Sinclair Day

September 6, 2017

What are VAT records and how long should you keep them?

There are distinct rules that VAT registered businesses must follow regarding retention of VAT records. Records include: a record of sales and purchases, and a separate VAT account. Generally, a business must keep VAT business records for at
September 6, 2017

Self-employed NIC increase

Class 2 National Insurance Contributions (NICs) are currently paid by self-employed taxpayers and members of partnerships if their annual profits exceed £6,025. Class 2 NICs are payable at a flat weekly rate currently, £2.85. Class 2 NICs count
September 6, 2017

Auto-enrolment penalties sky-rocket

Automatic enrolment for workplace pensions was instigated to encourage employees to start making provision for their retirement with employers - the government also contributing to make a larger pension pot. The timetable for employers to begin
September 6, 2017

HMRC accept changes to R & D claims

HMRC recently announced a deadline for accepting amended claims for Research and Development (R&D) tax credits. This specific opportunity relates to claims to include eligible reimbursed employee expenses as part of qualifying staff costs. Only