Articles and Publications by Office
On September 1st 2013 a new scheme was introduced by the Finance Act 2013 Schedule 23. This is ‘Employee Shareholder Shares’.
This new piece of legislation concerns a new employee status, namely “employee shareholder”.
There is some debate over the value of this new employee status and whether it provides enough benefits to the employee to counteract some of the sacrifices to employee rights that it incurs.
The Growth and Infrastructure Act 2013 introduced this new term for employee status in employment law but it has also caused a required insert into both tax legislation and... read the full story
It has been a busy year so far here at Salisburys. We have welcomed some news faces and we have been congratulating others on their new qualifications.
We would like to extend an official warm welcome to our new colleagues who have joined the firm recently. Lynne Jones and Rachel Hunter have both joined us this year.
Lynne joins Salisburys as our new full time payroll manager, taking over from Sophie Haywood who will be continuing her studies with us. Lynne started with the firm in July and brings with her a great deal of experience in payroll and administration to Salisburys.
Rachel ... read the full story
Our very own Andrew Rainford has been published into the Practical Tax Newsletter for June and September. In the June addition he has helpfully recounted a success story concerning ‘reasonable belief’ for ESC A19.
Reasonable belief requirement, in terms of the extra statutory concession A19, refers to HMRC using the proof of ‘reasonable belief’ clause to negate ‘writing off’ tax if HMRC failed to make timely use of their information that tax was required to be payed.
According to the extra statutory concession tax can be ‘written off’ if HMRC failed to notify the tax... read the full story
Since the 1st of October the new National Minimum Wage has been in effect.
The National Minimum Wage has been raised in response to recommendations by the independent Low Pay Commission that were presented back in April of 2013.
This rise is intended to improve the living standards of the lowest paid workers at this crucial time when the UK is experiencing signs of economic recovery.
The increase has been met with mixed receptions. The British Chambers of Commerce believe the rise in the National Minimum wage will put pressure on business as recovery has not gone far enough at this st... read the full story
HMRC has announced that 2 of its new Taskforces will be assigned to North Wales in order to seek out fraudulent tax evaders. The areas under scrutiny are self-employed traders in the construction industry, and private landlords who own 3 or more properties. Individuals under suspicion could expect an in depth compliance review, which would include looking at accounting records, invoices and declarations for tax returns to ensure there has been no understatement.
Whilst honest businesses have nothing to fear, anyone caught out by the task forces can expect to be treated with very little symp... read the full story
On the day the new Salisburys web site site goes live...
Small and medium-sized enterprises (SMEs) are owed a record £33.6bn in late payments, according to new research by payment company Bacs.
Bacs said the figure - a rise of 10% over the last year - is the highest since records began in 2007.
SMEs are owed an average of £39,000, and are waiting up to two months to get paid, claims the report.
It added that half of all UK SMEs - 861,000 firms - are currently experiencing late payments.
Full storyMike Hutchinson, head of marketing at Bacs, said: "The issue of late payment ... read the full story
Recent feature Daily Post 23 Nov 2011
IF Aled Roberts could change one thing, it would be for North Wales to be better advertised as a great place to live and work. The director of St Asaph-based Salisbury & Co chartered accountants wants the world to know what’s on offer along the coast and inland, rural and urban, the landscapes and scenery, not just aesthetically but in terms of innovation, creativity and business.
“It isn’t promoted very much and if it is, there seems to be a low awareness about the area and what it has to offer,” Aled told Business Post.
“We’ve... read the full story
View our tax rates, reliefs and efficient investment report for the tax year 2011/2012.
Sample "The Personal Allowance is increased to £7,475 (increase of £1,000) and this should be borne in mind when considering the balance of salary/dividends for directors of owner managed business, as salaries are deductible in the Corporation Tax Return....."
PDF: Efficient investment report 2011 read the full story
VISIT to your accountant is usually all about numbers, but at Salisbury and Company in St Asaph this week the numbers have been very musical!
As long time supporters and sponsors of the North Wales International Music Festival, the chartered accountants practice was the unusual venue for this double bass and guitar duo.
Called Ginge and Celloi Bo, they are part of the Live Music Now programme which gives young professional musicians performing experience, and provides performances in places like schools, hospitals - and now an accountancy firm.
Their audience also included children fr... read the full story
HMRC's LATEST ENQUIRY INITIATIVE – “DASH FOR CASH”
Our Investigation Consultants deal with hundreds of HMRC enquiries at any given time and as a result speak with Inspectors across the whole of the UK on a day to day basis. In the last couple of weeks, we have identified a new initiative within HMRC which appears to be known as the ‘Dash for Cash’.
The Inspectors we have spoken to have told us they are being tasked to bring in as much money as possible, as quickly as possible, which is not really surprising given the current economic environment. We understand there will be p... read the full story