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National Insurance: £2000 employment allowance

From April 6th 2014, every business, charity and Community Amateur Sports Club (CASC) will be entitled to an annual “employment allowance” of £2000 to reduce their liability for Class 1 secondary National Insurance Contributions (NICs).  The allowance aims to reduce the barriers faced by small businesses, charities and CASCs, that wish to grow by supporting them with the costs of employment. 

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What is employee shareholder status?

Employee shareholder is an employment status that became available in September 2013.  A shareholder is someone who works under an employee shareholder employment contract.  Your company must give, or as an employee shareholder you must receive shares in the employer’s company or employee’s parent company. 

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Top tips for newly self employed

There are many things to consider when you become self employed.  Here are some of the most important things that we think you need to consider. 

Self Assessment Tax Returns

Every self employed person is required to complete a yearly self assessment tax return, this can sometimes be a daunting task with a strict deadline to meet. 

Outsourcing

When you become self employed, you quickly become all aspects of a business; HR, accounting, Marketing, Sales, logistics and everything else that is required to run a successful business.  Undoubtedly, this is time consuming, and you might find yourself spending more time than you would ideally like to spend on administrative tasks.  Outsourcing is the best way to ensure that these tasks get done, whilst freeing your time to do what you do best. 

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Tax Saving Tips

Everyone wants to save tax.  There are some complicated tax saving schemes available, but some of the ways to save tax are simple.  By going through your financial affairs the least you will find is that your financial affairs are in order, or you might be surprised to discover that you are missing out on cash that at present is being kept by HMRC.  Here are a few simple ways that you can save tax. 

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