Archive | Finance

VAT FLAT RATE SCHEME : ALL CHANGE

As you may be aware HMRC decided to curb on businesses who use the Flat Rate Scheme and introduced “Limited cost businesses” from 1 April 2017 If you’re a limited cost business, you should use the flat rate of 16.5%. There’s a simple calculator available to help businesses work out whether they’re a limited cost […]

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National Minimum Wage (Oct 2016)

National Minimum Wage rates from 1 October 2016 will be: £6.95 per hour – 21-24 yrs old £5.55 per hour 18 – 20 yrs old £4 per hour – 16-17 yrs old £3.40 for apprentices under 19 or 19 or over who are in the first year of apprenticeship. National Living Wage There will be no change […]

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Information sharing when applying for loans/mortgages

A couple of days ago, the below flew into my mailbox from HMRC; Documents to support loan and mortgage applications- Update In our last communication we told you about the work we have been doing with the Council of Mortgage Lenders to improve our online documents. In particular how we have improved the Tax Calculation […]

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Budget 2015 – “Post Election”

George Osborne delivered his seventh Budget as chancellor on 8 July 2015 Personal taxation and pay New national living wage will be introduced for all workers aged over 25, starting at £7.20 an hour from April 2016 and set to reach £9 by 2020 – giving an estimated 2.5 million people an average £5,000 rise […]

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National Minimum Wage (Oct 2014)

The national minimum wage will increase by 19p an hour to £6.50, the government has announced. The new rates will be implemented in October 2014. It is the first time in six years that the rise will be higher than inflation. The rate for 18 to 20-year-olds will go up by 10p to £5.13 an […]

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