Thomas Adward

  PAYE (Pay As You Earn) is the UK system where employers deduct Income Tax and National Insurance Contributions (NICs) from employees' wages before they're paid. This ensures employees pay the correct amount of tax throughout the year, rather than through a lump sum at the end. Key Elements of PAYE Tax Calculation To calculate PAYE tax correctly, you’ll need to understand the following components: 1. Tax Code Every employee is assigned a tax code by HMRC. This code tells the employer how much tax-free income the employee is entitled to. For example, a tax code of 1257L means the employee can earn £12,570 tax-free in a year. 2. Income Thresholds (2025/26) Income tax bands for England, Wales, and Northern Ireland: Band Income Range Tax Rate  Personal Allowance    Up to £12,570     0%      Basic Rate   £12,571 – £50,270    20%    Higher Rate   £50,271 – £125,140    40%  Additional R...

 For many employees, payslips are something they glance at briefly and then forget. However, understanding your payslip is vital for keeping track of your earnings, deductions, and overall financial health. In the UK, it's also your legal right to receive one. Whether you’re full-time, part-time, or on a zero-hours contract, your payslip holds essential information that can impact your finances in more ways than you might think. What Is a Payslip? A payslip is a document given to employees each payday that details their earnings before and after deductions. It’s also known as a wage slip or pay statement . By law, all UK employees must receive a payslip on or before payday, either in digital or printed form. Key Information Found on a Payslip A standard UK payslip will typically include: Gross pay – total earnings before deductions Net pay – the amount paid after all deductions National Insurance (NI) contributions Income tax (PAYE) Pension contributions ...

When running a company in the UK, receiving a legal notice or official document can be stressful, especially if it involves a dispute regarding your company’s registered office address. If you find yourself in a situation where an address has been used without authorisation, the RP07 form is the official method to request its removal from the Companies House register . This guide explains what an RP07 form is, when to use it, and the process for submitting one. What Is an RP07 Form? An RP07 form is an application submitted to Companies House to request the removal of a registered office address that has been used without consent. This situation often arises when a business is unknowingly registered at an address belonging to someone else, such as a landlord or previous tenant. When Should You Use an RP07 Form? You should submit an RP07 form if: A company has registered its official registered office address at your property without your authorisation . You are the owner, occupier, ...

 The NEST (National Employment Savings Trust) Pension Scheme is a UK government-backed workplace pension scheme designed to help employees save for retirement. It was introduced as part of the government’s auto-enrolment initiative to encourage more people to build their pension savings. How Does the NEST Pension Scheme Work? NEST operates as a defined contribution pension scheme, meaning the amount received at retirement depends on contributions made by the employer, employee, and investment growth over time. Key Features of NEST Auto-Enrolment – Employers must enrol eligible employees into a workplace pension scheme, and NEST is one of the default choices. Employer & Employee Contributions – Both employers and employees contribute a percentage of the employee’s salary to the pension scheme. Tax Benefits – Employee contributions receive tax relief from the government, increasing overall pension savings. Flexible Access – Employees can access their pension savings from the...

 Every UK-registered company has certain filing obligations with Companies House, the official registrar of companies in the UK. Missing these deadlines can result in financial penalties, reputational damage, and even the risk of your company being struck off the register. Understanding these deadlines is crucial for maintaining compliance and ensuring smooth business operations. This guide provides a complete overview of the key Companies House filing deadlines and how to meet them on time. Why Are Companies House Filing Deadlines Important? Filing deadlines exist to ensure that accurate and up-to-date information is available about UK companies. Companies House uses this information to maintain transparency and integrity in the business environment. Failure to file on time can result in severe penalties, potential legal actions, and even compulsory dissolution of the company. Key Filing Deadlines for UK Companies 1. Confirmation Statement (CS01) Deadline: Must be filed at least...

 Balancing a full-time job while pursuing content creation part-time can complicate tax responsibilities. As a part-time influencer, understanding how to manage your taxes efficiently is vital to ensure compliance and optimise your earnings. Here are key tips to guide you. 1. Understand Your Taxable Income Income from sponsorships, affiliate marketing, ad revenue, or gifted items is considered taxable. Even if influencer work is part-time, HMRC requires you to declare all earnings that exceed £1,000 annually through a self-assessment tax return. 2. Track Income and Expenses Maintain clear records of all income and expenses related to your influencer work. Deductible expenses may include equipment, software, travel, and even a portion of home office costs. Partnering with accountants for influencers ensures you claim all eligible deductions without errors. 3. Register as Self-Employed If your part-time influencer income exceeds £1,000, you must register with HMRC as self-employed. ...