Primus Accountancy

Primus Accountancy has written 13 posts for primus accountancy

TRANSFER OF PERSONAL ALLOWANCES BETWEEN SPOUSES AND CIVIL PARTNERS

In his 2013 Autumn Statement, the Chancellor announced that from the 2015/16 tax year, a Marriage Allowance would be introduced, whereby a spouse or civil partner would be able to transfer up to £1,000 of unused personal allowance to their spouse or civil partner.  The effect of this would be to reduce the receiving spouse […]

Avoiding self assessment late filing penalties

With around 11 million people expected to submit self assessment returns this tax year, it is vital that small business owners are made aware of relevant deadlines and the subsequent penalties for late submissions, which could prove very costly to their organisations due to added interest on both unpaid tax and unpaid penalties. HMRC’s deadline […]

VAT Rise January 4th 2011

VAT RATE CHANGE As autumn becomes winter usually it is time to start thinking about how to wrap up for all the cold weather and thoughts about christmas shopping.  However for the past few years the Chancellor has changed the VAT rate to give us another headache, and this winter is no exception! Ready for […]

Contractors take a bow

According to ContractorUK, David Cameron praised the UK’s 1.4million freelance professionals yesterday, for what he called their “massive contribution” to the nation’s economy. The prime minister also commended freelancers for being more courageous than 9-to-5 employees. Mr Cameron said: “I can’t tell you how much admiration I have for people who leave the comfort of […]

It’s VAT Jim, but not as we know it!!

Most people see VAT as the tax that gets added to products and services that makes them that bit more expensive. Often large firms will discount the VAT amount as an incentive for consumers to buy their products –  Sony are using a ‘get the VAT’ back offer on TV’s at the minute (They still […]

The only gift you will get from the Tax Man this Christmas – a tax free Christmas party!

Primus Accountancy are not the first to tell you that Christmas is coming, the Coca Cola advert is already on the TV, the shops are already stacked to the rafters with literally thousands of boxes of chocolates, and TV chefs are already fighting to provide the best most succulent turkey recipes! Well even if you […]

Cycle to Work Scheme Update

Is the Taxman back-pedalling on cycle schemes? Last December the Taxman claimed that some employers were incorrectly using the cycle-to-work scheme to avoid tax and NI. He’s now updated his guidance on this; what’s changed? Conditional tax savings A CTW scheme allows you to loan your employees bicycles without them being treated as a benefit-in-kind. […]

Bank Accounts

You run your own business on a self-employed basis. Until now you’ve just had the one bank account out of which you’ve paid business and personal expenses. Should you separate the two? If you separate the two you will Save bookkeeping time. When you only have one bank account, your business and personal expenses can […]

National Minimum Wage Rate Changes – Do They Affect You?

National Minimum Wage Rate Changes – Do They Affect You? From October 2010, National Minimum Wage rates will increase from: £5.80 to £5.93 an hour for workers aged 21 and over £4.83 to £4.92 an hour for workers aged 18 to 20 £3.57 to £3.64 an hour for workers aged 16 to 17 The rise […]

Austerity measures for Accountancy Firms

Most organisations have taken a prudent and safety first approach as their strategy to coping with the difficult ongoing economic conditions that are apparent. However, the cautious don’t rock the boat tactics don’t appear to have translated in some quarters of the contractor accountant sector. It would appear that price rises are the solution for […]