Monthly Archives: April 2016

New Employment Allowance for Employers to Reduce NIC

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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National insurance emploment allowanceIn January this year the Government announced that they will be increasing the annual ‘Employment Allowance’ for businesses from £2000 to £3000, from April 2016. In our latest post we explain what it means to your business and what steps you need to take to claim your allowance if you are eligible.

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National Living Wage: What you Need to Know

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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British one pound coins in a stackFollowing George Osborne’s summer budget last July, the National Minimum Wage is now in line with the National Living Wage.

This means that from 1st April 2016 it is a legal requirement for any employer, regardless of the size of their business, to pay employees aged 25 or over a minimum of £7.20 per hour.

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Changes to Tax Treatment of Buy to Let Properties and Second Homes

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Steph

Steph is a Chartered Accountant with many years’ experience working in audit compliance and general accountancy. She is a Fellow of the ICAEW and has extensive knowledge of accountancy and tax for the self employed.
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Home for SaleThe 1st of April saw the implementation of the first of a number of taxation changes impacting those purchasing or owning buy to let properties or second homes.

The growth in the “buy to let” market and the increase in individuals buying second properties over recent years have certainly had their critics with them being blamed, in part, for the overheating of the property market and many first time buyers being unable to afford their first home.  With “buy to let” lending making up 12% of the total mortgage approvals in the UK it isn’t surprising that the Chancellor turned his attention to these sectors of the property market with some fairly stringent taxation changes.

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