Yours 4 A Day
Yours 4 A Day Ltd. The Working Persons Accountant

PAYE Explained

You need to set up a Pay As You Earn (PAYE) system if you have employees, or if you are a limited company (as you are counted as an employee). Make sure you've registered as an employer with HMRC before you set it up.

What is PAYE?

  • PAYE is the system used for deducting tax and National Insurance Contributions (NICs) from your employees' wages to pay to HMRC.
  • You have to deduct income tax for all employees earning more than £7,475 a year in tax year 2010/11.
  • You have to deduct NICs for all employees aged 16 years or over and under state pension age who earn more than £110 a week in tax year 2010/11.
  • You apply PAYE to all wages, all payments made in cash (including expenses payments made in cash) and some benefits in kind 

Staff Profiles

So who are we all?

Jenny- started Yours 4 A Day in 1997 ago with a vision to create a flexible, friendly and personal accounts service to businesses ranging from sole traders to larger limited companies. Jenny is a Fellow Member of the Association of Accounting Technicians (FMAAT). This means that she is fully qualified to attend to your business needs. She has 35 years' experience in accountancy services, 25 years of which have been in a managerial role or as a company director. She is a keen horserider and loves all animals.

Jodie- fully AAT qualified Jodie has 12 years experience in bookkeeping and completes quarterly VAT returns as well as all aspects of client book-keeping. She is also a keen horserider and mum to young son.

A Guide to Auto Enrolment

Automatic Enrolment

What is it?

UK businesses who employ one or more workers have to put them into a pension scheme if they meet certain criteria

Who does this apply to?

You must automatically enrol everyone working for you:

  • who is aged between 22 and state pension age

  • who works in the UK

  • for whom you deduct income tax and National Insurance contributions from their wages
  • who is likely to have a gross earnings over £10,000 per annum

Spring Clean Your Business

The daylight hours are getting longer which means that now is the time to start thinking about how you can do some much-needed business Spring cleaning.

But instead of just papering over the cracks or carrying out some minor cosmetic touch-ups, could this be the year that your Spring clean helps revolutionise the way that you work and add real value to your business?

Change your infrastructure

If you’re starting out running a business, using a spreadsheet can be a cheap way of keeping your figures together. But once a business is established, it may not be the best idea to cling onto spreadsheets.

A service needed by over 4 Million Customers… what is it?

Bookkeeping of   course! “But why?” we often are asked. Well, here is the story.

All businesses in the UK are now required to keep records of their transactions which later are used by an accountant to file for tax and often VAT. Managing these transactions through bookkeeping is often the biggest headache to the small business owner and a task that is left at the bottom of the pile. What’s more, the new government is putting 50,000 new business owners to the test to check that they have their books in good order. But what if they don’t? What if YOU don’t have your bookkeeping up to date? Now there’s a question that can hurt your back pocket to the tune of up to £5,000 a go.

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