Garry

With effect from 6 April 2020 there has been an increase in some of the National Insurance thresholds compared to the 2019 – 2020 figures. There has been no change to the Income Tax thresholds or rates in the UK for this tax year. The following Income Tax and National Insurance thresholds and rates will […]

On 1 April 2020, the government is increasing the National Minimum and National Living Wage rates. The hourly rate for the minimum wage depends on your age and whether you’re an apprentice. You must be at least: school leaving age to get the National Minimum Wage aged 25 to get the National Living Wage –

If you travel in the course of your business activities and you use your own vehicle for this travel you may be able to claim tax relief at an HMRC approved mileage rate. You should note that this does not include travel to and from your permanent place of work. There are differing rates depending

On 1 April 2019, the government is increasing the National Minimum and National Living Wage rates. The hourly rate for the minimum wage depends on your age and whether you’re an apprentice. You must be at least: school leaving age to get the National Minimum Wage aged 25 to get the National Living Wage –

From 6 April 2019 to 5 April 2020 the following Income Tax and National Insurance thresholds and rates will apply:-. Income Tax Thresholds & Rates England and Northern Ireland:- PAYE Tax Rates and Thresholds 2019-2020 Employee personal allowance £240 per week£1,042 per month£12,500 per year English and Northern Irish basic tax rate 20% on annual

Following on from our article explaining some of the pros and cons between setting up as a Sole Trader v’s Limited Company this article will explain the basics of how to set up a Limited Company and will hopefully show that the process is quite a bit easier than you might have thought. Following are

You may have heard people talking about your Balance Sheet or Profit and Loss Account (or P&L) but have not been sure exactly what these terms mean or what information they provide? If that is the case then hopefully this article will explain both and show how they are important, and useful, tools that show

When you start a new business venture, sometimes it’s hard to know whether you are best setting yourself up as a Sole Trader or a Limited Company. Below are some of the pros and cons of both types of business that will hopefully help you decide. Limited Companies – These are business organisations owned by

What is VAT? VAT stands for Value Added Tax and is a form of indirect taxation used by the Government to raise income. VAT is charged on most business-to-business and business-to-customer transactions. Businesses must register for VAT when their “taxable turnover” exceed the “VAT threshold”, which currently stands at £85,000. Some businesses opt to register

p>On 1 April 2018, the government is increasing the National Minimum and National Living Wage rates. The hourly rate for the minimum wage depends on your age and whether you’re an apprentice. You must be at least: school leaving age to get the National Minimum Wage aged 25 to get the National Living Wage –