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Filing 5 Tax Returns every year - Making Tax Digital

HMRC's initiative titled "Making Tax Digital" means that most businesses and landlords will be required to submit a quarterly tax return together with their usual annual tax return. Here's everything you need to know...

Who is affected?

Every business, landlord and small company with income over £10,000 will be caught under these new rules, but the dates are staggered according to the size of your business activities, as follows:

Revealed...the most bizarre excuses for underpaying the national minimum wage

Last week I wanted to raise the issue on the importance of paying the National Minimum and National Living Wages.  I stated excuses were not acceptable, but some employers do try.  HMRC has published some of the worst excuses given which include:

1. The employee wasn’t a good worker so I didn’t think they deserved to be paid the National Minimum Wage.

2. It’s part of UK culture not to pay young workers for the first 3 months as they have to prove their ‘worth’ first.

National Minimum and National Living Wage 2017

Having read the article 'Employers Face Jail Over Minimum Wage' recently in The Times, I wanted to write this post to discuss the implications for employers when it comes to complying with the 2017 National Minimum and Living Wage rules. 

With Sir David Metcalf, a founding member of the Low Pay Commission (LPC) appointing his first director of the labour market enforcement, employers should ensure they are complying with the National Minimum and National Living Wage rules. 

Checks and balances

Senior Tax Consultant Susan Winter recently had an article published in the December 2016 edition of Property in Practice, the magazine of the Law Society’s Property Section.

Upcoming tax changes may lead more private property investors to incorporate, in this article Susan, together with Tony Lake, commercial property partner at Burnetts Solicitors, look at the pros and cons of holding property personally and holding it in a limited company.

Brexit – What will it mean for VAT?

There are still many uncertainties about what form Brexit will actually take, but given Theresa May’s pledge to invoke Article 50 by the end of March 2017, it is worth contemplating what impact it will have on the UK’s existing tax system.

It is expected that VAT, as a European Union legislated tax, will be affected most.  The UK introduced VAT in 1973 as a requirement to us joining what was then  the European Common Market and operation of VAT is a mandatory requirement for all member states of the EU.

Our Trainee Chartered Accountant Programme - What our trainees think

As 2016 draws to a close, we thought we'd take a look at what some of our Trainee Chartered Accountants say about our Chartered Programme.  

In 2017, we continue to plan and shape for our future and we are looking to recruit the best Trainee Chartered Accountants out there.  So if you think you can help us shape our future and that of our clients we really want to hear from you!

Read what our trainees say...

Karen Thomson wins highest accolade ‘Payroll Professional of the Year’ award at National IAB awards

Armstrong Watson’s Payroll and Employee services team is celebrating after Director Karen Thomson was selected to win one of the highest accolades in the profession – ‘Payroll Professional of the Year’ at the national International Association of Bookkeepers (IAB) International Business and Skills Awards, which took place this month at the House of Commons.

The awards recognise the very best individuals in the industry, celebrating dedication and success. Sponsored by the Chartered Institute of Payroll Professionals (CIPP), the awards are a cornerstone event in the sector. 

Tax self assessment - Have you completed yours?

With the Christmas decorations now firmly stored away and thoughts of the year ahead occupying our minds, January can mean only one thing if you work in Tax; Self-Assessment deadline!  If you haven’t yet submitted your 2015/16 Tax Return the clock is ticking and leaving it to last minute can be costly.

The deadline for submitting a paper return passed on 31 October 2016, so the only option now is to submit online. Therefore if you haven’t already done so you need to file your return online by 31 January 2017.

Training to become a Chartered Accountant

We continue to plan our future and therefore we are looking to recruit the best Trainee Chartered Accountants out there for 2017.

Training with us will challenge and stretch you, you will learn the value of detail and appreciate the value of understanding the bigger picture. Your investment in time, focus and energy will lead to the prized ACA qualification and the start of a valued career path.

I have changed job; now what?

Last month I talked about the considerations on whether or not to change your job. This time the focus is  “what now” after taking the plunge.
I can speak from experience on all the emotions you will now encounter...