by support@informanagement.co.uk | Sep 10, 2026 | Corporation Tax
A company does not have to be formally closed to become dormant for Corporation Tax. A company is usually considered dormant if it has stopped trading and has no other income, such as investment income. A new limited company that has not yet started trading can also...
by support@informanagement.co.uk | Sep 10, 2026 | Payroll
Employers must make sure their staff receive at least the National Minimum Wage or National Living Wage rate that applies to them. The correct rate depends on the worker's age and, in some cases, whether they are an apprentice. Since 1 April 2026, workers aged 21...
by support@informanagement.co.uk | Sep 10, 2026 | Income Tax
Self-employed people can choose to use simplified expenses to calculate certain business costs using flat rates rather than working out their actual expenses. The system can save time and make record keeping easier, but it will not necessarily produce the best tax...
by support@informanagement.co.uk | Sep 10, 2026 | Income Tax
Self-employed people can deduct allowable business expenses when calculating their taxable profits. However, where a cost has both a business and private element, only the business proportion can normally be claimed. For example, if a mobile phone bill is £200...
by support@informanagement.co.uk | Sep 7, 2026 | Payroll
The Government has named nearly 660 employers for failing to pay workers the National Minimum Wage, highlighting how costly National Minimum Wage compliance failures can become. The latest naming round, published on 3 September 2026, involved around £4 million...
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