Accountancy News

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Wed, 16 Mar 2016

INCOME TAX Personal allowance increased from £10,600 2015/16 to £11,000 2016/17. New trivial income allowance of £1,000 frm 2017/18. Effective rate of tax on diviends:   2015/16 2016/17   Basic rate NIL 7.5%   Higher rate 25% 32.5%   Additional rate 30.5% 38.1%   Employment allowance increased from £2,000 2015/16...

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Wed, 8 Jul 2015

From 1 April 2017 the rate of Corporation Tax will reduce from 20% to 19%. From 1 April 2020 the rate will reduce by a further 1% to 18%. ...

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Wed, 8 Jul 2015

  From 6 April 2016 there will be no dispensations – any already in place will no longer apply. The expenses/benefits should be paid at the flat rates supplied by...

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Wed, 8 Jul 2015

From August 2015 it is mandatory that direct debits are set up for ‘time to pay’ arrangements. Remember, you’ll have to pay interest on the amount you pay late. ...

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Thu, 16 Apr 2015

In the next two years or so most businesses will have to set up a company pension scheme. The office of The Pensions Regulator will be contacting all employers...

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Thursday 1 January 2015

With effect from 1 January 2015 any company providing e-services to clients in the EU will have to register in every other country, or register with the UK VAT office...

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Running a payroll is complicated and the costs of doing it yourself can mount. In addition the new RTI late filing penalties have now started with further PAYE penalty changes...

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Wednesday 1 October 2014

The National Minimum Wage will be increased.With effect from 1 October 2014 the following rates apply :- Workers aged 21 and over £6.50 per hour (currently £6.31) Workers aged 18-20 £5.13...

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Thursday 12 June 2014

The government has announced that anyone who reaches retirement age with effect from 6 April 2017 may be eligible to receive the state pension at a rate of approximately...

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Mon, 30 Jun 2014

With effect from 30 June 2014 all employees regardless of status or length of service will be able to request flexible working. Employers must consider all requests carefully. Such...

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Sunday 6 April 2014

With effect from 6 April 2014 any PAYE tax paid late will immediately attract interest. Employers should ensure that all tax is paid on time taking into account weekends...

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Sunday 6 April 2014

Main changes for the new tax year include:- Corporation tax main rate 21 % Small profits rate 20% Mileage rate for business miles 45p per mile for first 10,000 25p per mile for...

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Thurs 27 Mar 2014

With effect from 27 March 2014 those individuals contemplating retirement or cashing in their pension savings will be able to choose whether to buy an annuity, cash in small...

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