Changes in Employers Allowance from April 6, 2025 – what do you need to know? part 2
In the previous article, we discussed changes for companies where the director is the sole employee. Today, we will look at other situations, including companies that employ more people. Two directors drawing salary If a company has two directors who receive a salary and each of them earns more than £6,504 per year, it means […]
Changes from April 6, 2025 – What You Need to Know
The new tax year 2025/2026 brings significant changes that will affect both employers and directors of Limited companies. The new regulations, effective from April 6, 2025, will have a particular impact on companies where the director is the sole employee. In this article, we’ll break down the key changes and explain how they might affect […]
4th Grant
[et_pb_section fb_built=”1″ _builder_version=”4.6.5″ _module_preset=”default”][et_pb_row _builder_version=”4.6.5″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.6.5″ _module_preset=”default”][et_pb_text _builder_version=”4.6.6″ _module_preset=”default”] Fourth grant for self-employed will start at the end of April 2021, the exact date will be announced soon. Good news for people who did not quallfied for SEISS so far!!! If you started your seld-employment after March 2019 or you were […]
Flat Rate Scheme
[et_pb_section fb_built=”1″ _builder_version=”4.27.2″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Text” _builder_version=”4.27.2″ _module_preset=”default” global_colors_info=”{}”] VAT – Flat Rate Scheme What is it? VAT is calculated as a difference between VAT from sales (output VAT) and VAT from purchases (input VAT). Sometimes a person has a refund of VAT, but many times owes […]
Trivial benefits
[et_pb_section fb_built=”1″ _builder_version=”4.6.5″ _module_preset=”default”][et_pb_row _builder_version=”4.6.5″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.6.5″ _module_preset=”default”][et_pb_text _builder_version=”4.6.6″ _module_preset=”default”] I don’t know how many of you knows anything about trivial benefits. Many times, as an employer, you may think how to reward your hard working employees, give them something extra, some small token and in present climate save on taxes. As an employer […]
Business Entertainment
[et_pb_section fb_built=”1″ _builder_version=”4.6.5″ _module_preset=”default”][et_pb_row _builder_version=”4.6.5″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.6.5″ _module_preset=”default”][et_pb_text _builder_version=”4.6.6″ _module_preset=”default” hover_enabled=”0″ sticky_enabled=”0″] What is business entertainment and can we classify it as business expenses? What is classified as a business entertainment in relation to the clients: Food and drink Presents Cinema or theatre tickets Sports events tickets Entries to the clubs One would think […]
CIS – what is it, what for and what to do with it?
[et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” collapsed=”off”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}” collapsed=”off”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.0″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″] CIS (Construction Industry Scheme) is a tax deducted by the contractor from the subcontractor’s salary and transferred to HMRC. In other words, it is a tax that must be declared during self-assessment tax return and usually […]
Grant increase for self-employed
[et_pb_section fb_built=”1″ _builder_version=”4.6.5″ _module_preset=”default”][et_pb_row _builder_version=”4.6.5″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.6.5″ _module_preset=”default”][et_pb_text _builder_version=”4.6.6″ _module_preset=”default”] We are in the quarantine again! Thankfully the government took under the consideration situation of self-employed people and decided to increase the grant. Increase is from 55% to 80%. It is for two periods: November 2020-January 2021 February 2021 – April 2021 The maximum […]
Deadline to submit your tax return to HMRC is near
[et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.4″ _module_preset=”default” global_colors_info=”{}”] Deadline for self-assessment tax return (SATR) is 31 January. Anyone who is self-employed, who has turnover in excess of £1000, regardless of making profit or a loss, has to submit SATR to HMRC. Penalties if you don’t submit your return on […]