You may already be aware that businesses are required to register for VAT with HMRC once their earnings pass a certain threshold. Sounds simple, right? When you reach a certain level of income, it’s time to register. Where it gets a little more complicated is choosing which VAT Accounting scheme to register under. The VAT […]
Category Archives: Lifestyle
Breakground, Build, Expand, Lifestyle
Should you buy a company car, or claim the mileage from a personal car?
26
Mar
Mar
Let’s start by being honest – we’re all looking for ways to save us a little bit of that nasty tax bill at the end of the year! One very effective way to do so is with cars! But the big question is; should you buy a company car, or claim the mileage from a […]
Breakground, Build, Expand, Lifestyle
Increase to National Minimum Wage & National Living Wage for 21/22
25
Mar
Mar
Under the minimum wage legislation, workers must be paid at least the statutory minimum wage for their age. There are two types of minimum wage, the National Living Wage (NLW) and the National Minimum Wage (NMW). From 1 April 2021, as well as the usual annual increases, the age threshold for the National Living Wage […]
19
Mar
Mar
Each year Companies House ask you to confirm that the information they hold on record for you is correct – via the filing of the Confirmation Statement. Whilst it’s a fairly simple form to complete and submit – it’s yet another task on your never ending to do list, and if you don’t file it […]
19
Mar
Mar
You wouldn’t build a house without solid foundations, and similarly you can’t do a set of accounts without good bookkeeping. Bookkeeping really is the foundation of your finances. Get this bit nailed and everything else flows from there. Here’s the definition of bookkeeping: Bookkeeping is ensuring that transactions – the ins (sales) and outs (purchases) […]
19
Mar
Mar
As the shareholder and director of your limited company you will usually also be employed, and take a salary from the business using PAYE (Pay As You Earn). To do this you’ll need to run payroll, and file a return to HMRC each month. Depending on your circumstances, and if you have other income sources, […]
19
Mar
Mar
VAT, such a simple word (or abbreviation if you want to be picky), but such a complex area of tax! Once you hit the sales threshold (currently £85,000) in any rolling 12 months (so not the calendar year/your financial year/the tax year) you’ll need to register for VAT. Once registered you’ll need to charge VAT […]
15
Mar
Mar
As a director of your limited company you’ll need to file a tax return each year to declare your salary and dividends. Along with any other income (like rental property, investments etc) and things like your student loan repayments and the Child Benefit High Charge if applicable. We know it’s a chore that often gets […]
12
Mar
Mar
At Pink Pig Financials we understand that tax is a little word with big implications. That’s why we work hard to give you the best possible advice and strategies to make tax altogether less taxing. A tax investigation could cost you money even if you’ve done nothing wrong. HMRC are using sophisticated software to target […]
Breakground, Build, Expand, Lifestyle, Services
Our Year End Accounts and Corporation Tax Return Service
12
Mar
Mar
At PPF we’re a big believer of not just looking at your numbers at year end so we’ve turned the Year End Accounts on it’s head and renamed them All Year Round Accounting! We love to see businesses flourish; business growth is synonymous with business success and we can guide your established enterprise towards credible […]