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People with Significant Control

From 6 April 2016 limited companies and limited liability partnerships will need to keep a register of People with Significant Control ( PSC). This is a list of details of individuals and companies which have significant control over your business. The point of the PSC register is to increase transparency over who owns and controls […]

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Collection of student loan

Plan 1 Plan 1 is for: English and Welsh students who started before 1 September 2012 all Scottish and Northern Irish students You start repaying when you earn over £17,495. This amount changes on 6 April every year. Plan 2 Plan 2 is for English and Welsh students who started on or after 1 September […]

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Expenses charged to your clients – for VAT purposes, HMRC rules on disbursements

If you are reimbursed expenses from your client, the receipt is VAT applicable unless the expense meets the following rules from HMRC; ‘Before you treat a payment as a disbursement(no VAT applied), you’ll need to make sure all of the following apply: you paid the supplier on your customer’s behalf and acted as the agent of your […]

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Monthly payroll dates on Freeagent

How to submit monthly payroll with FreeAgent When you are about to run your payroll each month, the screen shows a box at the top RHS called ‘choose a date for your pay period. This is the date of the payment.  It is important that the RTI submission is made to HMRC before this date. Whatever payment […]

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