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Pennies

Saving the pennies

We know the saying “if you look after the pennies, the pounds will look after themselves”.  This might be a principle for every business. I was surprised to hear a client saying she usually throws away pennies and two-pennies, because it wasn’t worth the effort of keeping them.  “You can’t buy anything with a penny” […]

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Brexit

Brexit, Imports and Exports

Besides the political upheaval and volatility that will follow the decision to leave the European Union, what direct effect will this have on a UK business? Import Duty and VAT Let’s look at a business importing plastic toys from China and then selling these direct to UK consumers.  When the goods arrive in the UK, […]

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Dividends – new tax rules from 1 April 2016

Through the smoke of the March 2016 budget, here is a change which was announced last year.  From 1 April 2016, a new tax will apply to company dividends, with the first £5,000 being tax-free, but above that a 7.5% tax rate will apply for the remainder of the basic-rate tax band.  For higher-rate taxpayers, […]

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Post box

Post & carriage – is it VATable?

  This is an example of one of those simple questions we are asked from time to time, but where the answer is not as simple as we would want. For an internet retailer it represents a more considerable amount.     Summary As it affects your SALES, the VAT treatment follows what you sell: […]

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£2,000 Employer’s NIC break for businesses

On 20th March 2013, George Osborne unveiled his controversial plans to build a stronger economy and promote growth. One of the well-received outcomes of the budget was the announcement of the £2,000 Employer’s NIC allowance which is due to take effect in April 2014.  In previous years, businesses have been given NIC holidays, but to […]

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