Accountancy Blog

Employee benefits – what you need to know

A guide for employees on the tax implications of accepting common employee benefits.

Most employers provide a range of benefits in kind to their employees. You may be able to choose which benefits to take up, so you should be aware of the different tax and national insurance (NI) implications of each benefit you pick.

As some benefits, such as cars, are provided over a number of years, you need to know how the associated tax bill may change in the future. More…

Cash flow – how to maximise opportunities

A guide to maintaining a healthy balance between money coming in and out of your business.

If your business does not have a steady stream of money flowing into it, you will be unlikely to be a going concern in 12 months.

On the other hand, every business will have regular costs that they have to pay out. These payments can range from the cost of buying materials to making sure your staff remain sufficiently caffeinated.

A successful business needs to keep the balance between money coming in and money going out weighted on the side of the former. More…

Business rate revalution April 2017

The business rates revaluation took effect on 1 April 2017.

This means that businesses in England and Wales will pay rates that reflect the changes in their local property market.

The government has said that nearly 75% of businesses will see no change or a fall in their bills.

Small business rate relief has permanently doubled as of 1 April 2017. Eligible properties with a rateable value of £12,000 and below will receive 100% relief if the business uses 1 property.

Businesses with a rateable value between £12,000 and £15,000 will also get tapered relief. More…

National living wage

The national living wage (NLW) is now £7.50 an hour.

Most workers who are aged 25 and over and not in their first year of an apprenticeship are entitled to the new rate.

The national minimum wage (NMW) rates for various ages have also increased. More…