Is DIY Business Accounting Possible?

It can be appealing to think you can prepare your own company accounts and file your own tax returns for a small company. After all, think of the money you would save, especially if you run a small, straightforward business. It is certainly possible to maintain the correct records and complete the relevant tax returns for HMRC. The introduction of online submission processes for bo… Continue Reading

How To Select the Right Accountant

Whether you have an established business, have just started a business or are still at the planning stage, the choice of accountant is an important decision. For a new company, busy with all the excitement of getting up and running, selecting an accountant may not seem to be a top priority but bringing an accountant on board early can help with setting up a Limited Company and structu… Continue Reading

National Minimum Wage Increases From October 2013

From October 2013 the National Minimum Wage for workers in the UK has risen as to the following rates:

• £6.31 per hour for those aged 21 and over
• £5.03 per hour for those aged 18 to 20
• £3.72 per hour for those aged 16 to 17
• £2.68 per hour for apprentices (aged under 19)

This is an increase of 12p an hour for adults aged 21 and over and of 5p an hour for 18- to 20-year-olds resulting from recommend… Continue Reading

Tax On Residential Property Held By A Company

A new annual UK tax was introduced on 01 April 2013 called the Annual Tax on Enveloped Dwellings, or ATED. This new tax relates to any entity other than individuals; so companies, partnerships, LLPs (Limited Liability Partnerships) that hold a residential UK property worth over £2m. Where an ATED charge applies the first returns have to be submitted by 01 October 2013 and the tax pa… Continue Reading