A guide to reclaiming VAT on fuel and petrol expenses
Claiming back VAT on fuel expenses can be a tricky process. Working out mileage and gathering the required proof to present to HMRC can be complex and time consuming. However, the rising cost of fuel means that claiming back VAT could save businesses a significant amount of money. The team at AMR Bookkeeping Solutions gives […]
National Insurance cuts – everything businesses need to know
The government has confirmed that it will reverse April’s temporary 1.25 percentage point uplift in National Insurance Contributions (NICs), effective from 6 November 2022. The cuts will see NIC rates return to their 2021/22 levels and reduce the NI bills of both individuals and businesses. Here, the bookkeeping team at AMR Bookkeeping Solutions discuss what the cuts mean […]
A guide to employing young people and school leavers
With a wide range of further education courses and options available to school-leavers, the traditional route of GCSEs, A Levels, then onto University to complete a degree is not always the right option for young people. Although legally required to remain in some form of education until they are at least 18 years old, many […]
The rules around employing short-term harvest workers
During the months of September and October, farming businesses may be employing a number of short-term casual workers to assist with the annual harvest. The specific needs of the farming and agricultural sector have been recognised by HMRC and businesses can benefit from concessions when declaring payments for short-term workers. The concessions allow for tax […]
A guide to setting aside money for your Self-Assessment tax bill
Self-Assessment is the system that HMRC uses to collect income tax from self-employed workers, or anyone receiving untaxed income. Many freelancers, sole traders and self-employed workers have questions about how much money they should be setting aside to pay their Self-Assessment bill, and where they should be saving it. Here, the team at AMR Bookkeeping […]
Claiming capital allowances
As a form of tax relief, the ability to claim capital allowances is an incentive for companies to invest in capital expenditure. Claimants must work out their allowance and make their claim to HMRC. Different types of businesses are required to claim capital allowances in a different way. Here, the AMR Bookkeeping Solutions team provides […]
An employer’s guide to paying overtime
If any of your staff work outside their contracted hours, you might be wondering what the UK rules and regulations are around paying overtime. Are employers obligated to pay overtime? Are there limits to how many hours staff can work in a week? And do you need to declare employee overtime on payroll software? The […]
When is the right time to outsource your bookkeeping?
Meticulous bookkeeping is a non-negotiable requirement for any successful business. When your books are in order it makes everything from tax preparation to financial planning, and even applying for business credit, much easier. For businesses in their infancy, bookkeeping is a task that is usually done in-house. However, in the long-term, many businesses find that […]
Electric vehicle salary sacrifice schemes
With individuals and businesses across the world looking to make eco-friendly choices, many employers are now offering electric vehicles as part of their salary sacrifice car schemes. In light of the UK Government’s goal to end the sale of new petrol and diesel vehicles by 2030, and tax cuts incentivising employees to opt for low […]
Employing an apprentice – everything a company needs to know
Employing an apprentice is an excellent way to expand and upskill your workforce, and train new staff according to the needs of your business. However, when employing an apprentice there are a number of wage, funding and contractual considerations that you must take into account. Here, our AMR Bookkeeping team provide a guide to everything […]
