Getting paid on time remains one of the biggest challenges facing many small and medium-sized businesses. Late payments can place pressure on cash flow, increase borrowing requirements and divert valuable management time away from running and growing the business. Against this backdrop,
The benefits of Fair Payment Code accreditation Read More »
Capital Gains Tax (CGT) is a tax on the profit you make when you sell or dispose of an asset that has increased in value. It is the gain itself that is taxed, not the total amount you receive. For example, if you buy shares for £3,000 and sell them for £8,000, the taxable gain is
Capital Gains Tax if selling shares or investments Read More »
Your National Insurance record can be checked online to see what contributions and credits you have built up and whether you have any gaps that may affect your State Pension.
The record shows how much National Insurance you have paid up to the start of the current tax year, as well as any
Understanding your National Insurance record Read More »
The range of benefits that can be provided tax-free by an employer is relatively limited, but there are several common exemptions that apply where certain conditions are met.
Meals provided in a staff canteen can be exempt where they are offered to all employees on a reasonable scale and
Tax-free benefits in kind from your employer Read More »
When you donate money to a charity or Community Amateur Sports Club (CASC) under Gift Aid, the organisation can claim an extra 25p from HMRC for every £1 you give. This increases the value of your donation at no extra cost to you.
If you pay higher or additional rate tax, you can also
Claiming tax relief on charitable donations Read More »
Your tax code tells your employer or pension provider how much Income Tax to deduct from your pay. It is set by HMRC, and you may have a different code for each job or pension.
Most people with one job (or pension) use the code 1257L, which reflects the standard Personal Allowance of
Understanding your tax code Read More »
Members of a Limited Liability Partnership (LLP) are normally treated as self-employed for tax purposes. However, special rules can apply where a member’s terms of membership are more akin to the terms of an employee than a partner in a traditional partnership. These are known as salaried
Salaried members of LLPs Read More »
Equal pay claims can grind on for years before resolution. However, the ground has shifted since the Court of Appeal (CoA) took Tesco’s own operating and training manual as the definitive source on employee roles rather than any granular analysis of their activity.
This claim began in
The corporate manual, not time and motion studies, defines employment roles Read More »
Many small business owners assume that exporting is something reserved for larger companies with dedicated sales teams and substantial resources. In reality, advances in technology, online marketplaces and international logistics have made overseas markets more accessible than ever,
Could exporting help your business grow? Read More »
The Government has confirmed that important changes to Companies House filing requirements will now take effect from April 2028 (rather than April 2027), giving small companies and micro-entities additional time to prepare for the new rules.
One of the most significant changes is the
Profit and loss accounts to be filed from April 2028 Read More »
