One of the Midlands’ leading firms of accountants, Salhan Accountants, has criticised the Chancellor’s Spring Statement for failing to deliver anything meaningful to small businesses. Salhan Accountants said that few businesses expected Philip Hammond to pull any rabbits out of his hat, but that the lack of any assistance to small businesses was disappointing against… Read more…
New research suggests that the UK’s SMEs could benefit to the tune of as much as £57 billion over the next five years because of digital productivity improvements associated with HM Revenue & Customs’ (HMRC) Making Tax Digital (MTD) initiative. The report by research firm, Volterra Partners, anticipates a ‘digital snowball’ effect from the launch… Read more…
While 93.68 per cent of the 11.5 million taxpayers who were required to file their Self-Assessment Tax Returns by midnight on 31 January did so on time, 731,186 missed the deadline. Those who missed the deadline will have to wait longer than in previous years to receive penalty notifications from HM Revenue & Customs (HMRC).… Read more…
New advisory fuel rates from 1 March 2019 for drivers of company cars have fallen for all but one class of vehicle. The rates apply where a business is reimbursing employees for travel in a company car, or where employees must repay the cost of fuel used when travelling in a company car in a… Read more…
Getting married or conducting a civil partnership ceremony is often the happiest day of most people’s lives but unfortunately almost one million married or civil partnered couples in the UK have not used up to £900 in tax relief available to them. The Marriage Allowance scheme currently allows couples to transfer up to £1,190 of… Read more…
In a landmark case, Middlesbrough FC has effectively won the right to pay staff below the minimum wage by providing other benefits to them. In February, an employment tribunal at Teesside Magistrates’ Court overturned a ruling that the Championship football club had broken employment laws by deducting the cost of 2016/17 season tickets over several… Read more…
Hundreds of businesses across the UK enjoy tax relief totalling millions of pounds thanks to the Government’s generous R&D relief scheme. Last year nearly 40,000 claims were made for Research and Development (R&D) tax credits in the UK, almost double the amount made in the previous year. Businesses both large and small benefited from £3.5… Read more…
From 1 April 2019, employers will be required by law to pay their employees the following minimum wages: Year 25 and over (National Living Wage) 21 to 24 18 to 20 Under 18 Apprentice Current rate £7.83 £7.38 £5.90 £4.20 £3.70 April 2019 £8.21 £7.70 £6.15 £4.35 £3.90 It is thought that this increase in… Read more…
Award-winning accountancy firm and haulage specialists, Salhan Accountants, is encouraging businesses in the sector to conduct a thorough review of their financial pinch points ahead of the UK’s departure from the EU. With the prospect of a no deal Brexit growing, Salhan Accountants is worried that some hauliers and logistics firms may be too exposed… Read more…
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