by Mubashir | Apr 14, 2018 | Misc, Payroll & PAYE
In this section we consider some of the most important tax issues for employers and employees. Is your tax code correct? – A Guide from Wimbledon Accountants The purpose of the PAYE system is to collect the right amount of tax from your earnings throughout the...
by Mubashir | Apr 2, 2018 | Budgets & Other, Landlord, Limited Company, Payroll & PAYE, Personal Tax
Income Tax Rates and Bands Recent income tax rates and bands are as follows: 2015/16 2016/17 2017/18 Savings rate: 10%, 0% from 2015/16 0 – £5,000 0- £5,000 0- £5,000 Dividend Allowance: 20% NA 0 – £5,000 0 – £5,000 Basic rate: 20% 0 – £31,785...
by Mubashir | Mar 30, 2018 | Limited Company, Misc, Payroll & PAYE
Main Tax Late Filing and Payment Penalties This article summarises the main tax late filing and payment penalties. In addition, you should be aware there are penalties for providing incorrect information. As a small business owner you will have to deal with a number...
by Mubashir | Mar 29, 2018 | Misc, Payroll & PAYE
Pay Staff Tax Free – Staff Suggestion Scheme This scheme is specifically allowed and provided for in the legislation. It is very simple to operate and works as follows… Employees can be rewarded for making suggestions that relate to your business...
by Mubashir | Feb 22, 2018 | Budgets & Other, Limited Company, Misc, Payroll & PAYE
National Insurance – Your Way Around the Maze All rates in this article are for 2018/19. NIC for Employees For employees Class1 National Insurance (NI) primary contributions are deducted from their salary each month as part of the PAYE system. They are paid on...
by Mubashir | Feb 12, 2018 | Limited Company, Misc, Payroll & PAYE
PAYE Problems of Casual Workers HMRC regularly raises questions regarding casual workers and the payment of them (or not!) through the PAYE system. Getting this wrong can cost a lot in the way of arrears of PAYE going back 6 years as well as interest and penalties....