IRVINE ACCOUNTING
FAQ Page
Some common questions when outsourcing or changing your accountant if you can't find your answer here email : info@irvineaccounting.co.uk
Frequently Asked Questions
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Accounts, Bookkeeping & Payroll are expensive and time consuming chore for many businesses, fortunately there is a solution. By outsourcing your company you can save both time and money in the process.
You must be aware of the UK law relating to the national minimum wage issuing pay statements PAYE and National Insurance deductions statutory payments pension and student loan deductions as well as how the HMRC enforces the National Minimum Wage.
The Construction Industry Scheme (CIS) sets out the rules for how payments to subcontractors for construction work must be handled by contractors in the construction industry.The scheme applies mainly to contractors and subcontractors in mainstream construction work, however businesses or organisations whose core activity isn't construction but have a high annual spend on construction may also count as contractors and fall under the scheme.
It has been announced today that from 1 April 2014 the UK VAT registration threshold will rise from £79,000 to £81,000. This represents the amount of sales a company or sole trader can make annually in the UK before they are required to register for VAT and UK VAT is then charged at 20% on taxable goods or supplies. Along with this, the deregistration threshold for taxable supplies will also rise from £77,000 to £79,000 per annum. The deregistration threshold for relevant acquisitions from EU Member States will increase to £81,000 from £79,000
General hours are:
9:00am to 5:30pm, Monday to Friday.
9:00am to 5:30pm, Monday to Friday.
Running a successful business in the UK involves more than providing or selling a product or service. If you employ staff, however few, then you will need to consider
the best, most efficient and legally acceptable way to pay them.
the best, most efficient and legally acceptable way to pay them.
If you are an employer, you must provide a form P60 to each employee who is working for you at the end of the tax year and for whom you have completed P11. The P60 confirms an employee's final tax code and shows their total pension and/or earnings for the year, as well as the year's total tax deductions and National Insurance contributions. If you're an employee, keep form P60 as a record for self-assessment purposes.
If you are already signed up to use HM Revenue & Customs (HMRC) Online Services and have a Government Gateway account, you enter your User ID and password, at the 'Login' button
Tational government grants for small businesses come from both the UK government but also the Scottish Parliament, Welsh and Northern Ireland Assemblies and each of these has its own departments and agencies, which hand out the money based on their own criteria and objectives.
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