WKM Accountancy

Tax Efficient Investments – Isa

Mariah — Mon, 26 Mar 2012 22:17:57 +0000

ISA deadline 2011/2012 is approaching soon, So take advantage of tax saving by utilizing the use of your ISA allowance.

2011/2012 Allowance is as follows:

Cash ISA allowance £5340
Investment (Stock & Shares) allowance £10680

Remember you can hold both Cash ISA and stock & Share ISA if you wish but the total combined allowance is £10680 (for 2011/2012)

What do I look for when looking for accountant?

Mariah — Thu, 19 Jan 2012 11:55:50 +0000

The question you need to ask your self is, what do I look for when searching for an accountant?

Here are some points to help you:

Make sure you can trust your accountant
You work well together and when you have any question you are not afraid of ringing or emailing with your accountant to ask these questions no matter how silly they are.
Do you think you are getting “the service you pay for” Remember never choose an accountant due to the price they are charging, look at how much the accountant will save you.
Do you understand how your business is operating and what improvements need to be done.
Have you got the right structure for your business.

With the above few points I trust you will always make a good decision.

Self Assessment Deadline

Mariah — Fri, 06 Jan 2012 00:37:46 +0000

Quick reminder the tax return for 2010-2011 should be submitted by 31.01.2012. If you need help, … Continue reading →

Pension – auto-enrolment delay

Mariah — Wed, 30 Nov 2011 22:42:03 +0000

The government has confirmed delaying pension auto-enrolment for firms employing 49 or fewer employees until 2015.

Tax Return in Ilkeston

Mariah — Tue, 04 Oct 2011 22:49:58 +0000

I know most of you will say January 2012 is far. But we are already in October so don’t leave your tax return submission until the last minute contact WKM Accountancy Services on 01158240555 and see how we can help you meet the deadline.

National Minimum Wage rates

Mariah — Wed, 21 Sep 2011 13:17:25 +0000

The new rates for NMW from 1 October 2011 are as follows:

21 and over will increase to £6.08
18-20 rate will increase to £4.98
16-17 rate for workers above school leaving age but under 18 will increase to £3.68
For apprentices under 19 or 19 or over and in the first year of their apprenticeship will increase to £2.60

Furnished Holiday Lettings

Mariah — Tue, 02 Aug 2011 21:59:38 +0000

Changes which affected FHL.

From April 2011 the ability to offset loss from FHL against other income was stopped. In future losses suffered can only be offset against income from he same FHL business.

When should I register for VAT?

Mariah — Wed, 27 Jul 2011 09:14:25 +0000

You should register for VAT if:

Your VAT taxable turnover for the previous 12 months is more than £73,000 (the current VAT registration threshold)
You think your VAT taxable turnover will exceed the threshold in the next 30 days
You exceeded a VAT threshold at an earlier point in time and have not registered for VAT
You take over a VAT-registered business as a going concern

Expenses record template

Mariah — Thu, 30 Jun 2011 20:50:34 +0000

Expenses record template

Mileage Allowance Payments

Mariah — Wed, 22 Jun 2011 05:36:19 +0000

The following rates represent the maximum tax free mileage allowances for employees using their own vehicles for business use. Any excess is taxable. If the employee receives less than the statutory rate, they can claim tax relief on the difference.

Tax – Rates per business mile

Type of vehicle First 10,000 miles Above 10,000

Cars and vans 45p 25p

Motorcycles 24p 24p

Cycles 20p 20p