• Posted March 31, 2016

How to pay your corporation tax

As accountants, we often get asked by our clients how to pay corporation tax. Reference To pay your corporation tax you will need your 17 character Corporation Tax payslip reference for the accounting period you are paying.  The reference number can be found by logging into your company’s HMRC online account and going to “view […]

  • Posted March 22, 2016

What the 2016 budget means for small businesses

The latest budget was billed as the budget for “the next generation”, but there was plenty of good news for small business owners too, here are a few of the headline points. Business Rates Following significant lobbying from small business groups, George Osborne announced that from next April, the rate at which small business rates […]

  • Posted March 21, 2016

The end of the annual return

From June 2016 companies will no longer have to submit an annual return to Companies House, instead they will submit a confirmation statement. Unlike the annual return, companies will be able to submit a confirmation statement any time they wish.  They will however, have to make the statement at least every 12 months. The confirmation statement […]

  • Posted March 11, 2016

Horsforth Hall Park Beer Festival

This year Whitesides are sponsoring a barrel at the Horsforth Beer Festival on 25 – 27 March. The beer festival is being held at the Horsforth Hall Park Cricket Club and will have 40 different beers and ciders, entertainment and food. For further details of the Beer Festival, including directions visit their website here.

  • Posted March 11, 2016

Taxation of Dividends

In the summer Budget, the chancellor George Osborne announced major changes to the current tax legislation which applies to dividend income. From 6 April 2016 there are 4 main changes coming into effect: The 10% dividend tax credit will be abolished. Individuals will have a £5,000 a year tax-free dividend tax allowance. This allowance will […]

  • Posted March 8, 2016

Preparing for the National Living Wage

On 1 April 2016 the new National Living Wage of £7.20 an hour for workers aged 25 and over will take effect. There are several steps employers must take to ensure that they comply with the new rates, including: Finding out which staff are eligible for the new rate Updating their payroll before 1 April 2016 […]

  • Posted February 25, 2016

HMRC’s clampdown on undeclared income

In July 2015 HMRC launched a campaign to clampdown on individuals and businesses who let out rooms in their homes on the internet or sell goods on sites such as Amazon, ebay or etsy without paying tax. Many people who use these sites are unaware that they should be completing a self-assessment tax return for […]

  • Posted February 1, 2016

Sage Shortcuts

At Whitesides, we have been using Sage for over 20 years. We have trained and supported hundreds of businesses on how to use Sage and are often asked about shortcuts. Using shortcuts on Sage can save a significant amount of time when entering transactions, and all without the need to move the mouse. Here are […]

  • Posted January 12, 2016

Leaving it to the Last Minute?

Last year 979,526 tax returns were filed on the last two days of filing (30 and 31 January), that is over 10% of the total number of returns submitted online. So why do people leave it right to the last minute? It doesn’t seem logical, how many news stories do you read of HMRC’s portal […]

  • Posted December 18, 2015

What is salary sacrifice and would it benefit my business?

  A salary sacrifice arrangement is when an employer and an employee agree to reduce the employee’s salary in return for certain benefits. There are financial advantages for both the employer and the employee if a salary sacrifice arrangement is agreed as the employee’s remuneration shifts from cash (where tax and National Insurance (“NI”) is due) to […]