by Lisa Dickson | Oct 11, 2015 | Bookkeeping 101, HMRC and tax, Payroll
Accounting for CIS So we understand the principles of CIS, but how do we account for the transactions in our accounting software? See An introduction to CIS if you need to recap. Account Codes We recommend that you set up the following general ledger account codes in...
by Lisa Dickson | Oct 10, 2015 | Bookkeeping 101, HMRC and tax, Payroll
Running a payroll This guide looks at some of the common payroll problems and choosing payroll software. Running payroll is one of the less glamorous aspects of being an employer. However, it is often the mundane tasks that are the most crucial. Failing to pay your...
by Lisa Dickson | Oct 2, 2015 | Bookkeeping 101, HMRC and tax
As the financial controller or business owner, it’s likely to be your task to deal with the VAT inspector when he comes to call. So what records can he ask to see and how much power does he really have? Why are you being inspected? VAT officers can visit your...
by Lisa Dickson | Jul 18, 2015 | Bookkeeping 101, HMRC and tax, Payroll
Medical insurance paid by the employer, is considered to be a taxable benefit in kind by HMRC. It is a benefit (like cars and gym memberships) that the company paid on the employees behalf and is part of their employment or remuneration package. This has to be...
by Lisa Dickson | Jul 18, 2015 | A-Z Expenses, Bookkeeping 101, Small Business Accounts
The rules for allowable business expenses are generally similar for limited and unlimited companies, with some subtle exceptions. Where there are differences – these are identified in the guide below. Childcare vouchers Fully allowable. Staff in the basic rate...
by Lisa Dickson | Jun 27, 2015 | Bookkeeping 101, Payroll, Small Business Accounts
Fortunately common sense prevails and in some cases the smallest of businesses are not considered to be an employer and do not have auto enrolment duties. If you don’t have any staff other than directors, and you are not expecting to employ anyone between now and your...
