This scheme will allow you to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for the next 3 months. This may be extended if needed Who can apply You can apply if you’re a self-employed individual or a member of a partnership and you: have …
Furloughed members of staff must not work for the employer during the period of furlough. Furlough is from 1 March 2020, so is to be backdated. It will last for at least 3 months and will be extended if necessary. Note that while the scheme is backdated to the beginning of March as it is …
At Donoghue & Co, we want to keep you up to date as much as possible in these uncertain times with the Coronavirus, but the below is subject to substantial change based on the UK and Scottish Government updates. Announced in the UK Budget, Statutory Sick Pay will be payable from Day 1 instead of …
How it works Marriage Allowance lets you transfer £1,100 of your Personal Allowance to your husband, wife or civil partner – if they earn more than you. This reduces their tax by up to £220 in the tax year (6 April to 5 April the next year). To benefit as a couple, you (as the lower earner) must have …
The flat rate VAT scheme is an incentive provided by the government to help simplify taxes and means you charge VAT on your invoices at 20% (2014 rate) but only pay back HM Revenue and Customs at a lower rate, for IT Contractors (rates differ depending on your profession/trade, contact us for details) the rate …
From April 2016 the Dividend Tax Credit will be replaced by a new tax-free Dividend Allowance. The Dividend Allowance means that you won’t have to pay tax on the first £5,000 of your dividend income, no matter what non-dividend income you have. The allowance is available to anyone who has dividend income. Headline rates of …
As of the 1st of October 2015, the National Minimum Wage (NMW) increases for employees. The NMW is the minimum pay per hour almost all workers are entitled to by law. It doesn’t matter how small an employer is, they still have to pay the minimum wage.The minimum wage rate depends on a worker’s age …
PAYROLL – NEW PENALTIES FOR LATE RTI SUBMISSION What happens if you don’t report payroll information on time?
As of the 1st of October 2014, the National Minimum Wage (NMW) increases for employees.
As of the 1st of October 2013, the National Minimum Wage (NMW) increases for employees
