From 1 April 2026, the UK Government is increasing the National Living Wage (NLW) and National Minimum Wage (NMW) rates. If you run payroll (or employ anyone at or near minimum wage), now’s the time to check pay rates, salary calculations and budgets, so you’re compliant from day one. The new hourly rates from 1 April 2026 These are the … Read More
Wage and Salary Changes to be aware of from April 2023
The government announced in their Autumn statement that from April 2023 there will be some important changes that will affect wages and salaries. Income Tax changes The additional rate threshold for the 45% tax rate will move from £150,000 to £125,140. All other income tax thresholds will remain at the current rate until April 2028. National Living Wage and National … Read More
What does an accountant want?
Whether you’re a bookkeeper or a business who deals with their accountant directly it’s important you understand what they need from you. Some accountants will do the bookkeeping all the way up to year end accounts, but the majority concentrate on year end, leaving the preparation of accounts to the bookkeeper. I have a 12- Steps Year-End course which shows … Read More
Employee or Sub-Contractor?
When deciding to take on a new member of your team it’s important to weigh up the options available to you. If choosing to take on a freelancer rather than employ then there are factors which you need to consider. Will the sub-contractor be providing their services to you through a limited company, partnership or unincorporated association? If the answer … Read More
What’s new in V27.2?
In the latest version of Sage 50cloud Accounts (v27.2) Sage have introduced various new features, one of which is a new tax code being introduced – T14 for ‘Import of goods-No VAT’ which affects box 7, no VAT. We’re delighted to announce that our Sage 50 Accounts Support Community was instrumental in this new tax code being introduced, well done … Read More
What VAT Code should I use for bank charges paid?
At Sage Accounts Solutions we get so many questions about tax codes. We’ve had lots of recent questions arise in our Facebook Groups too, where like minded Sage users hang out and help each other with queries just like this. If you’re not already a member, then please join us! What code should you use for bank charges paid? It … Read More
Changes to wording on VAT returns from 8th April 2021. What’s changed and why?
The way in which VAT returns have been worded has changed, this was implemented as of the tax year 2021/22. The wording will not impact your VAT return or the way you should report. It’s been introduced to measure clarity to the recent changes due to Brexit. If you are using Sage 50 in order to prepare your VAT returns … Read More
What Sage 50 VAT tax code should I use for toll charges?
VAT can be a complex topic and what VAT codes to use in Sage 50 Accounts can be confusing. If you’re not sure what VAT tax code to use in Sage 50 for the toll charge expenses your business incurs, you’re in the right place as we train and support users of Sage 50! Here we explain exactly what VAT … Read More
What’s new in the Sage 50cloud Accounts and Sage 50 Accounts v27.1 release?
Following the release of the latest version of Sage 50cloud Accounts and Sage 50 Accounts, v27.1, we thought we would put some facts together for you about what’s new. What’s new in Sage 50 Cloud Accounts? The new upgrade gives you assistance to ensure that you are Brexit compliant, with the introduction of new tax codes. Download our latest Post-Brexit … Read More
