Monthly Archives: April 2024

Where do your tips go?

Tipping a waiter - guests enjoying a meal

Many of us will have experienced good and bad service in restaurants or hotels and wondered who actually received the service charges added to bills. Was it the grumpy individual who ignored our attempts to request a bill or was it the waiter with the engaging smile who very definitely deserved his fair share of […]

High risk and all eggs in one basket – multiple income streams

Blue figures on a list of job adverts

The “boomer” population was used to the idea that you could have a job for life. That loyalty to your employer, and their ability to guarantee continuing employment, was something to rely on. How things have changed. Since the late twentieth century, employment has become a more transient affair. There are very few in the […]

New employment protections

Two business men in shirts

The following changes were enacted from 6 April 2024. These changes apply to England, Wales and Scotland. Northern Ireland is not included as employment law is devolved. The information that follows is reproduced from a post on the House of Commons Library at https://commonslibrary.parliament.uk/what-employment-laws-are-changing-from-april-2024/#:~:text=New%20legislation%20has%20expanded%20rights,effect%20from%206%20April%202024. Changes to flexible working Employees can now make two rather than […]

Opening up small company reporting

woman sat at desk with calculator filing business accounts

Companies House are working on detailed changes that will require small and micro sized companies to file information about their turnover and profits at Companies House. Once filed, this data will be available to anyone searching affected companies’ records at Companies House. At present, smaller companies can file abridged accounts that do not include a […]

Boost for small businesses

A man and woman looking at a laptop in a small business restaurant

In a recent press release, HMRC underlined the benefits to small businesses from the increase in the VAT registration threshold and the business rates freeze. Here’s what they said: “Small businesses have received a boost as the VAT registration threshold is raised from £85,000 to £90,000, and £4.3 billion of business rates relief comes into […]

Tax on savings interest

The words tax on coins

If you have taxable income of less than £17,570 in 2024-25 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of the interest is taxable) to the current £12,570 personal allowance. In addition, there is a Personal Savings Allowance […]

Register for the Marriage Allowance

A wedding ring being placed on a woman's finger

The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or does not pay tax above the basic rate threshold for Income Tax (i.e., one of the couples must currently earn less than the £12,570 personal allowance for 2024-25). The allowance works by permitting […]

Check your National Insurance record

The words National Insurance pegged to a washing line

There is an online service available on HMRC to check your National Insurance Contributions (NIC) record online. The service is available at https://www.gov.uk/check-national-insurance-record In order to use this service, you will need to have a Government Gateway account. If you do not have an account, you can apply to set one up online. By signing […]