Companies may be taking on temporary staff over the festive season to help the cope with “Christmas Rush”, it should be noted that auto enrolment applies to these employees in the same way as permanent employees, even though they will be only working for a short time. It is however possible to apply postponement to temporary employees, which has the effect of delaying some of the auto enrolment duties, however there is a warning from The Pensions Regulator this process must be dealt with correctly!
Please contact us to discuss should you need more information.
Philip Hammonds first Autumn Budget reported on an economy that "continues to grow, continues to create more jobs than ever before and continues to confound those who seek to talk it down". It was light on tax content, but with some significant announcements.
We have highlighted below some of the main headlines:
Research and Development
An additional £2.3bn will be made available to fund an increase in the research and development tax credit to 12%. This will take effect from 1 January 2018.
Some interesting thoughts from Debbie Mirisch, founder of Australian firm Biz Synergy about the way that the bookkeeping industry is changing and the importance of empathy with our clients, something that has always been central to the service we offer at Yours 4 A Day.
I was recently asked, ‘What makes a good bookkeeper?’ And while many answers came to mind, at the top of the list was empathy. I definitely wouldn’t have said that 25 years ago when I started out as an accountant – or even five years ago when I switched to bookkeeping.
The rise in how much human values matter runs concurrent with the degree of in-depth data that’s available to us on cloud accounting platforms like Xero.
If you or your spouse/partner claim child benefit, and at least one of you has adjusted net income of £50,000 or more for the year, the highest earner must declare the benefit on their tax return in order to pay back part or all of the child benefit as a tax charge.
HMRC is writing to taxpayers who it thinks should have paid the child benefit tax charge for 2013/14, but didn't. Unfortunately some people who have received such letters are childless, or haven't claimed child benefit for decades.
If you have received one of those letters by mistake, don't ignore it. HMRC can alter your tax return to collect the tax it thinks is due. You need to reject any such incorrect alteration to your tax assessment within 30 days, but we can help you do this.