Over the last few weeks we have been introducing you to our current team of ‘Bizzers’, last – but certainly not least – is Katherine. Full Name: Katherine Flood. What is your role at SmallBiz? I am the Client Manager. What are your expertise? Accounts and tax for small and micro businesses, specifically for dentists.…
As a dentist with an NHS pension, you’ll receive a detailed letter about your pension and a potential tax charge. Most dentist won’t need to pay this, but you need to know because it’s your responsibility to inform HMRC when this happens. To work it out, there are 2 things you need to know –…
Following on from the government’s announcement last week that the sale of new diesel and petrol cars will be banned from 2040, we take a look at the rules for company cars and how they are changing. When a company provides a car for use by an employee, the employee pays tax and the employer…
If you’re a director of a limited company and you do some work at home, the company can pay you rent for your home office. Work can include time spent doing CPD. The benefit of doing this is you can take money from the company with little or no tax charge: The company will get…
As a dentist with an NHS pension, you’ll receive a detailed letter about your pension Annual Allowance. It can be difficult to understand, but essentially, there may be an additional tax charge to pay if the value of your pension has increased over a certain amount. Most dentist won’t need to pay this, but you…
If you’re thinking about employing someone, or giving an existing employee a pay rise, you probably want to know how much it’s going to cost you. With our salary calculator, enter the proposed salaries for one or more employees and apprentices. Then see your salary, national insurance and pension contributions bill, per month and per…
All new employers now need to set up auto enrolment pensions for their eligible employees. Legal duties begin as soon as you employ someone. Therefore, ideally you will set up a pension scheme before taking on your first employee, so that they can be enrolled as soon as they start. There are many providers of…
Bitcoin, the peer to peer currency, has recently hit the headlines with plummeting values after China ordered trading in the currency to cease. This plunge followed some startling increases in value over the previous year, from $595 in October 2016 to $4,950 at the start of September this year. So what are the tax consequences…
After significant protests and pressure from business, professional bodies and MPs, the government has accepted that the scope and pace of reforms should be delayed. VAT records must be kept digitally from April 2019, but the wider rollout of digital quarterly reporting for sole traders and small businesses will not begin until at least 2020.…
If you’re thinking of offering your employees any benefits, it’s worth bearing in mind new rules on how those benefits are taxed. In short, if you offer an employee the choice between cash or a benefit in kind (also known as “salary sacrifice”), they will be taxed on whichever of the 2 results in higher…