When a bank hits the headlines, it isn’t usually for good reasons. Such is the case for Metro Bank which has found itself the talk of the town. Share prices took a massive dip amid concerns for its future, although the news has improved with a £925m investment package preventing it from collapsing. But, while […]
Tougher measures to address late payments to small businesses have been announced by the Government. In 2022, SMEs were owed, on average, an estimated £22,000 in late payments. This can slow down growth with many companies spending disproportionate time chasing payments that can lead to cash flow problems. Small Business Minister Kevin Hollinrake said: “Small […]
Two million people will receive a pay rise next year when the National Living Wage increases to at least £11 an hour. It means the annual earnings of a full-time worker on the National Living Wage – currently set at £10.42 an hour – will rise by more than £1,000. It will be welcome news […]
Hundreds of thousands of young adults have an average of £2,000 sitting unclaimed in Child Trust Funds. The long-term, tax-free savings accounts were set up for every child born between September 2002 and January 2011, with the Government contributing an initial deposit of at least £250. Funds can be withdrawn once the account matures when […]
A raft of money changes comes into play this month which could affect your finances, and as we are approaching the winter season – dark nights and lower temperatures – these support payments to help with energy costs will be gratefully received. These include adjustments to the Ofgem energy price caps, while the latest Cost […]
1 October 2023 – Due date for Corporation Tax due for the year ended 31 December 2022. 19 October 2023 – PAYE and NIC deductions due for month ended 5 October 2023. (If you pay your tax electronically the due date is 22 October 2023.) 19 October 2023 – Filing deadline for the CIS300 monthly […]
The Economic Crime and Corporate Transparency Bill has completed its initial journey through the House of Commons and the House of Lords and is now at the stage known as, consideration of amendments. This is where the second House’s amendments are considered, and the Bill may go back and forth until both Houses agree on […]
HMRC offers an online service to check your National Insurance Contributions (NIC) record online. In order to use the service, you will need to have a Government Gateway account. If you don't have an account, you can apply to set one up online. By signing in to the 'Check your National Insurance record' service you […]
There is a benefit-in-kind (BiK) trivial exemption that applies to small non-cash benefits like a bottle of wine, or a bouquet of flowers given occasionally to employees, or any other BiK classed as 'trivial' that falls within the exemption. By taking advantage of the exemption employers can simplify the treatment of BiKs whilst at the […]