What to do when a new Employee starts

There have been a lot of rule changes recently on what to do when a new employee starts so here is an update on important issues.   Data Collection You are now obliged to collect the following information for ALL new employees – even casual workers; if this information...

Surplus Cash in Your Company

HMRC have given us an insight into how they would consider cash surpluses within a company following official responses to articles written on the subject. Inheritance Tax On the death of a Shareholder, shares in a small or family trading company are usually considered to be business assets and...

What is a Budget? What is a Business Plan?

A Budget A budget is a fixed limit on spending.  You know you can not afford more so you fix yourself a budget. If your income is fixed e.g. when you are on a fixed salary, then budgeting is very important.  This is when you apportion your income into...

What can the Taxman do if I don’t do my Tax Return?

1/ You have an obligation to tell the taxman when your circumstances change so he can decide whether to ask you to prepare a tax return. For example, you may have: * Started your own business * Untaxed income from property or investments * Expenses to claim (you need...

Limelight’s 21st Birthday Party!

Limelight is turning 21 on 21st June 2014 and we would love you all to come along to our Haslemere branch in Weyhill to help us celebrate with drinks & nibbles!

Who is an Entrepreneur? Answer: Anyone who is Self- Employed!

The number of times I have heard someone say “I am a Sole Trader but I am not in business” is unbelievable!  Trade Unions are even saying it now too!  They claim that all these people are Self-Employed but are not Entrepreneurs – why not? So what makes someone...

Capital Gains Tax on your Principal Private Residence

When you sell your home (principal private residence) then there is no tax on the sale proceeds, but life in not always that simple.  What happens if it has not always been your home? The tax man will seek to tax a proportion of the gain you make based...

Classic Cars as Company Cars

For tax purposes a classic car is any car over 15 years old with a current value of more than £15,000 but whose list price was less than £15,000.  Usual company car rules tax you on a value based on list price and emissions. If you have a company...

Rights for Working Mums

All mothers deserve a little pampering, but not just on Mothering Sunday And what does the working Mum deserve? The government has given pregnant Mums certain Maternity rights as to pay and leave. An adoptive parent has similar rights, but unfortunately at present a surrogate parent has no rights...