Is the Christmas party tax allowable?
It may only be September, but many of us will have already booked our work Christmas party to celebrate. But what are the costs to your business of the Christmas party and what is tax allowable for your…
Potential dividend allowance cut could “clobber” small businesses
The Chancellor of the Exchequer has been urged not to ‘clobber’ small business owners by taking away the Dividend Allowance. The Federation of Small Businesses (FSB) has expressed concern that the Chancellor will reduce the tax free dividend…
Ageing SME directors are driving down the value of their business – and it’s costing their retirement!
A new study by Moore Stephens has shown that ageing directors of SMEs are failing to make adequate exit plans from their business, and thus driving down its worth and what they make from it when they retire.…
Auto-enrolment pensions spot checks are on the increase
The Pensions Regulator is increasing the amount of auto-enrolment spot checks it carries out, looking across Essex, Kent, Hertfordshire, Bedfordshire and Cambridgeshire. Over the last 12 months it has concentrated its efforts in the larger cities of London,…
The number of sick people going into work is on the increase
According to new research from Reuters, people are going to work even if they’re sick, and it’s on the increase. The number of working days lost due to illness has fallen to it’s lowest ever rate, but that…
New Xero Expenses is coming
Xero is changing how it’s expenses module works We love Xero at Flamingo Accounting and make no secret of it. Now they are giving their Expense module an overhaul and introducing great new features. Changes to improve the…
A Contractor group has called on HMRC to open a ‘suicide hotline’ in response to the new loan charge
Volunteer support group – the Loan Charge Action Group (LCAG) – which represents contractors and freelance workers, has called on HMRC to set up a 24 hour ‘Suicide Hotline’ to deal with the increasing number of people concerned…
Small businesses feel penalised by HMRC investigations
HMRC has commissioned and released research into it’s own investigations and the impact on small businesses. Over half of those questioned said that they felt the HMRC investigations were too intensive and disruptive. 52% of the business stated…
Non taxable benefits and payments to employees
Not many people realise but there is an extensive list of benefits and payments that an employer can give to an employee without having to pay income tax or national insurance on and they do not have to…
Sole trader vs Company: Benefits and Drawbacks
Should I be a sole trader or a company? We are often asked that question when people are setting up in business, and the truth is it depends on the individual scenario and what you are looking to…