Allowances Personal Allowance – the personal tax-free allowance for UK residents will increase to £12,500 from 6th April 2019. Higher Rate Threshold – the higher rate tax threshold for UK residents will increase to £37,500 (£50,000 including personal allowance). Income Tax rates and thresholds on non-savings, non-dividend income for Scottish taxpayers are set by the…

Date posted: October 30, 2018

Around 2.3% of the UK work force use zero-hour contracts and this number is rising. Employer’s usually employ people under a zero-hour contract to secure flexible employees when staff levels vary throughout the year.   It is useful to use zero-hour contracts where work demands are irregular or there is not a constant demand for…

Date posted: October 25, 2018

You may notice on your 2017/18 self-assessment tax return that you are being asked to make ‘payments on account’ towards your 2018/19 tax return. This will be the case if your Income Tax and class 4 National Insurance total more than £1,000 for the tax year and you don’t pay tax at source on more…

Date posted: October 18, 2018

As the law doesn’t provide a definition, it can be difficult to determine whether a sub-contractor status is bona-fide or labour only and you need to clarify this to ensure you have the correct insurance for your business. If a sub-contractor is a labour-only sub-contractor (LOSC), then you need Employers’ Liability Insurance to cover them….

Date posted: October 11, 2018

Glancing down my Facebook memories over breakfast this morning I realised it was the anniversary of when I won my second EVA award for achievements in Financial Services. It reminded me that I haven’t entered TI Accountancy into any business awards for some time now, and I have added “to look for some appropriate entries”…

Date posted: October 4, 2018