HMRC are considering changes to the tax rules for partnerships. Changes arising will be included in legislation that will be effective from 6 April 2014. HMRC’s formal consultation closed 9 August 2013 and consideration is now being applied to the following issues: Disguising employment relationships through Limited Liability Partnerships, and Certain arrangements involving allocation of profits and losses among partnership Continue Reading
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National Minimum Wage
Many businesses are unaware that the National Minimum Wage (NMW) rules are monitored by HMRC. There are consequences if you fail to pay employees NMW rates. Currently, the rates set 1st October 2013 apply. They are: 21 and over - £6.31 per hour 18 to 20 - £5.03 per hour Under 18 - £3.72 per hour Apprentice - £2.68 per Continue Reading
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Exam Success for McCleary Team in Final Exams
Congratulations to Neil Ferguson and Elizabeth Laverty, on passing their Final Admittance Exams. They will shortly be admitted to ' Chartered Accountants Ireland' as members, bringing McCleary & Co.'s compliment of fully qualified Chartered Accountants to seven. Qualifying as a Chartered Accountant is a long hard road, that involves huge time commitment, so well done again and we hope both Neil and Continue Reading
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Deliberate tax defaulters
A new list of deliberate tax defaulters has been published by HMRC on 12 November 2013. It includes a number of food retailers, hairdresser, wholesalers, a yacht brokerage, construction industry firms, haulage operator and a property rental owner. HM Revenue & Customs (HMRC) publishes details of deliberate tax defaulters - people who have received penalties either for: deliberate errors in Continue Reading
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