The minimum wage has increased with effect from 1st October 2011.  The main rate for adults aged 21 or over has increased by 15p to £6.08 an hour. The rate for teenagers aged 18 to 20 has been increased by 6p to £4.98 an hour,and for 16 and 17-year-olds it has increased by 4p to £3.68 an hour.  The hourly rate for apprentices … Continue reading New Minimum Wages from 1st October 2011 →

The following email has recently been received from our tax specialists: Despite HMRC announcing that they would report on the outcome of the Business Records Check consultation on 31 March, our Consultancy Team has seen the first letters being issued by HMRC, trying to arrange a meeting to carry out a Business Records Check (BRC). … Continue reading Business Record Checks. Contacts From HMRC. →

The recent budget has confirmed that reduced Corporation Tax rates are here to stay in the short to middle term, whilst personal tax rates, including National Insurance, are increasing.  We feel that this is now shifting the balance towards incorporating a business, even taking account of additional costs.  We will be contacting clients directly who … Continue reading How does the Budget 2011 affect your business? →

The increases in penalties for not filing your tax return by the due date are expected to be implemented from April 2011. Currently, penalties are £100 charged in February if the return is not received by the due date, with a further £100 if it is still not submitted six months later.  However, neither of … Continue reading New Penalties for Late Filing from April 2011 →

The Standard Rate of VAT increased on 4th January 2011 from 17.5% to 20%.  There are a number of things to bear in mind: 1. If you are n the flat rate scheme then please check your new rates.  Indications are that the tax office will be targeting taxpayers using the flat rate scheme to ensure that they … Continue reading VAT Increase from January ’11 →