If you can answer yes to any of the following questions, then you may well be able to reduce your upcoming payment on account. If you are self employed (without a limited company), during your last financial year: Have you noticed that sales have dropped? Did you invest in new equipment? Did your stock levels increase noticeably? Did you incur significant additional costs e.g. rebranding/new website/repairs? If you are a company director, in year ended 5th April 2018: Did your dividends drop for any reason? Did you increase your pension contributions? Did you make any significant gift aid donations?
Would you like help with childcare costs? Well, the Childcare Voucher scheme which was planned to close to new entrants from 6th April, has now been extended to be available to new applicants for a further 6 months. Therefore, there is still plenty of time for YOU AND YOUR EMPLOYEES TO BENEFIT. Directors, remember that you can use the Childcare Voucher scheme yourself as employees. Childcare Vouchers can be used to cover the cost of qualifying after school clubs, etc not just nursery fees as you might expect. Your business could save up to £403 in National Insurance per employee and the employee could save up to £933 in tax and National Insurance.
Are you aware that the National Minimum Wage and National Living Wage increase from 1st April 2018? If any of your team are paid less than £8 an hour, it is worth checking whether this rate needs increasing. Please see below. The minimum hourly rates that should be paid are based on age as follows: – 25yrs and over £7.83 – 21-24yrs £7.38 – 18-20yrs £5.90 – Under 18yrs (but at least school leaving age) £4.20 There are different requirements for apprentices as well. For further information on this and any of the above please visit https://lnkd.in/ejhrQqV
Here is a fantastic opportunity for anyone you know that is thinking of starting their own business, but doesn’t know where to start. Kick Off In Business are running a FREE 3 day course to help people decide whether being self-employed or starting their own business is for them and if so help them to get started. They will provide attendees with a wealth of information to launch their business including details on how to create their offer, what grants are available, social media training and setup, etc. Upcoming courses are being run in Stoke-on-Trent, Leek, Uttoxeter, Burton, Tamworth, Darlington and Middlesbrough.