Latest News

Tax Tips, Business News, Government News, Small Business & 1 more
Tax-Free Childcare

At the end of April 2017, the new Tax-Free Childcare scheme was launched by the government. The government has started inviting parents to apply for Tax-Free Childcare beginning with parents of the youngest children and parents of disabled children. The scheme may be of interest: if you are an employer: you may be asked questions about the new scheme by your employees to individuals, particularly the self-employed, as this is the first childcare scheme providing a tax break for the self-employed. What is Tax-Free Childcare? Eligible parents will open an online childcare account. When a parent pays into the account, […]

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Academies, Education News
Teachers' Pension

The End of Year Certificate (EOYC) for the teachers’ pension scheme will be issued in April. However this will not be in the usual format of a downloadable blank form, with everything needing to be completed online. The release date has not yet been confirmed by Teacher’s Pensions; the only information we have is that it will be released mid-April. Academies are required to finalise their EOYC and submit it to the Teachers’ Pensions by 31st May 2017. If the EOYC is audited by the 31st May then no further work is required. However, if it is returned without an […]

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Academies, Education News
Academies

EFA Changes The EFA has now merged with the Skills Funding Agency, and will now be known as the EFSA. This will have no impact on any existing contracts or agreements with the agency. Teachers’ Pensions EOYC Audit There are some significant changes to the completion and submission of this year’s End of Year Certificate (EOYC) for the Teachers’ Pension.  Please click the link below from the Teachers’ Pensions website updating us on the release date for the new information. End of year certificate EOYC online form update Along with completing the EOYC online, submission will also be made via […]

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App

When we launched the Forrester Boyd app just under two years ago there was some uncertainty about how popular it might prove.  We were convinced that it was a fantastic tool, offering much more than an electronic version of our tax tables.  What we didn’t know was how many people would get the message. Well now we do know as we have just had our 1,000th download of the app.  That’s 1,000 people benefiting from up to date tax information, a state of the art mileage tracker and a suite of tools calculating everything from loan repayments to profit improvements. […]

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Healthcare, Business News
public sector

The Government announced in the 2016 Budget that they were to reform the intermediaries legislation for public sector engagements. However what does this mean for workers within the public sector? A great deal if you work through your own limited company, is the quick and simple answer! The intermediaries legislation, commonly referred to as IR35, was introduced in 2000. It requires individuals working through their own limited company (an intermediary) to pay broadly the same amount of tax and National Insurance Contributions (NIC) as employees. IR35 applies in situations where you, the worker would have been an employee if you […]

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Marriage Allowance

The Marriage Allowance enables couples to transfer £1,100 of personal allowances to spouses or civil partners. To benefit as a couple, the lower earner must have income of less than £11,000 and the higher earner must not earn above £43,000. Transferring the allowance will reduce the tax bill of the higher earner by up to £220 in the tax year. So who can apply? You, the lower earner, can transfer a proportion of your Personal Allowance if all of the following apply: You are married or in a civil partnership You don’t earn anything or your income is under £11,000 […]

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Small Business
Pounds

The new £1 coin comes into circulation on 28th March.  The change has largely been driven by concerns about the volume of counterfeit coins in circulation (estimated to be around 3% of the total).  The new pound has a number of counterfeit prevention features and so should make life much harder for criminals. While few people would have an issue with reducing the potential for criminal profiteering there may well be a significant number of businesses who are concerned about the impact on them.  If you are in that category then the following website may be useful https://www.thenewpoundcoin.com/ There are […]

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Business News
Academies

The Government announced in the 2016 Budget that they were to reform the intermediaries legislation for public sector engagements. However what does this mean for affected employers? A great deal if you engage individuals who work through their own limited company is the quick and simple answer! The intermediaries legislation, commonly referred to as IR35, was introduced in 2000. It requires individuals working through their own limited company (an intermediary) to pay broadly the same amount of tax and National Insurance Contributions (NIC) as employees. IR35 applies in situations where the individual would have been an employee if they had […]

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Government News, Tax
Self employed

After catching almost everybody by surprise with his announcement of increases in Class 4 National Insurance in his first budget Chancellor Philip Hammond has today announced that he has changed his mind and the increase has been scrapped.  This follows intense political pressure, not least from the Conservative backbenches, to reconsider the move. It may well be that the collective sigh of relief amongst the self-employed will be relatively short-lived.  The Prime Minister stated in today’s PMQs that further proposals will be brought forward to “maintain fairness in the tax system”.  As yet no details have been so much as […]

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Academies, Education News
Academies

You will have hopefully completed the Academies Accounts Return which is due to be submitted by the extended deadline of 28 February 2017. And with this deadline on the horizon, it is useful to point out a few updates which may be useful to you as an Academy Trust. National non-domestic rates (NNDR) claims You should claim for 2015 to 2016 national non-domestic rates, if you haven’t yet done so, by 31 March 2017. This is your last opportunity to claim for NNDR for the 2015 to 2016 year which can be done by the online claims form. Once you […]

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