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Accountancy and Book Keeping Services Ltd (ABSL)

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Self- employed allowable expenses working from home. 
The most commonly asked question is what proportion of the household expenses I can claim. Check out my blog:
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A bad day for #contractors   and #freelancers  

Budget 2015

Dividend tax hike.

Removal of the NI employment allowance for companies where the sole director is the only employee.

Tax relief to be banned on travel and subsistence expenses for contractors who are supervised, directed and controlled.

IR35 a new review could put personal service companies, i.e. limited company contractors, under scrutiny.

How much is this going to cost you?

Talk to ABSL today
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If you are an ~employer you will be receiving a letter from The Pension Regulator advising you of your pension staging date for your automatic enrolment legal duties.

The position regarding Director only business and #AutomaticEnrolment  

When you receive the letter from the #PensionRegulator   you will need to supply the following information to confirm to The Pensions Regulator that there are only directors in the company, none of whom are workers for the purposes of automatic enrolment and to send an email to the #PensionRegulator   stating the following:
1. I confirm that [company name] is a not an employer for the purposes of automatic enrolment for the following reason – (select one option from the list below):
a)    there is only one director and there are no other staff working for the company
b)    the only people working for the company are directors and none of them has an employment contract
c)     the only people working for the company are directors and only one of them has an employment contract 
d)    the company has ceased trading (including date ceased)
e)    (if there is some other reason why you believe you do not have any automatic enrolment duties, please provide a brief explanation) 
2.  The letter code for the company is: [The letter code is a 10 digit number which can be found on all letters sent from The Pensions Regulator]
3. The PAYE scheme(s) reference is: 
4. The companies house number (where applicable):
5. The name, email address, address and telephone number of contact at the company.
If the company’s circumstances change so that there are at least two people working for the company under contracts of employment (whether directors or other staff) then you will need to inform us of this as soon as possible.

Contact ABSL who can help you with your legal duties in respect of automatic enrolment
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Employers across the UK are now providing a #WorkplacePension   for their staff.

If you employ at least one member of staff, you’ll need to #AutomaticlyEnrol  them into a #Pension   Scheme if they meet certain criteria.

Each employer has a date by which they need to comply with the law. This is called your staging date.

There are a number of tasks that will need to be completed by your staging date, including assessing your workforce to see who’s eligible, choosing a pension scheme, and communicating to staff.

ABSL can help you understand the changes to workplace pension’s law and what you need to do.

We will advise you of your staging date of when you must start the pension scheme

We will help you automatically enrol your workforce and help you understand what you must do for each type of worker under automatic enrolment.
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If you haven't done your #TaxReturn  yet then don't worry there's still time! The deadline for online #SelfAssessment  is January 31st at midnight. If you've been putting it off as you don't understand how to do it then we can help. We're the tax experts so get in touch today and avoid a hefty fine from #HMRC
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The #TaxFree   Personal Allowance is being increased by a further £100 in April 2015, to £10,600
The personal allowance – the amount you earn before you have to start paying income tax – will be increased again from £10,000 to £10,600 in 2015 to 2016.

Children will be #ExemptFromTax   on Economy Flights
This will apply for under 12s on flights from 1 May 2015, and for under 16s from 1 March 2016 – saving an average family of four £26 on a flight to Europe and £142 on one to the US.

Spouses will inherit their partner’s individual saving account (ISA) benefits after death
Currently, if someone passes away they can’t pass on their #ISA   to their spouse, even if they have saved the money together. 150,000 people a year lose out on the tax advantages of their partner’s ISA when their partner passes away.
From 3 December 2014, if an ISA holder dies, they will be able to pass on their ISA benefits to their spouse or civil partner via an additional ISA allowance which they will be able to use from 6 April 2015.
The surviving spouse or civil partner will be allowed to invest as much into their own ISA as their spouse used to have, in addition to their normal annual ISA limit.

No more employer National Insurance contributions (NICs) on #apprentices   under 25 To make it cheaper to employ young people, from April 2016 employers will not have to pay National Insurance contributions (NICs) for all but the highest earning apprentices aged under 25.
This is in addition to the announcement made at Autumn Statement last year that employers won’t have to pay NICs on under 21s from April 2015.
The government is clamping down on #TaxAvoidance   by multinational companies
Currently some large multinational companies divert profits abroad through complicated business structures, such as the so-called ‘double Irish’, in order to avoid paying taxes. The government is introducing a new tax to counter this.
The ‘diverted profits tax’ will apply to a company’s profits that have been diverted from the UK through complex arrangements such as these, and will apply to both UK and foreign multinational companies.
So if a company conducts a lot of activity in the UK – sales, for example - but can avoid paying corporation tax by moving profits generated in the UK to other countries through the manipulation of the international tax rules, the UK will now be able to tax those profits at a rate of 25%.
This will be introduced from April 2015
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Don't leave completing your #TaxReturn   until the last minute. The deadline is 31st January 2015 for #TaxYear  2013-14. If you are self-employed or earn over £100k or more or have investments with pre-tax profits of £10k + or a landlord with buy to let property generating an income of £2,500 or more [after expenses].You will need to file a return. However, if you have not previously registered with HMRC for online services you need to take action now otherwise you could be sailing close to the deadline date and risking penalties.
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Here at ABSL we are the #taxspecialists . We can provide you with year round tax advice.  
If you are struggling with your #personaltaxation , we can help.
Let the professionals take care of your personal tax, our services include:
• Completing your #taxreturn
• Calculating your final tax liability
• Filing the returns on line
As tax advisers, our objective is to work closely with you and make sure tax savings can be made whenever possible.
For more information about our services, please visit our website: or give us a call on 01322 553945.
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Here's a great article from The Guardian on how to use #socialmedia  to boost your brand's online presence. #marketing   #digitalmarketing  
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