What are approved mileage payments

May 02, 2017

Mileage Allowance Payments (MAPs) are the rates used by employers to reimburse employees when they use their own transport for business purposes. The current rates are well-known. They are:

  • Cars…

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Tax Diary May/June 2017

May 02, 2017

1 May 2017 - Due date for Corporation Tax due for the year ended 31 July 2016.

19 May 2017 - PAYE and NIC deductions due for month ended 5 May 2017. (If you pay your tax electronically the due…

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A note for driving instructor clients E and learner drivers

Apr 27, 2017

The Driver & Vehicle Standards Agency has released its response to a consultation with the industry to “Improve the car driving test”. In their conclusion they say:

“This paper reports the outcome…

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New accounts filing regulations for smaller companies

Apr 25, 2017

Companies house recently published the following news story.

Changes to UK company law removed the option for small companies to file abbreviated accounts for accounting periods starting on…

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What are your responsibilities to pay the National Minimum Wage

Apr 20, 2017

The current state defined wage rates are divided between the National Living Wage (NLW) – this is currently set at £7.50 per hour and only applies to workers aged 25 years and over – and the NMW for…

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Tax free capital gains

Apr 19, 2017

Is there such a thing as a tax-free capital gain? In fact, there is… Every UK resident tax payer is allowed to make tax-free gains of up to £11,300 during the current tax year, 2017-18.

Additionally,…

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Is the State Pension taxable

Apr 17, 2017

Short answer, yes it is…

The State Pension is worth between £6,359.60 (the old version), and £8,296.60 (the new version), and many pensioners may receive additional payments based on additional…

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Utilising tax losses

Apr 11, 2017

We have listed below a few of the ways you can make best use of tax losses. Generally speaking, a tax loss arises when a claim for expenses and other allowances (for example capital allowances for equipment…

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Will the new one pound coin affect your business

Apr 06, 2017

The new, 12 sided coin became legal tender from 27 March 2017. Businesses that deal in cash transactions, or use equipment that accepts the £1 coin should take note of the following:

The 28…

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