More than two-thirds of employees do not realise that the minimum amounts they need to save into their workplace pension are set to increase, a survey has found. Scottish Widows found 68% of people are unaware that the minimum contributions under automatic enrolment will increase over the coming years. Under the auto-enrolment scheme, employees contribute […]
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As part of Making Tax Digital, HMRC has set out the priorities for its plans to make near real time adjustments to taxpayers’ tax codes so they pay the right amount of tax within the current tax year HMRC plans to introduce these changes in time for the 2017-18 tax year. The PAYE system is […]
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What are your ongoing duties as an employer? Every time you pay your employees, you should do the following: Monitor Earnings and Ages of Staff You’ve Employed If you have employees under you, it is important to check their age, earnings and also, if you must add anyone to your pension scheme. If you do […]
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Self-Assessment is a system used by the HMRC to collect income tax from sources where it hasn’t been automatically deducted, such as self-employment and rental income, etc. If you need to file a self-assessed tax return, you should submit it at the end of the tax year on 5 April. You should be filing a self-assessed […]
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Setting up as a sole trader is without doubt the simplest way to start a business. All you need to do is inform HMRC that you are working as ‘self employed’, and account for your business activities through the annual self assessment tax process. Starting up in business as a limited company involves a more complex […]
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Gervis provide a comprehensive Will writing service which includes taking your instructions, preparing your Will and safe storage thereof. We also administer the preparation and administration of Lasting Powers of Attorney. Upon the death of someone an executor is appointed to deal with the estate of the deceased in accordance with their wishes. The role of the […]
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Half of UK’s mortgage holders have no life cover, 80% don’t have critical illness cover Critical illness cover, also known as critical illness insurance, is a long-term insurance policy to cover specific serious illnesses listed within a policy. Should the worst happen, it gives a tax-free ‘lump sum’ – a one-off payment, to help pay […]
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We all need to keep financial records for various reasons. If you fill in a tax return, VAT return or claim benefits or tax credits, there are some special rules. Here we tell you about: • how keeping accurate records helps you • why you need to keep records • the records you need to […]
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The first ever fixed-rate mortgage charging less than 1pc goes on offer today as lenders ready themselves for fallout from Thursday’s poll. The deal, a two-year fixed rate at 0.99pc from HSBC, flies in the face of earlier suggestions that loan rates could rise in market turmoil triggered by the poll – regardless of the result. Instead, […]
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Every small business owner knows that you have to juggle a lot of different roles – not just the expert in your industry field but taking on roles such as admin, marketing and handyman! But one role that business owners should invest in, to make a difference in your company’s growth, is an accountant. Firstly, an […]
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