Latest Blogs

The Journey That Is MTD

  It is great to see W&P continuing to actively communicate the requirements and challenges of MTD to clients and prospective clients, and this proactive stance should continue throughout the transition to MTD and beyond. The greatest challenge for us in this communication process is the ‘clarity of the message’ we deliver.  What does this…

Child Care Voucher Scheme Closure – UPDATE @ 16 March 2018

  The UK Government has announced a six month extension on the closure of Childcare Voucher schemes, previously due to close to new members on 6 April 2018. This announcement comes in light of pressure from members of the public who signed a petition to prevent closure and also from the Labour Party who had…

Understanding Payments on Account

  Payments on Account (POA) tend to cause confusion for individuals submitting a Self Assessment Tax Return and may result in cash flow issues for some taxpayers. POA are payments which HMRC require in advance for the current tax year, based on the liability in the previous year. You will have to make POA if…

MTD is coming

If your turnover is over £85k and you are VAT registered, you now have just over twelve months to ensure you are using HMRC approved accounting software to be able to be able to submit your VAT return. HMRC’s timeline is now as follows:  

Payroll Year End

With 5 April fast approaching, you must ensure that you send your final Full Payment Submission (FPS) on or before your employee’s final pay day within the tax year, ensuring that you tick to confirm that this is the final submission for the year on your payroll software. If you forget to tick this box,…

Chancellor’s Spring Statement: As it affects TechCo’s

  As we all get used to the Chancellor’s main Budget now being in the Autumn, he still chose to make a few policy announcements in his Spring Statement yesterday. Items of interest to those running technology companies included: Stagnant growth. Despite the ‘Light at the end of the tunnel’ strapline for his speech, the…

Employer auto enrolment pension contribution set to double with effect from 6th April 2018

  All employers and employees currently paying the minimum contribution of 1% will have to factor contribution increases into their cashflow in order to meet the rise in the level of auto enrolment funding. From 6 April 2018 to 5 April 2019, the employer minimum contribution will increase to 2% with staff contribution equalling 3%.…

Quickbooks Connect

  The “Beast from the East” didn’t stop Accountants, the Self-Employed, Developers and Small businesses as they attended QuickBooks Connect London on 27th and 28th February. Attendees from all over the world had gathered to develop the knowledge in QuickBooks online, meet QuickBooks Add-on Exhibitors, hear from featured speakers who were specialists in their industry…

National Minimum Wage Rates

  Effective from April 2018 the National Minimum Wage rates will be increasing again, as per the below figures: Workers aged 25 years or more: £7.83 per hour Workers aged 21 to 24 years: £7.38 per hour Workers aged 18 to 20 years: £5.90 per hour Workers aged under 18 (but above compulsory school age):…

Spending your old £10 notes

From 1 March 2018, most businesses and shops will only accept the new plastic £10 notes, which feature Jane Austen. The new polymer notes are more secure and harder for fraudsters to counterfeit. They also have raised bumps and dots in order to help blind and partially-sighted users to identify each banknote. From 1 March…