Special Budget blog 2014: Increase in the Annual Investment Allowance

The chancellor pleased many businesses in April with his announcement that the temporary increase in the annual investment allowance (AIA) is to be extended for a further year to 31 December 2015. From the 1st April 2014 the maximum amount … Continue reading

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PAYE – Week 53 payments

Employers and employees that are paid weekly, bi-weekly or four weekly and whose final payday of the 2013-14 tax year falls on 5 April 2014 are reminded that there is a possibility that they may underpay tax for the current … Continue reading

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Employment Allowance: up to £2,000 off your Class 1 NICs

From April 2014 most businesses, charities and community amateur sports clubs (CASCs) will be entitled to an annual ‘employment allowance’ of up to £2,000 to reduce their liability for employer’s Class 1 Employer National Insurance Contributions (NICs). HMRC have said this … Continue reading

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Should I take a salary?

When a company is starting out it needs all the money it can get and if you’re one of the owners you might be dipping into your own resources to fund the business. So the idea of taking a salary … Continue reading

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Pension tax relief

The government has said it will scrap existing plans to reduce tax relief on pension premiums, but what will replace these and how might it affect you? The scrapping of the plans for reducing the tax relief that high earners … Continue reading

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