CWR Blog

P45 You’ll get a P45 from your employer when you stop working for them. The P45 shows how much tax you have paid on your salary so far in the tax year. All employers are legally obliged to give all employees a P45 when they leave. There are 4 parts to a P45. (Part 1, […]

When 31st January comes around, every business owner and sole trader who has earned in the previous year needs to have a taxation assessment filed with HMRC.The deadline soon creeps up, and many people will now be panicking about their taxes and trying to get everything in order. If you are struggling with your return […]

With Christmas nearly upon us you may be thinking about rewarding your staff for all their hard work in 2019. As an employer you have certain tax and National Insurance obligations to fulfil on any bonuses paid. If you decide to give cash as a Christmas bonus you’ll need to add the value to your […]

With Christmas just around the corner parties have been booked and everyone is looking forward to some festive cheer. Found out how you can entertain your employees and make the Christmas party tax deductible when it comes to your accounts. You can claim for an annual party (it doesn’t have to be a Christmas party […]

We all know how important it is to plan for retirement and since the introduction of automatic enrolment a vast number of people in employment are saving through the many schemes available. With calls to raise the age of retirement significantly over the next 15 years, forward planning and saving through a pension seems more […]

Here is a brief guide to Self Assessment deadlines and the information you will need to give to your accountant so they can complete your Tax Returns on time. Self Assessment                                                                                                                              Deadline Register for Self Assessment                                                                                      5th October 2019 Paper Tax Returns                            […]

Finding the right accountant is key to ensure time, cost and effort are not wasted. Choosing an accountant is an important decision for any business, so you need to understand how an accountant can add value to your company. How can an accountant help me? Accountancy firms help with company audits, payroll, taxation, bookkeeping and […]

Last year, HMRC imposed a record £860m in penalties on individual taxpayers, up 24% from £694m in 2017/18, according to accounting group UHY Hacker Young In 2018/19 (year-end May 31st), HMRC imposed a record £860m in penalties on individual taxpayers, up 24% from £694m in 2017/18, according to UHY Hacker Young. An increasing number of people are struggling […]

How does Summer affect you? Many business owners struggle with taking time away from their business. It’s important to have time away to recharge the batteries and to re-evaluate where you are going with it. If you are a small micro business you might not have an army of staff to take care of things […]

  Many VAT registered businesses with a taxable turnover above the VAT threshold are now required to use the Making Tax Digital service to keep records digitally and use software to submit their VAT Returns. To start the process you will need: Compatible software to submit your VAT Return Information about the business you’re signing up A Government […]