Monthly Archives: April 2015

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Auto enrolment Lies

12th April 2015

Many businesses have received letters from the government about auto enrolment of staff onto pensions. These letters are little more than marketing babble and nasty scare tactics. Lie Number One: Apparently, the government will pay into employee pensions too: err, no, its the employee and employer who pay in. The government's "contribution" is by not taxing what you put into the pension, and treating the pension cost as a tax deductible expense of employment for the employer: nothing new...

Major Revision To Accounting Rules For Small Companies

2nd April 2015

As part of the UK being brought in line with a new 2015 EU directive, so that across the EU, the same accounting rules apply, for accounting periods beginning on/after 1st January 2016, the thresholds for what qualifies as a small company are changing and a new entity (the Micro company) is being introduced. The FRSSE (financial reporting standard for smaller entities) will be abolished. Going forwards, Small Companies will now have to include a profit and loss account in the accounts they...