Bookkeeping, Accountancy and Taxation services
From 6 April 2014, the annual allowance for tax relief on pension savings in a registered pension scheme was reduced to £40,000. This includes contributions made by anyone else into your pension such as your employer. If your pension savings exceed … Continue reading Annual limits for pension payments
A new pension schemes newsletter has been published by HMRC. The latest edition of the newsletter includes details of the following topics: Relief at source - Excess relief HMRC has allowed pension schemes to report excess relief via interim … Continue reading HMRC Publishes Pension Scheme Newsletter
The Pensions Regulator have advised they are "working with HM Treasury and the Department for Work and Pensions to feed into the Coronavirus Job Retention Scheme’s central guidance on the pensions element of the grant. The guidance below addresses … Continue reading COVID-19 guidance for employers: Auto enrolment and pension contributions
A client, who is a newly established Limited Company, recently registered for PAYE & now has to comply with Auto Enrolment duties and so began the auto-enrolment process for all eligible employees in March 2019. Our client was unsure how … Continue reading Pension Deductions
Deductible taxes Business taxpayers can claim a number of deductible expenses against the purchase of common items, such as travel expenses, business operations-related expenses and bills (rent and heating), business equipment and materials … Continue reading A Few Tax Planning Strategies
Payroll departments are querying how to process refunds of pension contributions when auto-enrolment and opting out span a tax year. There is also some confusion about relief at source and net pay pension schemes so we hope this article helps all … Continue reading Tax Question Of The Week – Pension Deductions
We recently took on a new client who had received several letters from The Pension Regulator regarding unpaid contributions. Due to not complying with the requirements in the letter a £400 fixed penalty notice was issued. As the client was new we … Continue reading Case Study – The Pensions Regulator
The minimum contributions you and your staff pay into your automatic enrolment workplace pension scheme will increase from 6 April 2019. It is your responsibility to make sure these increases are implemented. All employers with staff in a pension … Continue reading Increase in Workplace Pension Contributions
