The Government is urging SMEs make use of a scheme that can earn them a £2,500 voucher towards the installation of fibre optic broadband.
Small Business Archives - Page 2 of 3 - Martax Accountants
November 22, 2018
August 18, 2017
HMRC Important filing deadlines
Important Deadlines for individuals, self-employed and CIS subcontractors Individuals, sole traders and CIS subcontractors Filing deadline Second payment on account for 2019/20 tax year 31 July 2020 Deadline to advise HMRC that you need to register for self-assessment for the tax year 2018/2019 5 October 2019 Deadline for filing Self-Assessment Tax Return with HMRC if
July 13, 2017
What expenses can I claim as a contractor working through my own Ltd company?
In simple terms, expense is the money spent by an organisation for the purpose of business. In accounting, an expense is an outflow of cash or other asset of value incurred during a particular accounting period. As a limited company contractor, you may incur various business expenses whilst undertaking your contract duties. Claiming all your
July 13, 2017
Flat Rate VAT Scheme and Limited Cost Traders
A business is a limited cost trader if its VAT inclusive expenditures on relevant goods is either: Less than 2% of your VAT Flat rate turnover Greater than 2% of your VAT flat rate turnover but less than £1,000 per year or £250 for the quarter You are required to check every quarter if you
July 13, 2017
National Insurance Contribution Rates for the tax year 2017/18
National Insurance Contribution Thresholds 2017/18 £ per week 2016/17 £ per week Weekly lower earnings limit (LEL) 113 112 Weekly primary threshold (PT) 157 155 Weekly secondary threshold (ST) 157 156 Upper earnings limit (UEL) 866 827 Upper profits limit (per year) 45,000 43,000 Upper Secondary Threshold for U21’s 866 827 Small Profits Threshold (SPT)
July 13, 2017
Tax Rates and thresholds for the tax year 2017/18
Taxable Income bands and corresponding rates 2017/18 2016/17 Basic rate 20% 20% Higher rate 40% 40% Additional rate 45% 45% Starting rate of saving income 0% 0% Dividend ordinary rate (effective rate with tax credit) 7.5% 0% Dividend higher rate (effective rate with tax credit) 32.5% (25%) 32.5% Dividend additional rate (effective rate with tax
July 13, 2017
VAT Flat Rate Scheme changes from April 2017
The autumn statement included the decision to introduce a new flat rate of 16.5% for ‘Limited Cost Traders’ (LCTs) from 1 April 2017. These are defined as people who incur costs on goods in a return period of: Less than 2% of their gross turnover; or More than 2% of their gross turnover but less
July 13, 2017
Buy To Let Bring Record Receipts For April
April saw the highest level of stamp duty land tax (SDLT) recorded for a single month, according to statistics released by HMRC. Nearly £1.2bn was raised from 173,430 property transactions in March.
July 13, 2017
Auto-Enrolment
If you are an employer you are now legally required to enroll your eligible employees into a qualifying pension scheme. This reform is staged over a six-year period, and is phased depending on the size of the employer. Minimum contributions are based on what’s known as ‘qualifying earnings’. For 2016/17, this is everything over £5,824
June 26, 2017
Taxable Income bands and corresponding rates
Taxable Income bands and corresponding rates 2015/16 2016/17 Basic rate 20% 20% Higher rate 40% 40% Additional rate 45% 45% Starting rate of saving income 0% 0% Dividend ordinary rate (effective rate with tax credit) 0% 0% Dividend higher rate (effective rate with tax credit) 32.5% (25%) 32.5% Dividend additional rate (effective rate with tax