Pensions Reform For Employers

The key points surrounding the ongoing employer pensions changes will which affect ALL employers by 2018…..   What is the Pensions Reform? Between now and 2018 ALL employers will need to be running an approved pension scheme for their employees. Employee’s aged 16-74 earning under £5,668 per year have a right to join the scheme. […]

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Dividends Explained

A basic guide to Dividends for Directors of micro-companies: how to pay, what to pay, and how to record in FreeAgent.   What is a Dividend? A dividend is a sum of money paid by a company to its shareholder(s). Dividends are paid from the company profits after corporation tax has been deducted.   Is […]

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Using Credit Notes

An introduction to Credit Notes, their contents, and how & when to use them….   What is a Credit Note? A Credit Note is basically a way to ‘refund’ part or all of an invoice previously issued or paid. The effect is that the amount owing on your client’s account is reduced or ‘credited’ by […]

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IR35 Deemed Salary Payments and related PAYE & NICs

A basic introduction to IR35 Contracts and Deemed Salary Payments for Freelancers….   Does IR35 Legislation apply to me? If you are contracting out your personal services via a Limited Company or a Partnership then, yes it is certainly something you need to be aware of. IR35 rules will then apply if, on any given […]

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Directors’ Self Assessment Responsibilities & Tax Liabilities

A basic introduction to Directors’ tax reporting requirements and the tax liabilities which may arise for a company Director    I’m a Director, do I need to do a Self Assessment Tax Return for HMRC? There is a mixed set of advice here, but if you were to ask HMRC they would say yes.  So […]

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PAYE Tax and Employee’s NICs – The Basics

A basic introduction to PAYE Tax and Employee’s National Insurance Contributions…   What is PAYE Tax? Pay As You Earn Tax is income tax deducted from an employee’s gross salary. The employer then pays this to HMRC on behalf of the employee each month or quarter. The idea behind it is that employees are paying […]

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