Following November's Autumn Statement, the biggest shock was a U turn on Tax Credits as the Chancellor's previous decision to cut tax credits was thrown out by the House of Lords which is great news for lower paid families. 

We also received more details on the Apprenticeship levy at 0.5% from April 2017. We now know there is a credit of £15,000 available to all employers, meaning this charge will only affect employers with over 100 employees based on an average salary. 

National Insurance rates have been frozen at the current rate,  however the £3,000 employment allowance will no longer apply to companies with only one director and no further employees. 

We had no further news on the abolishment of travel and subsistence tax relief for temporary workers engaged through an intermediary, but the FCSA has said it 'seems those outside the IR35 rules will not be penalised.'

Read our Autumn Statement Guide here!

If you have any queries on anything we have raised or if we can help in any other way, please get in touch on 0845 303 1144 or email info@coopercurtis.co.uk. 

Please note, all our content is for general guideline only, every case is different and we would recommend speaking to us before taking any action as a result of the content. The content was correct at the time it was published.

As the tax return season is upon us, we have compiled a checklist for you to use when gathering information...

Please note, all our content is for general guideline only, every case is different and we would recommend speaking to us before taking any action as a result of the content. The content was correct at the time it was published.

HMRC have now stopped accepting comments to the proposed removal of home to work travel and subsistence relief where an individual is engaged through a PSC or Umbrella Company and under Supervision, Direction or Control (SDC). Contracts which fall within IR35 will no longer be eligible to apply for tax relief for travel and subsistence on their ordinary commute.

Under proposed rules, HMRC will look at the extent to which SDC applies and whether in fact they should be on the payroll.

In our latest blog, we explore what HMRC means by 'Supervision,  Direction and Control'...

Supervision

Is there someone overseeing their work? And not only that they are doing it, but this is done to a certain standard?

Direction

Is someone making sure the work is done a certain way? Do they offer instruction, advice and guidance on how it should be done?

Control

Does someone dictate what work is done and how to go about doing it? Does someone have the power to move you on to a different task?

 

Any changes will be confirmed in the Autumn statement, and will come into effect from April 2016. If you are unsure whether you will be affected by these changes, we would recommend that you seek professional advice sooner rather than later. 

We would also recommend that you have PAYE investigation protection in place should HMRC open an enquiry into your tax and National Insurance affairs which will cover you for professional fees incurred whilst bringing the enquiry to a closure.

We can offer this from as little as a £5 per month offering you peace of mind. 

if you are unsure as to what the proposed changes will mean for you, please contact Brian or Caroline for further information on 0845 303 1144 or email info@coopercurtis.co.uk 

Knowledge - Support - Succeed

Please note, all our content is for general guideline only, every case is different and we would recommend speaking to us before taking any action as a result of the content. The content was correct at the time it was published.

We were thrilled to showcase our services last Wednesday and Thursday along with a host of other leading suppliers to the recruitment industry.

 As well as meeting influential people whom we are excited to work with in the future, we managed to catch some seminars and learn what's new in the recruitment industry such as progressions in social media for recruiters, and important legislative changes coming into force. 

For those who participated in our champagne raffle we will be announcing the winner shortly. 

If you couldn't make it to the expo, or would like to hear more about our services adding value to the recruitment industry, please call 0845 303 1144 or drop us an email at info@coopercurtis.co.uk. 

Brian and Caroline at the Recruitment Agency Expo North 30th Sept and 1st Oct 2015

Cooper Curtis provide an Accounting Advisory service helping grow successful recruitment companies and agencies. 

To find out how we can work with you for a better business call 0845 303 1144 or email info@coopercurtis.co.uk. 

The Government announced in the Budget that the AIA or 'Annual Investment Allowance' will be falling to £200,000 as of 1 January 2016 from a generous half a million in the current year.

We view this as a positive announcement for businesses and believe it will put a stop to 'panic buying' businesses looking to make use of the allowance before it's taken away. 

Any plant and machinery expenditure covered by 'AIA' gives a full deduction against profits whether you are Self Employed, a Limited company or Partnership. Anything after this, will be claimed under capital allowances as a yearly deduction (currently 18 or 8%).  

The 'AIA' Allowance includes business expenditure such as; 

• Fire Alarm and CCTV units
• Computer Hardware
• Vans used in business (Not cars) 
• Alterations to a building to install plant & machinery
• Electric shutters (not manually operated)
• Moveable flooring & walls
• Fitted Kitchens & Bathroom Suites
• Integral Features - Lifts, Stairs, Air conditioning and air cooling systems
• Hot and cold water systems but not toilet and kitchen facilities
• Electric systems including lighting systems

Examples of non-qualifying expenditure for 'AIA' include;

• Cars
• Anything on lease
• Buildings including doors, doors, manual shutters, walls & floors
• Mains water & gas

This is not an exhaustive list. Please contact us for a more detailed list. 

For a majority of businesses, it is rare that large amounts are spent on plant and machinery, but nevertheless being aware of the type of expenditure can be offset against profits may influence important business decisions.

We would always recommend you seek professional advice when considering timing of business purchases considered a large amount. 

The 'First Year Allowance' is also available in addition to the 'AIA' for some energy efficient expenditure. 

For further information on purchases for your businesses, contact Brian or Caroline on 0845 303 1144 for a chat or email info@coopercurtis.co.uk to see how we can help you raise your game. 

Cooper Curtis Accountants have offices in Warwickshire, Birmingham and Manchester

Knowledge - Support - Succeed

Please note, all our content is for general guideline only, every case is different and we would recommend speaking to us before taking any action as a result of the content. The content was correct at the time it was published.

Would you like access to our complimentary recruitment resources ? We have compiled a variety of templates for you to use in your every day recruitment tasks. 

Please complete the form below and we will send you an email containing a link and password to access our downloadable templates.

Cooper Curtis is different in that they deliver quality Accountancy and Tax Solutions to Recruitment Businesses due to their proven knowledge and expertise in this industry.

Contact Brian or Caroline on 0845 303 1144 for a chat to see how we can help you raise your game. 

Please note, your details will be treated confidentially and will not be passed on to any third parties.

Please note, all our content is for general guideline only, every case is different and we would recommend speaking to us before taking any action as a result of the content. The content was correct at the time it was published.