The Renminbi The gradual emergence of the renminbi (The official currency of the People’s Republic of China) has been one of the more significant developments to occur in the wake of the world recession. It is now accountable for 2.2% of all foreign exchange...
Key Features Employers are required to make secondary Class 1 national insurance contributions (NICs) for their employees. From April 2014 every UK business will be allowed an annual employment allowance of £2,000 to offset against their employer NIC liability. This...
Key features Cash basis is a way of working out a business’s income and expenses for a Self-Assessment Tax Return. The cash accounting regime is voluntary and available to unincorporated businesses. Using cash basis requires records to be kept in a certain way from...
Many companies are migrating to Britain and especially London to take advantage of the resources available to businesses. London has long been established as leading centre for banking and finance and with the emergence of tech city it is fast becoming...
What is it? Crowdfunding is a relatively recent concept used to raise funds for a business or project. The process has developed as an alternative to more traditional methods such as bank loans or angel investment where a sole person would fund an idea. With...
Today the Chancellor addressed the House of Commons and the televised audience with his forthcoming plans. December is widely accepted as the season for good will so George Osborne had a tough job to deliver the Autumn statement. Fiscal Target The Chancellor was...
Background Previously UK employers were not required to contribute to their employees’ pension schemes, however this is set to change with new laws which started to come into force from October 2012. As an employer, even if you employ just one person, you will...
IR35 was a piece of legislation brought in by HMRC 12 years ago in an attempt to tackle tax and National Insurance avoidance schemes through the use of intermediaries such as partnerships or companies. HMRC’s view was that a large number of IT Consultants,...
Enterprise Management Incentive (EMI) share options have been around for over a decade, allowing small higher risk businesses retain employees and grow the business by offering an equity stake in the company. How do they work? If the employer were to simply give their...
Keeping good financial records is of vital importance to a business of any size, not just from an accounting point of view but also from a management and business running perspective. As well as being used to assess tax liabilities, accurate financial records can be...