Sorry. You need to upgrade your browser

You are using Internet Explorer 8

This is considered an out of date browser. This website has been developed with modern browsers in mind to allow it to display at its best in a wide variety of viewing situations - including mobile viewing. But we haven't supported older browsers like IE8. Please upgrade to the latest version of Internet Explorer - or try Mozilla Firefox or Google Chrome. Both are excellent browsers.

Thank you.

Chartered Certified Accountants
and Business Advisors

01530 267320

Latest news

04 May 2018

Proposal to extend pension auto enrolment to younger workers

There has been an announcement to extend pensions auto enrolment to young workers and to amend the way the contributions are calculated. Under auto enrolment, employers are required to automatically enrol all eligible workers (generally employees) into a workplace pension scheme and pay a minimum contribution into their pension. However ... (click to read more)

04 May 2018

New Student loan limits

If you are an employer, you need to be aware that the earnings thresholds at which you are required to make deductions from an employee’s pay if they have a student loan have increased from 6 April 2018. The new annual thresholds changes from: £17,775 to £18,330 for Plan 1 loans £21,000 ... (click to read more)

30 Apr 2018

Company tax on directors' loans

A director of a Company is called a ‘participator’. HMRC taxes loan arrangements between participators and their companies under S.445 of the Corporation Taxes Act 2010. It states that where a participator owes money to the company, the company must pay tax of 32.5% of the debt as it ... (click to read more)

30 Apr 2018

What HMRC says about the 'not so simple' taxation of Bitcoin

HMRC’s opinion on cryptocurrencies is given here. This covers VAT, corporation, income and capital gains taxes. Cryptocurrencies are a new and evolving area and they have a unique identity and cannot be directly compared to any other form of investment activity or payment mechanism. This means the tax position ... (click to read more)

30 Apr 2018

The Chancellor's Spring Plan - Tax-efficient training

Tax relief on training costs was one of the interesting consultations that relates to current rules favouring employees especially where their employer meets the cost. The good news is that the government wants to widen tax relief for training costs that add entirely new skills to a persons repertoire. ... (click to read more)

16 Apr 2018

Who are 'persons with significant control' ?

Every year Companies House require you to file a ‘CS01’ (confirmation statement). For companies and LLPs with individual shareholders, identifying the PSC should be straightforward, as they will largely be the shareholders of the company however; a person with significant control can be someone who: Directly or indirectly ... (click to read more)

16 Apr 2018

Is your HMRC communication genuine?

At Sence, we are regularly asked how business owners can tell if they have received a genuine communication from HMRC. The amount of scam / phishing emails and texts has increased significantly in recent years. With this in mind, HMRC have issued an update of their guidance on how ... (click to read more)

16 Apr 2018

Need help with your tax bill?

Contact HM Revenue and Customs (HMRC) as soon as possible if you can’t pay all your tax on time. You may be able to either: get more time to pay pay your bill in instalments but you may have to pay interest if you pay late. You could avoid penalties by contacting ... (click to read more)

11 Apr 2018

New Auto-enrolment contribution rates

The rate of pension contributions for employees more than doubles from 6 April 2018. A further increase will apply from April 2019. The current and future rates of contribution are shown in the table below: Date Employer minimum contribution Total minimum contribution Up to 5 April 2018 1% of pay 2% of pay From 6 April ... (click to read more)

09 Apr 2018

HMRC changes tax-free fuel rates

HMRC have updated its advisory fuel rates from 1 March 2018 onwards. The rates don’t reflect current pump prices, but are worked out using an average for the previous quarter. The table below shows the advisory fuel rates from 1 March 2018 and those for the previous quarter in brackets: Engine ... (click to read more)

09 Apr 2018

Gender pay gap reporting

The gender pay gap shows the difference in pay between all men and women in a workforce. If a workforce has a particularly high gender pay gap, this can indicate there may be a number of issues to deal with, and the individual calculations may help to identify what ... (click to read more)

27 Mar 2018

The Tax Charge

The annual tax on enveloped dwellings (ATED) is for UK properties only and is a sliding scale starting for property worth more than £500,000. It has been introduced to counter the tax advantages obtained by operating rental properties through a limited company and a partnership. The minimum charge is ... (click to read more)

07 Mar 2018

Staging is Complete

Auto-enrolment staging is now completed from February 2018. Since October 2017 an overlap with new employers having immediate “duties start dates” as soon as the first employee is notified on the full payment submission, whilst at the same time employers who were in business by 30 September 2017 having ... (click to read more)

06 Mar 2018

Alignment of the tax and NI treatment for termination payments in excess of 30k has been delayed

Changes were due to take effect from 6 April 2018 including the following: Tightening of rules that exempt payments made in respect of suffering injury or disability Treating all payments in lieu of notice as fully taxable and subject to NI Treating ex gratia payments in excess of the £30,000 partial exemption ... (click to read more)

Click here to view the news archive

Latest news

Proposal to extend pension auto enrolment to younger workers

There has been an announcement to extend pensions auto enrolment to young workers and to amend the way the contributions...

Click to read more >

New Student loan limits

If you are an employer, you need to be aware that the earnings thresholds at which you are required to make deductions f...

Click to read more >

What HMRC says about the 'not so simple' taxation of Bitcoin

HMRC’s opinion on cryptocurrencies is given here. This covers VAT, corporation, income and capital gains taxes. Crypto...

Click to read more >

The Chancellor's Spring Plan - Tax-efficient training

Tax relief on training costs was one of the interesting consultations that relates to current rules favouring employees ...

Click to read more >

How can we help?

 

Submit

Testimonial

Jake's support has been essential.

Carol Brookes
Able 2 Consulting LImited

Click to read the full testimonial >