Expecting a child? Maternity leave is a complex issue that can make a huge difference to the lives of employers and employees alike. Hopefully this guide to maternity leave will help flag up some of the key issues.
It is no secret that the UK is a relatively great place to be an entrepreneur. In 2013, the UK was ranked in the top 5 G20 countries to start, grow, and run a business on EY’s Entrepreneurship Barometer, and recent news indicates that this trend will continue. This autumn, the Treasury committed £400m to extend Enterprise Capital Funds (ECF), ...read more
HMRC have released their 2014 list of the worst excuses for submitting your tax return late. As if by magic, here it is in no particular order:
Changes are being made that will affect VAT on B2C 'e-services'. For the uninitiated here are some services that will be affected:-
From 1 January 2015, companies filing their financial statements currently according to UK Generally Accepted Accounting Practice will see several changes implemented, in the form of FRS 102. We’ve set out the key changes to financial statements below, so you’re aware of them. Cash Flow Statement Currently, only 90% subsidiaries are exempt from preparing a cash flow statement (according to FRS 1), however ...read more
There are two normal ways to extract funds from a company – dividends, payable from profits, and salary, paid through a PAYE scheme. However, for limited companies with significant cash balances available, there is another tax-efficient option, allowing the shareholders to have funds returned to them potentially tax-free. The catch? It’s only available on the striking-off of the company. Extra-Statutory Concession C16, ...read more
The reduction in employers’ National Insurance Contributions (NICs) due to come into force next month means there may never be a cheaper time to bring fresh blood into your business – particularly the blood of young’uns. So, with a reduction in NICs for under 21s and youth unemployment at approximately 20% – much higher than it is for many of our ...read more
Most businesses incur expenses and losses while they are getting off the ground. Losing money can be a bit of a reality check at times but if you know the tax regulations it’s not all bad news. Any losses you make can be used to offset other profits in order to reduce your corporation tax. The methods for doing this will depend ...read more
The number of Brits affected by inheritance tax is set to double to 42,000 by the year 2016-17 according to experts, but it seems worryingly few of us know much about the tax at all. We’re here to put that right. Crowd pleasers to a fault, we’ve put together this guide to help you understand why inheritance tax is important – ...read more
If you are filing your tax return be warned: there are currently plenty of fraudsters trying to con you out of your hard-earned cash. There seem to be more than ever this year and we’ve received a number of warnings at Howlader & Co as the submission deadline looms. For those who have managed to avoid HMRC’s ‘Inner Peace’ campaign – or ...read more