All employees are entitled to a payslip. Payslips can be in paper format, be emailed or accessed through a website. How payslips look can vary from employer to employer, but the following information must be included: Gross pay – the employee’s earnings before any deductions Net pay – the employee’s earning after deductions (this is…

Keeping records to support tax or VAT returns is a legal requirement in the UK. To ensure you are paying the correct amount of tax, HMRC will need to see a record of your figures each tax year. Failure to supply accurate records could result in legal action. Benefits of Good Record Keeping Keeping track…

Why not let us manage your accounts? Why Use Aston Black? When starting your own business, handling accounts can be daunting, but here at Aston Black we take away the hard work, so you can focus on running the actual business. A long-established accounting firm, based in Milton Keynes with 25 years experience, we have…

As a Sole Trader, one of the upsides is being able to work for yourself, choose your own hours, your own jobs, having no-one to answer to. But a huge part of being self-employed, or a sole trader as it is otherwise known, is that you have to calculate and pay your own taxes, rather…

So you’ve started a bit of a side hustle. Great work. And you are actually starting to see the money coming in from all that hard work. Amazing! But don’t forget that all income must be taxed, and you don’t want to feel the sting of HMRC when you get a letter in January telling…

Many of us will have a hobby, creating a product or service, that at first, friends and family start to request, then a neighbour then the friend of a neighbour… But how do you know when HMRC will see your hobby as a trading company? And when will you be liable to register with HMRC?…

Which one is right for you? There are primarily two platforms for your accounting and bookkeeping: Cloud-based and desktop. Although getting your head around a new software that will keep some of your most confidential and important information can be daunting, with the changes coming from HMRC in April 2019 with Making Tax Digital it…

Contracting often means travelling to different workplaces. During the winter months, this can be especially tough as there’s no guarantee that the place you’re visiting is actually going to be warm. What can you do during the winter months when the journey to and from, and even being on site can feel freezing cold? There’s…

Off-payroll is currently in full-effect in the Public sector. However, following consultation, the government has delayed implementation of the Off-payroll rules until April 2020. It has also limited the new rules to medium and large-sized end-user businesses. Small businesses will not be required to apply the new rules. The Off-payroll amendments were introduced by the…

With the current political and economic uncertainty 2019 could be a turbulent year for the UK. However, there may be opportunities and developments that small business owners in the UK may be able to take advantage of. As a small business accountant, our team are specialists who are fully-equipped to help you overcome any challenges…