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The Accountants for Growth
Is there a better way of dealing with this?
Small and medium size companies have got used to filing abbreviated accounts for a number of years however these have been abolished for accounting periods commencing on or after 1 January 2016.
We are regularly asked what can I spend on my team and clients as a ‘thank you’ each Christmas and it is not an easy question to answer in a sentence. Let’s look at the allowable costs and we will start with staff parties:-
If you are self-employed when applying for a mortgage, you’re often asked to produce proof of your earnings for the last 3 years. The easiest way of getting that information has always been to request it from H M Revenue & Customs. The document produced by HMRC (an SA302) summarises your Self-Assessment Tax Return.
A significant number of micro employers still remain unaware of their Auto Enrolment responsibilities despite everything that The Pensions Regulator (TPR) are doing to make them aware of their obligations in good time.
The 2016 Finance Bill brought in sweeping changes to the way in which dividend income will be taxed and also took away various reliefs which tax payers could previously offset against rental income.
With effect from 30 June 2016 the confirmation statement has replaced the annual return.
The idea behind the confirmation statement is that once a year, you will be required to review the information that is held about your company at Companies House and confirm that it remains accurate.
Much of the grant funding that was sourced through the government was culled overnight at the back end of 2015 with little or no warning. This left SMEs who had started making funding applications in a difficult position and many had to curtail their expansion plans.
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