Your money: Year-end tax tips

There is only one month remaining of the 2014/15 tax year. Here is a summary of personal tax reliefs and allowances to use before the tax year-end. Income tax The personal allowance is £10,000 for 2014/15 and will rise to £10,600 in 2015/16. Make sure that your spouse or civil partner is taking advantage of[…]

Businesses lack mental health policies

Three quarters of employers don’t have a workplace mental health policy, research by the Institute of Directors (IoD) and YouGov has found. The survey of 1,150 employees and 586 employers reveals that stress and anxiety affect the productivity of 32% of employees. The research found that: 77% of employers haven’t introduced a mental health policy[…]

Late Filing Penalty Regime For Payroll Real Time Information (RTI)

As you are aware from 6th April 2013 the Government introduced a new way of operating the Pay As You Earn (PAYE) scheme for most employers. The new system is called Real Time Information (RTI). We wrote about the changes in our November 2012 e-shot newsletter, and below is the link to the article This[…]

Compliance costs SMEs

SMEs pay almost £10 billion in tax compliance costs each year, according to research by the Association of Accounting Technicians (AAT). The survey of 500 businesses reveals that the average SME spends £4,376 complying with business taxes each year. Collectively, the SME sector spends £9.9 billion annually on tax compliance. Important findings: SMEs spend up[…]