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New Tax Year | What Does It Mean for Your Business

This week the Chancellor gave us the Spring Budget, and with the new tax year fast approaching, here’s what it means for your business. For information on how the new tax year affects you personally, please have a look at our blog post on this very subject. We have also written a handy blog on…

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The Autumn Statement and What It Means to You

The Chancellor delivered his Autumn Statement on Wednesday 23 November, which highlights what we can expect in the new tax year starting 6 April 2017. Below are the main highlights:     Business Tax Corporation tax is set to fall to 17% from 20% by 2020. £400m pledged into Venture Capital trusts to invest in innovative…

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New Tax Year 2015/16 – Directors’ Salary and Dividend Thresholds

With the start of the new tax year on 6 April 2015, the amounts directors can pay themselves in salary and dividends before incurring income tax have changed, as follows:   1. Personal Allowance increases to £10,600 This means that most UK taxpayers can earn £10,600 this tax year before paying any tax.  As a…

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Xero Payroll is Here!

We are thrilled with the new addition of Payroll to Xero Beautiful Accounting Software. From 6 April 2015 you can process your payroll through your existing Xero account, and payroll data will flow seamlessly into your Xero accounts. There will also be a secure employee portal, accessible through an employee app, allowing employees to access…

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HMRC PAYE Late Filing Penalties Come into Force 6 March 2015

Since the introduction of RTI (Real Time Information) filing for PAYE back in 2013, HMRC have been relaxed on introducing penalties. However, these penalties are now in force for all Employers.   When Could You Get a Penalty? your Full Payment Submission (FPS) was late you didn’t send the expected number of FPSs you didn’t…

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