Client Portal
Premier Accounts Blog
Stay up-to-date with Premier Accounts and industry news
Increase in National Living Wage
The Chancellor of the Exchequer, Jeremy Hunt, confirmed that the government has committed to the proposals of the Low Pay Commission for increasing minimum wage rates from 1 April 2024. The actual
Accounting periods for Corporation Tax
Companies often have two different company accounting periods. This is because there are different rules for Companies House filings and for returns sent to HMRC.
The accounting periods can be the
How dividends are taxed
Dividends received are taxed as income but the rates of tax applied are different to the formal Income Tax rates. Also, individuals can receive dividends up to the annual dividend allowance tax free.
Who needs an EORI number?
The Economic Operators’ Registration and Identification System (EORI) was setup as a European Union (EU) wide initiative that helps businesses communicate with customs officials when they are
Repeat business
Once you have secured the attention of a customer that has purchased their initial goods or services from you, you have completed the hard part – converted a prospect into a buying customer – so don’t
Recurring sales
Most business owners will appreciate the difference between one-off sales, and services that are generally described as recurring.
For example, you may sell a laptop (a one-off sale) and then bolt on
Tax Diary November/December 2023
1 November 2023 – Due date for Corporation Tax due for the year ended 31 January 2023.
19 November 2023 – PAYE and NIC deductions due for month ended 5 November 2023. (If you pay your tax
Check if you need to pay someone through PAYE
Employers usually have to pay employees through PAYE if they earn £123 or more a week (£533 a month or £6,396 a year). There is no requirement to pay self-employed workers through PAYE.
HMRC’s
When you must register for VAT
The taxable turnover threshold, which determines whether businesses should be registered for VAT, is currently £85,000. The taxable turnover threshold that determines whether businesses can apply for
Deadlines 2022-23 Self-Assessment tax return
The 2022-23 tax return filing deadline for taxpayers who continue to submit paper Self-Assessment returns is 31 October 2023. Late submission of a Self-Assessment return will incur a £100 late filing
