Author Archives: Lisa Clarkson M.A.A.T.
HM Revenue & Customs (HMRC) has announced an extension of its Business Records Checks programme.
According to a recent press release: Business Records Checks were piloted earlier this year in eight key areas, and involve checks on the adequacy of small and medium-sized enterprises’ business records. The pilots found that around 44 per cent of … Continue reading
National Minimum Wage increases
The national minimum wage (NMW) hourly rates which will apply from 1 October 2011 are: · adult rate £6.08 (a 15p increase) · 18–20 year olds £4.98 (6p increase) · 16–17 year olds £3.68 (4p increase) · apprentices £2.60 (10p … Continue reading
HMRC update advice on delayed statements
HMRC have updated their guidance to those taxpayers who did not receive their Self Assessment statements on time. As previously advised, HMRC have had more Self Assessment statements than usual to issue this year. Normally these are all issued in … Continue reading
Holiday home tax relief is set to change
Landlords are being urged to make the most of a little-known tax relief on their holiday homes before it’s too late. Imminent changes to valuable tax allowances on holiday lettings mean that they should act now to offset losses potentially … Continue reading
Choosing Accounting Software
How to choose accounting software for small businesses The accounting software package that you choose when you start your business could affect how much financial control you have in the years to come. It’s a vital decision that many people … Continue reading
Should I be registered for VAT?
A common question amongst small business owners is whether or not they should register for VAT. Hopefully this article will help you make up your mind. Am I legally obliged to register? If your turnover (total sales) in the previous … Continue reading
Bookkeeping for Beginners
Bookkeeping for Beginners All businesses need to keep records of their financial transactions for several practical reasons: You need to know how well you are doing, whether you are making or losing money, what money you have in hand, and … Continue reading
HMRC warn of email scam
HMRC are warning that taxpayers are being emailed stating that they are entitled to a tax rebate. These emails are being sent from a number of bogus email addresses. They inform recipients that they are entitled to a tax rebate … Continue reading
