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Audit Committee

Annual salary and the new RTI scheme

Rothmans Salisbury is happy to advise on all aspects of tax and accounting, including the new RTI scheme. If you take a small annual salary from your company together with monthly dividends you will not have to make a monthly declaration to the Revenue under their new RTI scheme. You can instead register as an annual scheme as you meet the necessary criteria, which are as follows: all the employees are paid annually all the employees are paid at the same time/same date the employer is only required to pay HMRC annually Once...

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Cash Accounting

Cash Accounting

Rothmans Salisbury are happy to advise on all aspects of tax and accounting, including Cash Accounting. If you run a small business have you considered opting into the new cash based accounting scheme? Bear in mind that this does not mean you will pay less tax. The new cash based scheme allows an unincorporated business with a turnover of under £77,000 to use a simplified cash-based regime for financial years starting from 1 April 2013. Basically this means you will pay tax on the cash you have received during the year, less allowab...

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Small Charitable Donations

Childcare Vouchers

Rothmans Salisbury are happy to advise on all aspects of tax and your accounts. If you have children did you know that you can claim childcare vouchers, which are deduced from your salary before tax, and use these to pay for any type of childcare? Although mainly used for nursery care, you can use childcare vouchers to pay for your children’s summer holiday camp as long as the camp is run by an approved provider. The scheme covers any form of supervised activity that isn't provided during compulsory school hours and is run b...

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Rothmans talk tax

Rothmans talk tax

Rothmans are proud to present their first Tax Tv clip. These will be produced quarterly alongside Power In Numbers. Take a look at the first clip in which they discuss inheritance tax and estate planning. www.rothmansllp.com/join-the-debate.php

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Venus Awards New Business Winner Announced

Venus Awards 'New Business' Winner Announced

The winner of the New Business Award category, sponsored by Rothmans, in the Venus Awards for Hampshire women in business, is Nikki Jones owner/director at Academy Studios, Romsey. Nikki was presented with her award by Sue Sullivan after winning the Final at an Awards Ceremony held at the Grand Harbour Hotel in Southampton. Nikki spent 3 years dreaming of opening the Studios, battling with local planners to get change of use on an industrial unit. Academy Studios has been open almost 2 years now and has become a thriving successful venue f...

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Changes to the PAYE system

The biggest PAYE changes in 70 years now in force

In April, the HMRC introduced a new way of reporting PAYE, known as Real Time Information (RTI). Heralded as the biggest alteration to the PAYE system in nearly 70 years, there was some formidable media speculation in the run-up to its introduction about whether the changes would create the PAYE equivalent of the ‘Millennium Bug’. So how successful has the transition to the new system been so far? We asked Habib Brora, a partner at Rothmans Eastleigh. “Some providers, such as Sage and QTAC, were inundated with calls...

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