Read full story «What are your responsibilities to pay the National Minimum Wage (NMW)?»

What are your responsibilities to pay the National Minimum Wage (NMW)? cas-admin

Posted on April 21, 2017 0 40

The current state defined wage rates are divided between the National Living Wage (NLW) – this is currently set at £7.50 per hour and only applies to workers aged 25 years and over – and the NMW for workers under 25 years. The NMW hourly rates are currently: Age group 21 to 24 – £7.05 Age group 18 to 24 – £5.60 Age group under 18 – £4.05 Apprentices £3.50Read More »

Read full story «Tax-free capital gains»

Tax-free capital gains cas-admin

Posted on April 21, 2017 0 35

Is there such a thing as a tax-free capital gain? In fact, there is… Every UK resident tax payer is allowed to make tax-free gains of up to £11,300 during the current tax year, 2017-18. Additionally, you can sell personal possessions and make a gain of up to £6,000 without paying capital gains tax (CGT). This includes a sale of the following items: jewellery paintings antiques coins and stamps setsRead More »

Read full story «Utilising tax losses»

Utilising tax losses cas-admin

Posted on April 12, 2017 0 37

We have listed below a few of the ways you can make best use of tax losses. Generally speaking, a tax loss arises when a claim for expenses and other allowances (for example capital allowances for equipment purchases) exceeds the income of the relevant trade. Many losses arise as a direct result of a difficult period of trading. Accordingly, the loss has in most instances reduced your business working capitalRead More »

Read full story «Will the new £1 coin affect your business?»

Will the new £1 coin affect your business? cas-admin

Posted on April 3, 2017 0 33

The new, 12 sided coin became legal tender from 27 March 2017. Businesses that deal in cash transactions, or use equipment that accepts the £1 coin should take note of the following: The 28 March 2017 to 15 October 2017 is nominated as the co-circulation period for the new £1 coin. What this means is: You can accept both old and new coins during this period. When you take coinsRead More »

Read full story «Working from home – rates and taxes»

Working from home – rates and taxes cas-admin

Posted on April 3, 2017 0 36

Clients often ask if working from home is going to create issues from a tax point of view. There are a number of scenarios to consider. Employers’ obligations to employee homeworkers: Equipment, services and supplies Employers that provide equipment, services and supplies to an employee who works from home, don’t have to report or pay anything if they’re only used for business purposes, or any private use is insignificant. AdditionalRead More »

Read full story «One week to go!»

One week to go! cas-admin

Posted on March 27, 2017 0 44

Next week sees the end of the 2016-17 tax year. On the 6 April 2017, any action you take to minimise your tax liabilities for 2016-17 will be largely ineffective. So what, if anything, can you still action this week? Capital gains tax (CGT) The amount of tax free gains you can make during 2016-17 is £11,100. This exempt allowance is available to all UK resident tax payers, accordingly, marriedRead More »

Read full story «New childcare funding choices»

New childcare funding choices cas-admin

Posted on March 27, 2017 0 40

The government have launched a new website aimed at parents who may be able to claim for support with childcare costs. The web address is https://www.childcarechoices.gov.uk/. How Tax-Free Childcare works Working parents will be able to apply, through the childcare service, to open an online childcare account. For every £8 that families or friends pay in, the Government will make a top-up payment of an additional £2, up to aRead More »

Read full story «Follow companies for free»

Follow companies for free cas-admin

Posted on March 20, 2017 0 46

If you want to keep an eye on documents filed with Companies House for a particular company, you can register for a new service that will do just that at Companies House. The new service is called “Follow” and it allows you to receive email alerts. Follow lets you receive email alerts of company transactions. The alert tells you instantly what has been filed as soon as it has beenRead More »