Well, the P11d dispensation ! An employer is required to inform HMRC of all expenses paid to an employee, even if those expenses are incurred in the performance of their duties and on the employers’ behalf – wholly, exclusively and necessarily. This means that the employee has no choice but
This is a question that comes up time and time again, and it depends on what you want out of your system, or out of your business. Choices are vast, from Sage, Xero, FreeAgent, Quickbooks, Clearbooks, Kashflow, Freshbooks or even just the humble excel file. It is often a personal
I get asked a lot by parents whose children work in the theatre or in films about whether the children are supposed to pay tax, and what happens about the costs the parent spend in order to get tax relief for these costs wholly & exclusively incurred. There is a
Sometimes it can be an uphill struggle to get owners of growing businesses to understand the need for sturdy & documented business processes to not only help when things need to get done but also when things go wrong and need to be corrected. The definition of the word “process”
I’ve done it myself – got rid of items (mainly clothes) that I no longer fit into in order to declutter the wardrobe, garage, loft and other hiding places for this stuff. I could spend a week doing it – no, maybe a month. I’m then left with what am
Now for most people this is no different to what they normally do and if you are a PAYE only employee or self-employed, then this won’t be relevant to you now. BUT, if you are a Company Director/Shareholder (or plan to be), then this will affect you. Dividend Tax
Are you aware of the view change ? OK – so this is not the most exciting topic ever, but one to know about. Your business must be registered for VAT when your rolling 12 month turnover reaches £82,000 although you should register if you believe your rolling 12 month turnover
Getting the Processes Together Over the Christmas period, I was playing “catch up” on the previous four weeks of Masterchef Australia as I love the format they have there, and the banter that comes with the judges. One of the challenges was trying to blend some obscure flavours together that
[countdown] It’s that time of year when the tax adverts are shown more often on the TV exclaiming that “tax does not have to be taxing”. For most people though, it is, especially if you have not been organised during the year and are now racking your brains trying to
Do you get the sinking feeling that you need to go through your accounts for the previous tax year and work out what expenses & benefits you have paid/given your staff or yourself? You heart sinks and you wish you’d sorted out that dispensation during the year as you were recommended.
The spreadsheet has been built for the self employed performer to be able to capture their costs in an ordered fashion which will make it easier to complete the page in the self assessment tax return.
