PAYE Expenses and Benefits

PAYE Expenses and Benefits
It is always a good idea to be up to date with what is changing with PAYE. As of April 2016, there was an update on the changes regarding the PAYE expenses and benefits. As an employer, you need to notify the HMRC of any expenses or benefits to employees and then pay tax and National Insurance on them. There are many examples of this, a few are:
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What is stamp duty?

What is stamp duty?
If you are seeking to buy a property, you must pay Stamp Duty Land Tax (SDLT). If you purchase a property over a specific price in England, Wales and Northern Island, you are expected to pay this tax. There is a certain threshold of £125,000 for residential properties and for non-residential properties or land it is currently at £150,000.
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Renew your tax credits

Renew your tax credits
Are you wondering if tax credits are available to you? If so, as a business owner, it is worth looking into whether you are eligible to claim.
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When are businesses audited?

When are businesses audited?
Audits are carried out on businesses to ensure that their financial reports are accurate. Some companies are required by law to undergo an auditing process while others are exempt, but businesses that are exempt may still perform an audit on their company if they choose to. A business may opt for an audit voluntarily to provide them with peace of mind or to produce evidence to present to stakeholders and financiers.
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What is assurance and how can your business benefit from it?

What is assurance and how can your business benefit from it?
Assurance services are offered by accounting companies to assure business owners and stakeholders that the business is functioning effectively and to determine any areas that can be improved. There are three key areas of the assurance process: governance, regulatory and data. Assurance services involve examining various aspects of your business closely.
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