Jun 21 2016 P11Ds Categories: EQ AccountingPayroll All employers should remember the filing date for P11D returns with HM Revenue and Customs is 6 July 2016. P11D returns are normally needed where employees earning over £8,500 per year (including value of the benefits), or any company directors, receive any benefits or expenses payments from their employer. For employees earning less than £8,500, more
May 29 2016 Land and Buildings Transaction Tax Levy Categories: Taxation Are you considering purchasing a second property as a buy-to-let or as a second home? If so then you may be liable to a new 3% levy on the purchase price of the property which comes into effect from 1 April 2016. In Scotland, Land and Buildings Transaction Tax (LBTT) replaced UK Stamp Duty Land more
May 25 2016 Significant Changes to the Taxation of Residential Property Categories: Taxation Individuals who own and let property are facing significant changes to the way in which their rental income is taxed and also to the deductions they can make from their rents. There are new increases in certain allowances and additional surcharges due on the purchase of second homes so we would advise you to review more
May 17 2016 Long term solutions or sticking plasters? Categories: Taxation Chancellor, George Osborne, delivered his latest Budget on 16 March in the midst of some uncertainty in the global marketplace. He adopted a bullish stance to illustrate the government’s track record to date and signalled his intentions for the rest of the Parliament. His “vote grabbing” measures included a proposed drop in corporation tax to more
Mar 9 2016 National living wage Categories: EQ AccountingPayroll The new national living wage will come into effect on 1 April 2016 for workers aged 25 and over, to be paid a minimum of £7.20 per hour. The National Minimum Wage will continue to apply for those aged 21 to 24. In Scotland there is also a voluntary rate of £8.25 for all workers more
Mar 1 2016 Annual Post Budget Analysis 2016, 1st March 2016 Categories: Taxation Tax is an increasing burden on many individuals and businesses and good tax planning must form part of your own cost management. With that in mind, we are holding our Annual Post Budget Analysis on Friday 18 March 2016. To reserve your place please email christine.sewell@eqaccountants.co.uk indicating which venue you would like to attend:- Rothes more
Feb 11 2016 Personal allowance 2016/17 Categories: EQ AccountingPayroll The basic personal allowance for 2016/17 is £11,000. This means that the starting point for PAYE will be £211.54 per week (£916.67 per month) and the new emergency tax code will be 1100L.
Feb 11 2016 Payroll Year end 2015/16 Categories: EQ AccountingPayroll With April fast approaching, time should be taken to familiarise yourself with Year End filing procedures and deadlines. HM Revenue & Customs have produced this step-by-step guide to follow. Please follow this link www.gov.uk/payroll-annual-reporting. To ensure compliance with the latest HM Revenue & Customs requirements, please contact Lynne Vaughan or Jane Russell on 01382 312140.