by Lisa Dickson | Mar 29, 2015 | Bookkeeping 101, HMRC and tax, Payroll
If you employ anyone under 21 years old you will no longer have to pay Class 1 secondary National Insurance contributions on earnings up to the new Upper Secondary Threshold (UST) for those employees. The employee will still continue to pay employee NICs. This change...
by Lisa Dickson | Mar 15, 2015 | Bookkeeping 101, Business Advice, Small Business Accounts
Travel subsistence is often a very grey area within HMRCs rules and regulations so it is important to understand exactly what you can reclaim without incurring a tax penalty. These should be carried out in the same manner as any other expense claim which means this...
by Lisa Dickson | Mar 15, 2015 | Bookkeeping 101, HMRC and tax
The flat rate VAT scheme is designed to reduce the cost of complying with VAT obligations by simplifying the way small businesses calculate their VAT. Designed to save time and money – but could it work for you? Read on to find out more. How does the flat rate...
by Lisa Dickson | Mar 15, 2015 | Bookkeeping 101, Business Advice, Small Business Accounts
Many banks will set you up with a company credit card when you set up your business bank account, others will make you wait until you have been in business long enough to establish a credit record before allowing you to apply for business credit cards. They can be a...
by Lisa Dickson | Mar 15, 2015 | Bookkeeping 101, Business Advice, HMRC and tax, Small Business Accounts
Updated 2023/24 It is simply an account in the balance sheet that summarises the transactions between a company director and the company. In simple terms: An asset is created where the company loans money to the director to be repaid at a later date. A liability is...
