HFM TAX BLOG

18.08.2018

HFM Tax App Upgrade

HfM Tax was one of the very first accounts in London to launch a free mobile App and we have recently made a major upgrade. The HFM Tax App is full of really useful Tax Tables, Calculators and important dates. All of which you will be able to access for free, anywhere you have internet[…..]

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11.08.2018

Tax Return Penalties Become Points Based

Tax Return penalties have remained pretty much the same for more than 20 years. File a day late and there will be £100 fine. In another six months a further £100 is added. And there was a time when HMRC could not charge more than the tax you owed. The real penalty was in the[…..]

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14.07.2018

Directors Loans

Directors Loans can cause tax complications which many small business owners are unaware of. In fact they often only come to light when accounts are prepared and it is realised that the owner/director has withdrawn more cash than legitimately be taken in dividends. The actual making of the loan in itself does not trigger any[…..]

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07.07.2018

Who qualifies for the national minimum wage?

The National Minimum Wage is important to get correct and the first step is to know who qualifies and who does not. So, who does qualify for the national minimum wage?  1 Workers must be at least school leaving age to get the National Minimum Wage. They must be 25 or over to get the[…..]

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23.06.2018

Making Tax Digital for VAT

Making Tax Digital for VAT (MTD) finally comes into effect  from April 2019, but only for certain businesses. The April 2019 launch will only apply to VAT registered traders. More specifically, MTD will apply to businesses who have a turnover above the VAT threshold – the smallest businesses will not be required to use the[…..]

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09.06.2018

Employees’ holiday entitlement

Employees’ holiday entitlement is a seasonal subject to consider and the following definitions should help to clarify employee and employer rights and responsibilities regarding entitlement to holiday pay. Almost all workers are legally entitled to 5.6 weeks’ paid holiday per year (known as statutory leave entitlement or annual leave). An employer can include bank holidays as part of statutory[…..]

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