Cash & Currency

When you obtain goods or services from a third party then you usually exchange those goods or services with the vendor for something that person deems of be of similar/acceptable value.  If you do not “pay” then there has been a gift or a theft. In modern times the...

General Election

The general election is being held on 8th June so look out for a new budget shortly thereafter. But the big news is the cuts. Following previous announcements, a big Finance bill had been drafted, for approval over the Summer, to bring in a lot of the associated new...

Hog – Percy The Blue Boar

You may have seen a blue fibreglass pig outside our Haslemere office recently – The Blue Boar.  This is our contribution to the Haslemere town promotion –  Haslemere Hogs 60 Hogs have been commissioned by Haslemere town as a promotion exercise.  They have been decorated by local artists, some...

Auto Enrolment Pensions – How They Work

There has been a lot of information recently about the need for an employer to have a new compulsory Auto Enrolment Pension Scheme but not much about how they work.   What is an Auto Enrolment Scheme? The government have made it compulsory for every employer with ordinary employees...

The VAT Flat Rate Scheme is not dead

History The VAT Flat Rate Scheme as introduced 12 years ago to make life easier for small businesses and the inspectors who had to cope with their bad bookkeeping   The Scheme as it was Under the Flat Rate Scheme you did not need to look as purchases. You...

Spring Budget 2015 – Highlights

The pre-election, 2015 Spring budget has announced lots of new projects for the future and extended some already announced, here are the highlights. There is a lot on Personal Tax             Abolition of Personal Tax Return HMRC plans to abolish Personal Tax Returns by 2020.  They...

How long do you need to keep records for?

Insurance companies have now set up a database to retain records of employer’s liability insurance for the requisite 40 years to remove that burden from the employer.  They have been sending out requests for PAYE reference numbers to populate this record.  Employer’s liability insurance is only compulsory for employees...

New EU VAT rules from 1st January 2015 – The MOSS Scheme

From 1st January 2015 VAT rules are changing for the supply of Digital Services to the public. Digital Services has been defined as covering but not being restricted to Broadcasting, Telecommunications & E-services; specifically including: 1. Supply of TV or radio programs. 2. Sending or receiving signals by wire,...

Personal Tax Returns

Personal Tax Returns   A Personal Tax Return is the standard method by which HMRC check that you have paid the correct income tax, collect any extra tax or pay refunds. In this country not everyone gets a Return to complete, as most people pay their taxes exclusively via...

Child Benefit Clawback

Back in 2012 HMRC decided to introduce a new stealth tax.  The target was high earning parents, in particular single income families, from 7th January 2013. Every parent is entitled to child benefit.  If either parent earns over £50,000 then some of this child benefit is now refundable.   The...