What is an Apprentice?

All workers are entitled to the national minimum wage depending on their age but can differ if they are classed as an ‘apprentice’. Currently the minimum wage for an apprentice is £3.70 per hour and applies to apprentices if they …

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Year End Tax Planning

As we are approaching the end of the financial year, now is a good time to consider tax planning to maximise your tax free allowances, reliefs and exemptions for the current tax year as some of these will be lost …

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New Tax allowance for Trading and property income

From 6 April 2017 two new allowances have become available – the trading allowance and the property allowance. The trading allowance in simple terms, allows an individual to earn up to £1,000 without having to declare this amount or pay …

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Universal Credit

Universal Credit Universal Credit is being introduced in the Fermanagh and Omagh District on the 21 February 2018 and will replace the following five benefits: > Child and Working Tax Credits > Jobseekers Allowance (income-based) > Income Support > Employment …

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Have you filed your Self-Assessment Tax Return and paid your Tax Liability?

Out of the 11.4m self-assessment tax returns which HMRC issued for 2016/17, 745,588 returns are still to be submitted. These outstanding self-assessment tax returns will automatically have a £100 fixed penalty charge for late submission. If you are one of …

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How prepared is your business for the possible impact of Brexit?

While Brexit took a backseat over the festive period giving us a welcome break from the seemingly endless stream of Brexit related news coverage, this was only likely to intensify once again in the coming months as we are fast …

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Self-Assessment Deadline is approaching – Are you prepared?

There are only a few weeks left to submit your self-assessment tax return for the 2016/2017 year, so if you haven’t thought about getting your information together and in order, it is highly advisable to do it now rather than …

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Stamp Duty Break for First Time Buyers

In his November budget, the Chancellor announced the immediate abolition of stamp duty land tax (SDLT) for first time buyers purchasing properties up to £300,000. First time buyers purchasing a home for consideration of £300,000 to £500,000 will still have …

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2017 Autumn Budget

Philip Hammond delivered the 2017 autumn budget on Wednesday 22 November 2017. The budget focused on supporting families and businesses in the near term and on building an economy fit for the future. Some of the key points have been …

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Advantages of Management Accounts

Management Accounts allow businesses to produce weekly, monthly or quarterly reports which help track, record and keep an up-to-date eye on the financial information of their business. As management accounts do not have to follow any precise accounting standards, business …

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