Posts Categorised: News

Dudley Business and Innovation Enterprise Zone

DY5 Delight Lewis Smith & Co. would like to welcome Insurance Protector Group (IPG) as the first business to set-up shop in the DY5 Business and Innovation Enterprise Zone. The Enterprise Zone is being developed by a partnership of Dudley Council, Black Country LEP and West Midlands Combined Authority.  Its mission is to rejuvenate the existing Waterfront… Read more »

Apprenticeship Levy 2017

Are You Ready for the Levy? A change is coming to large payroll businesses with effect from 6 April 2017 – the Apprenticeship Levy will apply to all businesses with annual payroll costs in excess of £3 million pa. The levy is being implemented by the government to help pay for an expansion in apprentice training. Employers,… Read more »

Spring Budget 2017

Bashing Business Budget? The Chancellor, Philip Hammond, may have expected some plaudits for his increases in social care spending and higher funding across a number of areas health, education and infrastructure.  Sadly for him the big headlines have made by his supposed attack on “white man van” – the self-employed. Here’s our pick of the highlights of… Read more »

April 5th deadline is looming

A couple of things to do before the new tax year Here are a couple of tax planning ideas to take care of before the new tax year begins on April 6th. Use your 2016/17 ISA allowance The ISA allowance for 2016/17 £15,240, so if you haven’t used it all up yet get investing soon. The £15,240… Read more »

Flat Rate VAT Increase

Are you a “limited cost trader”? Flat rate VAT is rising to 16.5% from 1st April for businesses that HMRC designates as limited cost traders.  This is defined as businesses that spend less than 2% of their sales on goods (not including capital goods, food and drink, and vehicles) for a given VAT accounting period.  You… Read more »

Have you claimed the transferrable marriage allowance

Don’t miss out on £220! HMRC has put out a reminder about a tax break that three quarters of eligible recipient haven’t claimed yet. The transferable marriage allowance came into action back in April 2015.  The allowance allows couples (who are married or in a civil partnership), where one person pays no tax because their income is… Read more »

Increase in HMRC Fines for Tax Return Errors

Key question is did you take “reasonable care”? The Daily Telegraph recently reported a rise of nearly 40% rise in the number of people fined by HMRC for deliberately understating income on their annual returns (28,663 fines in 2015-2016 compared to 20,740 in 2015-2015). A number of commentators have suggested this demonstrates a hardening of… Read more »

No Excuses – National Minimum Wage

Minimum Wage Obligation Whether or not you believe in a National Minimum Wage, you have to pay it to those of your staff who are eligible. HMRC has started a £1.7m campaign to remind employers of their obligation after investigators uncovered many instances of underpayment. As part of the publicity for the campaign HMRC has released… Read more »