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[11 Aug 2016 | Comments Off on Auto Enrolment – the Basics | ]
Auto Enrolment – the Basics

Proactive is not authorised to give pensions advice, and the comments here are a guide to complying with new legislation. It is not a guide to pensions! The figures below relate the tax year 2016/17 and may change every April as each new tax year starts.
Do I need to comply?
You may not need to offer auto enrolment if your business employs no regular staff, but only directors, and none of those directors have a contract of employment. If that’s the case then check this report.
For everybody else, the key points …

featured, routine »

[8 Apr 2016 | Comments Off on Director shareholder payments 2016/17 | ]
Director shareholder payments 2016/17

In the good old days there was an easy way to work out the optimum pattern of salary and dividends for directors of small UK companies. With the advent of the Finance Bill 2016 the situation has become hopelessly complex and that prompted AccountingWeb to publish a critical blogpost. Here’s the first bit with the all important table:

If you want to see the blogpost in full you’ll have to sign up for membership of AccountingWeb. It’s a free resouce for accountants!
And, as we said in our 30 Nov 2015 blogpost, …

one offs »

[12 Jun 2015 | Comments Off on The Pensions Regulator Letter | ]
The Pensions Regulator Letter

Proactive is not authorised to give pensions advice, and the comments here are a guide to complying with new legislation. It is not a guide to pensions!
The Government decided in about 2012 to shake up UK pension provision, and as a result, a lot of smaller businesses have to comply with the new laws from 2015 or 2016. It appears that they launched a campaign in Spring 2015, sending letters like this example, to the smallest of UK employers.

Oddly, if the new legislation does not apply to you, then you …

routine »

[12 Jun 2009 | No Comment | ]

How can I reduce my tax bill?

A few weeks before the end of your business trading year there are a number of measures which you may want to consider, to help minimise your tax liability.
Whilst these measure are intended to help reduce or postpone profits (and therefore taxes) you still need to bear in mind whether this is appropriate commercially. For example, if you are going to talk to the bank about a loan, then you may want to increase profits as opposed to reduce them! The point of this …