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Howlader & Co Blog

Guide to maternity leave: Key info for employers and employees

13th February 2015

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.

  1. Useful Information for both Employer and Employee
Any pregnant employee needs to provide written notice of when she wants to take maternity leave no ...read more

UK has competitive taxes on entrepreneurs

6th February 2015

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

Top 10 worst excuses for submitting your tax return late

6th January 2015

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:

  • I was up a mountain in Wales and couldn’t find a post box or get an internet signal.
  • I fell in with the wrong crowd.
  • I’ve been travelling the world, trying to escape from a foreign
...read more

New VAT changes to e-Services – a beginner’s guide

31st December 2014

Changes are being made that will affect VAT on B2C 'e-services'. For the uninitiated here are some services that will be affected:-

  • Telecoms (telephone, fax, internet access)
  • Broadcasting (radio, TV, live internet broadcasts)
  • E-services (video on demand, downloads of music and apps, online gaming, e-books, software and online auctions)
(A more extensive list can be found here) The guidance sets out the conditions that ...read more

FRS 102 – UK GAAP: Changes to financial statements

19th December 2014

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

Tax on striking off a company

20th June 2014

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

National Insurance cuts and youth employment: Why businesses should recruit youngsters

7th March 2014

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

Loss relief: How to offset your trading losses and reduce your tax

3rd March 2014

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

Inheritance tax: How to save thousands by planning in advance

28th February 2014

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

Filling in your tax return? Beware of sites pretending to be the HMRC

27th January 2014

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