, Tax - Starting 1 July 2021, new EU VAT rules will come into force. The Import One Stop Shop (IOSS) will allow companies to account for EU VAT.
Take Advantage Of Enhanced Carry Back Of Losses 3 May 2021 Tax - To help loss-making businesses, legislation is to be introduced to increase temporarily the period for which a business can carry back a loss from one year to three years.
Can You Claim Employment Allowance For 2021/22? 3 May 2021 Employment, Tax - To qualify for Employment Allowance, the employer’s Class 1 National Insurance liabilities for 2020/21 must be less than £100,000.