Numbers - Accounting and Bookkeeping

13/06/2023

No tax is payable on income from dividends that falls within the shareholder’s annual Personal Allowance (£12,570 for 2023/24 tax year). Additionally, all shareholders are entitled to a £1,000 dividend allowance each year.

Beyond these allowances, tax on dividends is determined by the individual’s Income Tax band and charged at the following rates:

8.75% (basic rate tax band) – annual income up to £50,270
33.75% (higher rate tax band) – annual income between £50,271 and £125,140
39.35% (additional rate tax band) – annual income above £125,140

24/12/2022

Craciun Fericit tuturor!
Merry Christmas!

29/11/2022

Don't forget about your Tax Return!

30/09/2022

ATENTIE la fraudele cu VAT pentru LTD si self employed!

Au aparut foarte multi care promit aceste rambursari de VAT in numele firmelor...frauda este pedepsita prin lege si persoana responsabila este The Director (Administratorul societatii).

What is VAT Repayment Fraud?
False claims to VAT refunds are a form of VAT fraud, where a business submits VAT returns claiming a net repayment of VAT on the basis of, for example, zero rated exports supported by false export documents or certificates of shipment. The goods themselves remain in the UK and are sold at a VAT inclusive price, usually for cash and unrecorded in both the vendor and purchaser’s business records. They may also be sold under cover of false sales invoices to dupe prospective buyers as to the authenticity of the transaction, but also to add further VAT to the profit.

06/07/2022

From today around 70% of workers will pay less National Insurance (if you earn £36,600 or under) – saving a typical employee up to £330 a year.

This means you can earn £12,570 a year completely tax-free.

19/06/2022

Making Tax Digital is mandatory for VAT-registered businesses from 1 April 2022.

The requirement to keep digital accounting records and use MTD VAT compatible software to submit VAT returns was extended to all VAT registered businesses from 1 April 2022.

14/05/2022

Time to file your taxes!

23/03/2022

From April‌‌‌ ‌‌2022, self-employed individuals with profits between the Small Profits Threshold (SPT) and the Lower Profit Limit will not pay Class 2 NICs, while allowing individuals to be able to continue to build National Insurance credits

02/03/2022

The National Minimum Wage and National Living Wage rates will increase on 1‌‌ ‌April!

22/09/2021

The furlough scheme, which protected millions of jobs during the pandemic, is entering its final weeks.

What will happen to me if I am on furlough?

Employers will need to decide whether to take back their furloughed workers or make them redundant.

In most cases, an employer should have already started the redundancy process if it's planning to let workers go by 30 September.

26/05/2021

https://www.accountancyage.com/2021/05/25/hmrcs-mini-umbrella-company-fraud-crackdown-sees-similar-approach-to-ir35/

Possible legislation would be like “trying to close a paper door against a herd of wild elephants”