Latest news releases and FAQs

News and useful information on tax and business issues.

Flat Rate VAT pitfalls…….

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

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Auto Enrolment – No Employees??

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

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Pensions – Net Pay Arrangement vs Relief At Source

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

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Contractor and Employee Expenses

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

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Auto Enrolment – Employers Need To Take Care!

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

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P11ds, Dispensations and Expenses

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

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