OUR BLOG

Keeping you up to date on the latest accounting and tax issues

New Living Wage rates announced

Elaine ShawNov 10,2017

The new Living Wage rates for London and the rest of the UK have now been published. Unlike the National Minimum Wage and the National Living Wage, however, the real Living Wage is voluntary. The new rates, which are independently calculated each year, are as follows: Compared with Minimum Wage rates (over 25’s), the Living Wage for London is £2.70 more….

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New scam threatens elderly with HMRC lawsuit

Phil BlackburnNov 8,2017

Last month it was reported that HMRC had successfully taken action against more than 75 scam websites, since January, linked to its services. As a result it has averted in excess of a million visits to these misleading pages. In addition, it has requested the removal of over 20,000 other malicious websites and published advice on spotting them…..

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New campaign aims to continue to raise awareness of auto-enrolment

Elaine ShawNov 1,2017

The Pensions Regulator (TPR) and The Department for Work and Pensions (DWP) have launched a new, dual-branded, auto-enrolment campaign. The campaign places emphasis on the importance of employees ‘getting to know’ their workplace pension scheme and employers ‘getting to know’ their responsibilities. So far over 800,000 employers have enrolled around 8.7m employees into qualifying pension schemes. Now, with only a….

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How you pay HMRC is set to change

Carol GeorgeOct 26,2017

Due to a decline in demand for the service, from 15 December 2017 it will no longer be possible to make Tax/NIC payments at the Post Office via the Transcash system. Ultimately, HMRC would like to see everyone move to electronic systems; they boast speed, ease of use and are much more secure. Electronic payments,….

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Students set to save with changes to student loan repayments

Elaine ShawOct 12,2017

As part of an ongoing review of student finance, the Government has confirmed that student loan repayment thresholds will increase. The decision, many would say, is a clear attempt by the Conservatives to win the support of young people. Buying some time with changes to student loan repayments The planned changes effectively mean that thousands of graduates will soon….

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Making life easier with multi-user accounting software

Samantha GreenOct 10,2017

Last week, accounting software provider KashFlow™ announced long-awaited improvements to its online accounting package, designed for small business owners. What’s new? Following feedback from many of its customers, the company has revealed handy enhancements to the ‘multi-user’ function. These developments contribute to the continuance of a system whereby multiple users can access the same data sets within….

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Slump in popularity of ISA’s as saver’s priorities shift

Carol GeorgeOct 6,2017

HMRC figures show that the popularity of ISA’s is experiencing a slump. In 2015/16 the amount invested in ISA’s was £58.7bn, but this fell to £39.2bn in 2016/17. The number of ISA’s opened also declined by 1.6 million. Conversely, Stocks & Shares ISA’s seem to be a new favourite with savers; the total invested in these increased from £1.2bn in….

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Self-employed should be aware of self-assessment registration deadline

George Hay Chartered AccountantsSep 20,2017

HMRC must know about any new source of income by 5th October in the tax year following it’s establishment. The concern, with only a short time left to register for self-assessment, is that self-employed and gig-economy workers may be unaware of this requirement. Should you be registered for self-assessment? For these individuals, work doesn’t always come in….

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Pension contributions increase for employees whilst the self-employed still struggle to save

Elaine ShawSep 18,2017

Under The Pensions Act 2018, the minimum pension contributions paid into auto-enrolment schemes, by employers and employees, will increase. There will be two increases, the first in April 2018 and again in April 2019. As an employer you should consider how the new pension contributions will impact upon your budgets. Compliance is mandatory; any scheme not using the higher….

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SME’s and the problem with productivity

Martin WilliamsSep 15,2017

Small and medium-sized enterprises (SME’s) have a huge role to play within the UK economy. Forecasts predict that they will contribute over £217bn to the nation’s pot by 2020. Despite this, productivity in the UK is still a problem as it currently sits at an all-time low. Improving and maintaining productivity is a challenge for many businesses but it can be particularly difficult….

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