How does auto enrolment work?

Posted on Posted in Payroll & Pension

Ever since I heard about the penalties associated with Auto Enrolment of Workplace Pensions, I was a bit worried about my client base. Back in December 2014, I prepared a simple spreadsheet listing all my payroll clients. Added a column next to it to write down the letter code and the third column to write down […]

What to do with Form C79?

Posted on Posted in VAT

It was a Monday morning and surprisingly M25 was not that busy. My commute from Sidcup to Colnbrook was not bad as the door to door journey was around 1 hour 12 minutes. Anyway, I am lucky that I don’t travel this much every day but, I will be travelling to Colnbrook until February as […]

VAT on Discounted Sales

Posted on Posted in VAT

G Ltd. offers a discount of 10% to its customers who make the payments within 30 days of the invoice. Question: G Ltd. has made a sale of £4500 plus VAT to a customer G Ltd. Should G Ltd. pay output VAT on full £4500 or on the price after discount offer. Answer: After the […]

Dividend Tax: Changes from 2016-17

Posted on Posted in Uncategorized

Changes in Dividend tax with effect from 06.04.2016 means, increase in tax on dividend income.   What are the changes then? The notional 10% tax credit on dividends will be abolished. What does it mean? It means, the Dividend income will not be grossed up while preparing the SA Tax return for the individual receiving […]

Shall I invest in a buy to let property as an individual or through a limited company?

Posted on Posted in Income & Tax thereon

A number of changes are being introduced the way the finance costs will be deductible from tax year 2017-18. There are lot of complications involved with the calculation of tax payable on property rental income.   Following are the main changes.   Finance costs (i.e. mortgage arrangement fees, mortgage interest) will not be available as […]