by SP Media | Aug 21, 2019 | Business, Finance, HMRC, News, Tax
At this time of every year, HM Revenue and Customs embark on a massive computerised reconciliation process. This is to check that those with PAYE records, but not in self-assessment, have paid the right amount of tax in the preceding tax year. Where the department... 
by SP Media | Aug 7, 2019 | Business, Finance, HMRC, MTD, Tax, VAT
It’s good for businesses to know that HMRC expects them to record digitally for every individual invoice, no matter how minor and inconsequential it might be. This stands irrespective of the fact that a business’s clients might make a single monthly payment against a... 
by SP Media | Jul 18, 2019 | Business, Finance, HMRC, News, Tax
The new fuel rates take effect from 1 June 2019, although the previous rates can be used for an additional month. These rates only apply to employees who are using a company car in the following scenarios: When employees are reimbursed for business travel in their... 
by SP Media | Jul 10, 2019 | Business, Finance, HMRC, Tax
The HMRC form P11D is the form employers use to report the details of taxable expenses and benefits provided to employees and directors during the course of a tax year, after that year has ended. Employees pay tax on the benefits disclosed on the submitted P11D via a... 
by SP Media | Jul 10, 2019 | Business, Finance, News
In a recent report by the Low Pay Commission (LPC), it was found that the number of people being paid less than the statutory minimum wage is on the rise. In April 2018, 439,000 workers were paid less than the National Minimum Wage (NMW), and out of those individuals,... by SP Media | May 29, 2019 | Business, Finance, News
The UK Government has issued new advice to small businesses on how they could be affected by the UK’s leaving the EU. The documents contain advice regarding a range of issues, such as sending and receiving personal data and EU-UK trading. The UK government recommends...