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  • As technology and the marketplace continue to move forward at a rapid pace, many small businesses can be left wondering what’s next. It’s important to see the trends before they happen so you can capitalise on them for your business. Being one step ahead could mean the difference between a profitable year, and a bankruptcy. […]

  • There is often confusion around what records you must keep in your Company, how long you should keep them for and what format they must be kept in. LeeP’s guide can help demystify these questions for you:   Limited Company Records: You must keep details of: directors, shareholders and company secretaries the results of any […]

  • State Pension Facts 1. The average weekly state pension payment is £130.30 State pension recipients currently receive £130.30 a week on average. The exact amount you’ll receive, or whether you’re eligible for payments at all, is largely dependent on your National Insurance contributions. The basic state pension is currently worth £115.95 a week, but some […]

  • 12 Month Delay In the Spring Budget this year, Hammond said, that unincorporated businesses with a turnover below the VAT registration threshold would be allowed to delay the introduction of quarterly reporting by one year – “This will provide them with more time to prepare for digital record keeping and quarterly updates.” Furthermore – following […]

  • Tax-saving ideas to implement before 6 April 2017 The January tax filing season may seem far behind you, but now is the time to consider tax planning opportunities before the 2016/17 tax year ends on 5 April. Every year, each of you have a number of allowances, exemptions and rate bands available to you. You […]

  • New Childcare Scheme which will also be available for the Self-Employed! LeeP Accountant’s summary on the new Childcare scheme which for once seems to give a ‘nod’ to those who are self-employed! A new childcare scheme called tax-free childcare (TFC) will replace the much loved childcare vouchers which was operated by Employers. The new scheme will […]

  • The compulsory registration requirements for VAT is either when: a) your taxable supplies exceed £83,000 (£85,000 in 17/18 as shared in Hammonds Spring budget last week); or b) there are reasonable grounds to believe that your taxable supplies in the next 30 days WILL exceed £83,000 (for example of you’ve just secured a large contract). […]

  • If you are self employed you can build up your pension contributions record to ensure you qualify for the full state pension of £155.65/ week (16/17 tax year) by paying class 2 NI contributions.  Class 2 NI is currently £2.80/ week. 

  • The state pension is currently £155.65/ week but ONLY if you have completed a full 35 “qualifying” years of contribution through the National Insurance contributions that you pay.  Each year that you are short of this number of Qualifying years your pension will be reduced by £4.45/ week.  LeeP can help you plan a tax […]

  • The pension age this tax year is 65 for men and 63 for women. This will increase to 68 for both sexes. You can calculate what your state pension age will be on the SPA calculator on GOV.UK. 

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