We often get asked for SA302’s by clients who are applying for mortgages. An SA302 is an HMRC-generated form with a breakdown of income. An example is shown at the bottom of this post. The unfortunate issue is that the mortgage lenders typically insist on this type of income proof and will not accept a […]
SA302s, mortgages and HMRC Read More »
The Flat Rate VAT Scheme (FRS) is a scheme that allows businesses with a turnover of under £150,000 to pay VAT on a fixed percentage of their gross turnover rather than the amount of VAT received less the amount paid out. This is supposed to reduce beaurocracy as the calculation of the VAT return is
Flat Rate VAT pitfalls……. Read More »
We often get the question from our contractor clients or other small Limited Company clients about whether they have to comply with auto enrolment at all. The answer is not necessarily but they still need to consider their situation and let the Pension Regulator know what they are doing. The first thing to do is
Auto Enrolment – No Employees?? Read More »
With the advent of Auto Enrolment pensions, all Employers are going to become more familiar with the ins and outs of pension tax relief! Unfortunately just to complicate a complicated system even more there are two fundamental ways that the Employee contributions can be calculated. If a worker has agreed to the minimum contribution which
Pensions – Net Pay Arrangement vs Relief At Source Read More »
We often get asked about what an employee or Contractor (who is an employee of a Ltd Company) can claim in the way of expenses while on business travel away from their normal place of work. Firstly it is important to understand if the employee is away from their permanent place of work or at
Contractor and Employee Expenses Read More »
Summer has finally arrived in the Central Belt. And along with press stories of sunburn and ice creams are a number of stories about the Pensions Regulator clamping down on Companies who have not complied with their workplace pension requirements. An example of this is a story in the Herald today Herald Story on Auto
Auto Enrolment – Employers Need To Take Care! Read More »
It’s P11d time of year again and for some businesses this will be the last year that they have to complete them. For small businesses the area of employee expenses has always been one of the least understood and had some of the lowest compliance. Few small business owners are aware that up until April
P11ds, Dispensations and Expenses Read More »
Many of the cloud book keeping services allow you to automatically import bank transactions in to the software. This has the advantage of ensuring the bank always reconciles, reduces data entry and saves time as the better software learns what the repeat transactions are and will code them automatically. Paypal transactions can also be imported
Some of our self employed clients (ie clients who are structured as a sole trader, partnership or LLP) will have noticed that their Class 2 National Insurance Direct Debits have stopped. This is because from the 2015/16 tax year Class 2 National Insurance is being collected through the Self Assessment Return. So far so easy.
Changes to Class 2 National Insurance Read More »
Last year’s Autumn statement contained an announcement which on the face of it wasn’t that exciting but will have a profound impact on our clients. HMRC has had online services for Businesses and Individuals for many years. These are now being migrated into HMRC’s new “Digital Tax Accounts” which will give greater information about the
Digital Tax Accounts and Quarterly Reporting Read More »
Sutherland Black Ltd. is rated 5 out of 5 based on 7 Google reviews.
