New legislation came into force this month regarding employees’ payslips. There are two issues which are being amended: Firstly, under the new system employers will need to provide itemised payslips to every worker on their payroll, not just those classified as ‘employees’. Currently, employers are not obliged to issue payslips to contractors, freelancers, and other … Continue reading What’s on Your Payslip?
Any company involved in an international supply chain carrying out Customs related activities in the EU should consider applying for Authorised Economic Operator Status. A business which has achieved Authorised Economic Operator Status (AEO) has shown itself to be a trustworthy trader, and this internationally recognised quality mark is being highlighted by the UK Government … Continue reading Authorised Economic Operator Status
25 May 2018 saw the introduction of a new data protection regime in the UK. As part of the changes, a new data protection fee structure now applies, which replaces the previous requirement to register with the Information Commissioner’s Office (ICO). Here, we consider the rules in more detail. The regulations: an overview On 25 … Continue reading Data Protection Self-Assessment: Are You Up-To-Date?
The 2018 Autumn Budget announced changes to the ‘off-payroll’ working (or ‘IR35’) rules, which are set to apply from April 2020. This may affect you if you work on a contract through a personal service company (PSC) in the private sector, or hire or place such workers. Similar rules already apply in the public sector. … Continue reading New Rules for Personal Service Companies
Landlords have been subject to a number of significant tax changes in recent times, including restrictions in the allowability of finance costs for tax purposes, which are being phased in between 2017/18 and 2020/21. With this in mind, many are contemplating the potential advantages of furnished holiday lettings (FHLs). Here we outline some key areas … Continue reading Furnished Holiday Lettings – a Tax-Free Alternative?
The South Wales Argus has covered our upcoming Charity Ball. Cwmbran-based accountancy firm, Green & Co, is hosting a Charity Ball to mark 25 years in practice, and to celebrate winning the prestigious award of UK Medium Practice of the Year. The event is being held on Friday 5th April at Rougemont Auditorium and will … Continue reading Accountancy Firm Celebrates 25 Years in Business by Hosting Charity Ball
Further to the publication of the rates and thresholds from HMRC, from 6 April 2019 we are advising our clients that directors will be able increase their current salary with no tax or national insurance deductions. Directors of Limited Companies will be able to increase their salaries from £702.00 to £719.33 per month, or weekly … Continue reading Increase to Directors Salary
A poll commissioned by insurance firm Aon recently suggested that UK small and medium-sized enterprises (SMEs) are 'unmindful of the risks' that cyber-attacks and data breaches pose to their business. The poll found that eight out of ten small firms don't regard cyber-attacks or data breaches to be significant risks to their business. A survey … Continue reading UK SMEs ‘Unmindful of Risks Posed by Cyber-Attacks’, Poll Suggests
In the 2018 Autumn Budget, Chancellor Philip Hammond announced a new capital allowance, the Structures and Buildings Allowance (SBA). The new SBA gives relief for expenditure on certain structures and buildings. Since the abolition of the Industrial and Agricultural Buildings Allowances, no relief has been available for most structures and buildings. The SBA addresses the … Continue reading The New Structures and Buildings Allowance
A report published by the Business, Energy and Industrial Strategy (BEIS) Committee recently highlighted how 'bad payment practices' have led to the 'failure' of many small and medium-sized enterprises (SMEs). The government's Prompt Payment Code, which was created to address poor payment practices, has 'too often' been 'ineffective', according to the Committee. A 'statutory requirement' … Continue reading Government Urged to Take ‘Tough Action’ on Late Payments