Scott & Wilkinson Blog | Archive 2016

Please select a news items listed below which maybe of interest to you. Alternatively, please review our archives down the right-hand side, searching either by category or by date. If any of them are of interest and you require more information, please do not hesitate to contact the office.

Autumn Statement 2016 - What will change for your business?

Date: 24/11/16

Autumn Statement 2016 - What will change for your business? Read More

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Sage version 23 - New Features

Date: 18/11/16

The September 2016 Improvements for Sage 50 Accounts update is available free for Sage 50 Accounts subscription customers and with some support contracts Read More

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Digitisation of Tax ‘Harder on Small Businesses’

Date: 18/11/16

By 2020, businesses, self-employed people and landlords earning over £10,000 per annum will manage their tax affairs through a digital, online account Read More

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National Minimum Wage: How Does the Increase Affect You?

Date: 12/10/16

National Minimum Wage: How Does the Increase Affect You? Read More

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Workplace Pension Auto-Enrolment

Date: 25/08/16

Did you know that the law states that employees must be able to obtain a Workplace Pension when working for an organisation in the UK? The first question that needs to be answered is Who is entitled to a Workplace Pension? Any employee aged between... Read More

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Late Payments: The Difference between Small and Large Firms

Date: 23/08/16

Recently, we published an article entitled Late  Payments: How to Claim Interest , and we thought it might be appropriate to go into some more detail about situations in which claiming late payment is not the best tactic.  You may be aware of the... Read More

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Late Payments: How to Claim Interest

Date: 11/08/16

For SMEs in all industries, late payments for goods and services can be a real issue.   Cashflow is harder to manage for smaller suppliers, and SME owners can often feel helpless when dealing with larger customers.   A question on the lips of many... Read More

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Businesses need to make productivity a priority to improve growth

Date: 13/04/16

Recent official figures show that the UK has a problem with encouraging productivity in the workplace.  The latest figures released by the Office for National Statistics shows that UK productivity fell by 1. 2 per cent in the last quarter of 2015. Read More

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Warning to businesses not paying the new national living wage

Date: 05/04/16

Businesses are reminded that the penalties for not paying the new National Living Wage and the minimum wage have gone up from the start of this month. Whilst the majority of businesses will have focused on making sure their employees are being paid... Read More

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Business owners may need to settle their debts

Date: 22/03/16

Business owners and shareholders are encouraged to consider paying back loans they may have received from their company following the government's announcement to increase tax rates on advances. The move to tax loans to participators at a higher... Read More

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Budget 2016

Date: 16/03/16

The Chancellor's latest Budget Statement appears on the whole to be positive for SMEs but caution should be applied to certain elements. George Osborne set out from the start of his Budget statement to show that he is on the side of the small... Read More

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Business owners and shareholders need to be ready for changes to dividends

Date: 09/03/16

Business owners and shareholders are encouraged to reassess their position on dividends ahead of changes to the way they are taxed next month. At present there are considerable savings to be made in National Insurance contributions if a minimal... Read More

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Are you ready for the National Living Wage?

Date: 02/03/16

With just a month left before the new National Living Wage is introduced, employers are encouraged to get the correct payroll processes in place. From 1 April 2016 employees over the age of 25 who are currently earning the minimum wage rate of £6.... Read More

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Plan now for the end of the tax year

Date: 24/02/16

Individuals are remidned to use all the tax reliefs and allowances available to them before the current tax year ends on 5 April 2016 in order to minimise liabilities.  There are a number of investment and tax planning ideas that should be... Read More

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Don't ignore the taxmans demand's

Date: 22/02/16

Businesses are warned not to ignore accelerated payment notices (APNs) from HM Revenue and Customs (HMRC), after the department revealed that it raised more than £2 billion from the scheme in 2015. APNs were introduced in 2014 to recover disputed... Read More

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Don't be late filing your company accounts

Date: 04/02/16

Businesses are being warned to prepare their company accounts on time as new data shows that businesses in the UK have already been fined more than £65 million since April last year. The figures released by Companies House show that between April... Read More

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Nearly half of SMEs are worried about currency markets

Date: 25/01/16

The growth and profitability of internationally-trading SMEs could be affected by volatile exchange rates. A nationwide survey (by foreign exchange service providers 'World First') of more than 1, 000 senior decision makers at UK-based SMEs that... Read More

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Investors encouraged to seek of HMRC's seal of approval

Date: 20/01/16

People using the Seed Enterprise Investment Scheme (SEIS) are encouraged to check the credentials of start-ups before investing in them. The SEIS was created to encourage individuals and other businesses to invest in new enterprise and... Read More

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Avoid a penalty and plan ahead for staff pensions

Date: 15/01/16

Small businesses are reminded that they face large fines for not adhering to new staff pension rules.  Around half a million UK employers with fewer than 30 employees will be required to enrol eligible staff into a pension and start paying into it... Read More

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Time to review your pension lifetime allowance

Date: 06/01/16

From 6 April 2016, the pensions Lifetime Allowance (LTA) will be reduced to £1 million.   The LTA is the maximum amount of pension savings you can build up without being subject to an extra charge (the Lifetime Allowance Charge).   This is... Read More

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Memberships & Accreditations

When appointing a firm of accountants it is important to check that they are appropriately registered and regulated.

Our clients can be assured that Scott & Wilkinson are registered with the Institute of Chartered Accountants in England and Wales to carry out audit work in the United Kingdom and regulated for a range of investment business activities.

We are also registered with the Chartered Institute of Taxation as a firm of Chartered Tax advisors. 

Any use of the term "partner", if used, indicates a member of Scott & Wilkinson LLP or an employee of Scott & Wilkinson LLP with equivalent standing and does not indicate that a partnership exists for the purposes of the Partnership Act 1980.