Monthly Archives September 2017

Starting Up – books for new businesses

  When you are starting up a business there’s a lot you need to know. Our books have been written to give you all the information you need in an easy-to-follow format that will set you off on the right foot and keep your business fully compliant with all the regulations that affect it. Both are available on Amazon for just £25.00.   Setting Up Your Limited Company A step-by-step guide to financial success and compliance This book is for directors of limited companies and covers: Incorporating a limited company Setting up a bank account Responsibilities and deadlines Paying directors and shareholders
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Self Assessment deadline looming

This is the first year that the Dividend Tax will need to be taken into account on your tax return – you might remember all about this if you attended our special seminar on the subject back in 2016 (if not, you can catch up with our seminar videos online). If the issue of being more stringently taxed on your dividends has slipped your mind, you might not have been putting aside money to meet your extra tax obligation. This is one reason why we’re strongly advising all our clients who pay themselves dividends from their business or receive dividends
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Auto Enrolment for new employers

Under pensions auto enrolment employers have to enrol qualifying employees into a workplace pension. Duties include paying contributions for the employee. The process of auto enrolment has been phased in from October 2012 when the largest employers had to comply with the rules. However the rules are set to change and new employers will have to comply with their automatic enrolment legal duties, as soon as they employ their first member of staff. TPR guidance to advisers states: ‘If your client becomes an employer for the first time on or after 1 October 2017, they will immediately have legal duties
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Pensions Auto Enrolment compliance

The Pensions Regulator (TPR) has begun carrying out employer spot checks to make sure employers are complying with their automatic enrolment duties and that they are giving their staff the workplace pensions they’re entitled to. According to the TPR these inspections help them to understand any challenges employers are facing, and whether TPR need to make any changes to their guidance. This also enables them to identify employers who fail to meet their duties, and take enforcement action where necessary. TPR have confirmed that they will continue with their checks over the coming months generally sending a statutory notice to
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HMRC online forum and webchat

HMRC have announced the introduction of a new online tax forum and webchat service for small businesses. HMRC are advising that the new service called the Small Business Online Forum offers advice on tax matters as well as help with: Starting a business Support for growing a business – including taking on employees and expanding Buying and selling abroad Completing tax returns Tax credits. Please contact us for specific tailored advice on any of these matters. Internet link: https://online.hmrc.gov.uk/webchatprod/community/forums/list.page
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GDPR: Get ready for the new data protection rules

The government is to introduce new data protection rules under the General Data Protection Regulation (GDPR) which takes effect from 25 May 2018. Under the GDPR businesses will have increased obligations to safeguard the personal information of individuals which is stored by the business. These rules apply to the information of customers, suppliers or employees. Generally for those who are currently caught by the Data Protection Act it is likely that you will have to comply with the GDPR. GDPR will apply to data ‘controllers’ and ‘processors.’ Processing is about the more technical end of operations, like storing, retrieving and
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