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[12 May 2016 | Comments Off on National Insurance Contributions and the UK State Pension | ]
National Insurance Contributions and the UK State Pension

We are accountants and tax advisers, and we do not get involved in pension matters. However, this is what we know about the interaction between National Insurance Contributions and the UK State Pension.

If you are following our recommended director shareholder payments pattern, then your salary should be high enough to give you a National Insurance credit, even though you don’t pay Class 1 National Insurance.
A full year at this level is a “qualifying year”. This page https://www.gov.uk/state-pension/eligibility used to say:
“You might not pay National Insurance Contributions because you’re earning less …

getting things done, routine »

[14 Mar 2016 | Comments Off on Meal allowances | ]
Meal allowances

It’s long been a policy of ours that all employee expense claims (and directors’ expense claims) should be supported by receipts, proving that the relevant expenditure has taken place, and that the employee’s claim is for a legitimate business expense. That’s set out in our guide:
Claiming back expenses from your own Limited Company
We don’t need to see every receipt from Pret a Manger for £2.99 sandwiches, but we want the reassurance that you the client make a point of keeping your staff (and yourself) within the rules.

So, here is something …

one offs »

[8 Nov 2013 | No Comment | ]
Should I dissolve my company or put it on ice?

Hopefully, running your own business has been a good experience. When business comes to an end, we know that the double barrelled question “should I dissolve my company or put it on ice” is often asked.
If you have finished with the company and no longer need it, then dissolve it. Keeping it will only add to your costs. A simple dissolution guide is here.
It is not possible to ever make a traded company become truly dormant again. There will always be things to do. A dormant company is one which …

one offs »

[8 Jun 2010 | No Comment | ]
London Office – New Address

We are now in the City of London

We have moved 500 metres, out of the London Borough of Tower Hamlets and into the City of London. On account of multiple issues with Royal Mail (see the article below) we believe that there is a better chance of the Mount Pleasant Sorting Office delivering our mail, when compared to the Whitechapel Sorting Office.
Unit 115
155 Minories
We may still encounter some problems with Royal Mail but as the City of London is such an important financial centre, we feel certain that the …

annual »

[2 Sep 2009 | No Comment | ]

It’s normal for some people to make tax payments on account every 6 months

If you’re self employed, or have lots of income from rent, dividends or investments, you may have become used to the pattern of making tax payments every 6 months.
However, the way the rules are structured, it normally comes as a bit of a surprise the first time you encounter the the “payments on account” regime. PoA for short. If most of your tax is paid under PAYE you won’t need to worry about this. The rule is …

Uncategorized »

[24 Jun 2009 | No Comment | ]

Proactive looks after small business owners spanning London and the South East. We are strictly a business to business service and our team of accountants and book keepers likes to focus on getting things done. We handle year end accounts, tax returns and VAT returns quickly and cleanly, and with a minimum of fuss.
That saves you time and keeps your costs down. You can concentrate more on your business and keep more of your hard earned cash.
We are a modern practice and we specialise in providers of intellectual services, …

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[22 Jun 2009 | No Comment | ]

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