An Employer’s Guide to Unlawful Deduction of Wages
Unlawful deductions of wages claims could be filed against you if an employee claims you illegally deducted money from their paycheck. What are your legal options if this happens, and how can you avoid future conflicts with your employees? That’s what we are going to take a closer look at here. What Constitutes an Unlawful […]
Your Guide to Furnished Holiday Let Tax Breaks and Financial Pros and Cons
Holiday Let Tax Breaks and Financial Pros and Cons Owning and renting out a holiday let can be very worthwhile. It not only ensures that your family and friends have a good time guaranteed during your holidays, but it also gives you the opportunity to earn some extra money. In this post, we’ll go over […]
Trading Income Allowance – What It Is and Why You Might Want to Claim It
HMRC introduced two new annual tax allowances of £1,000 each in early 2018. There is a trading income allowance as well as an allowance for people who earn money from property investment. These exemptions also apply to other sources of income, such as selling small personal assets online and offering your services for a fee. […]
UK Resident Meaning: Why It Might Be Harder to Define Than You Think
Am I a UK resident? It’s a simple enough question to answer, right? After all, you know where you live. However, as anyone who works abroad, spends a lot of time there or otherwise isn’t in the UK 24/7, UK resident meaning, at least for tax purposes, can be rather murky to define. HMRC introduced […]
Tip Pooling, Troncs and a Fairer Workplace for Everyone
Tipping dates from the 18th century, when customers in pubs would attach coins to notes handed to the barkeeper. The purpose of this monetary incentive was “to ensure promptness,” hence the term “TIP.” Tipping, like the industries in which it is found, has changed dramatically since then. In fact, few would have predicted the same […]
How the Employment Allowance Can Help Your Business Grow?
How the Employment Allowance Can Help Your Business Grow The Employment Allowance – referred to, inaccurately, by some as the employer’s allowance – reduces the amount of National Insurance that businesses must pay by up to £4,000 per year, a possible real boon for a small business. Is it possible for your small business to […]
Everything You Need to Know about Micro-entity Accounts
A micro-entity (also known as a micro company) is a very small, privately held limited company. If you’re the director of a micro-entity, submitting micro-entity accounts to Companies House can save you time when it comes to preparing and filing your accounts. Micro-entity accounts are a simplified format that contains all the information that all […]
Basic Guide to Benefits in Kind: What You Need to Know Now
It’s possible that you’re receiving a benefit-in-kind if you receive any other benefits as part of your job in addition to your salary (BIK), or, if you are an employer you are offering them to your employees. You may – often rightly- think of them as a workplace perk, or you may hear them referred […]
10 Reasons Your Contract May Fail the IR35 Test
10 Common Reasons Your Contract Might Not Pass the IR35 Test Are you a contractor, or representative of a personal service company trying to keep your contracts outside IR35 and pass the tough IR35 test? If so, this blog post is for you. If, as an entity we just described, you sign a contract that […]
Personal Service Company: What It Is and Why You Might Want to Form One
When then-Chancellor Gordon Brown used the phrase “personal service company” to introduce the well-known legislation IR35 in 1999, it caught everyone’s attention in the world of business (and especially accounting) There is no clear definition of a personal service company (PSC), though it is commonly used to refer to the limited company director who owns […]
