How much do I have to earn to declare my income to HMRC? Good news if you earn £1,000 or less from an income source, not only do you not have to pay income tax on it, you also do not need to declare it to HMRC! If you do earn more although you will…
Read MoreYear: 2017
Trivial expenses are not so trivial…
Did you know that as an employer, you can now provide trivial benefits such as a bunch of flowers, a box of chocolates, a meal out, gift voucher etc without having to put it on the P11D and without any tax or national insurance for either employer or employee. The employer will also be entitled…
Read More31 January 2018 Tax Deadline
31 Jan is nearly here! It’s the tax deadline but have no fear! If you need a really good accountant give LeeP a try. We keep our prices fixed, we are not sly. So go ahead and be merry Enjoy your turkey and even a sherry Rest assured your accounts are in good hands So…
Read MoreWhat’s New In The Autumn Budget?
In Summary, the Autumn Budget today impacts your business and personal finances in the following ways: Stamp Duty has been abolished for all new home purchases costing £300,000 or less. This means a potential saving of £3,500 compared to the old stamp duty of 2% on homes costing more than £125,000. This means that if…
Read MoreChristmas party tax tip
If you’re having a Christmas party (or any other annual event) there is an exemption of up to £150/pp you can spend and it’s all tax free! The conditions The total cost must not exceed £150 per head, per year. £150 includes VAT together with any extra costs such as transport and accommodation. The £150…
Read MoreTips On Managing The Interest Rate Increase
A recent survey conducted by the MAS revealed that 18% of all home owners with mortgages didn’t realise that an increase in the bank of England interest rate might mean an increase in their mortgage repayments. With the recent 0.25% increase in the Bank of England (BoE) Interest rate coupled with further increases expected, what…
Read More