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Useful Information

In this section we will post articles on general business accounting procedures, changes in legislation, updates on seminars we are putting on or new accounting procedures which might help your business. You can also find here some useful downloads from other sources or that we have prepared ourselves. Ones from external sources and supplied ‘As Is’ and do not imply that we are associated or indorsed by the suppliers (we have to get the legal stuff in somewhere!).

Recent Articles:


Downloads:

Starting a Limited Company - What you need to know

Changes to Company Details/Personnel -Event Driven Filings

National Minimum Wage

Business Mileage Allowances

National Minimum Wage

Clearly, paying the National Minimum Wage is an important legal requirement, but what are the current rates? Here is a quick guide to the rates in force (from October ‘13), just in case you are not sure! Remember, if you are already a client you can always ask us to be on the safe side!

The rate depends on the age of the employee. whether or not they are on an apprenticeship scheme, and of course, the employee must be of school leaving age.









Year

21 and over

18 to 20

Under 18

Apprentice*

2014

(Current Rate)

£6.50

£5.13

£3.79

£2.73

2013

£6.31

£5.03

£3.72

£2.68

2012

£6.19

£4.98

£3.68

£2.65

2011

£6.08

£4.98

£3.68

£2.60

2010

£5.93

£4.92

£3.64

£2.50

*This rate is for apprentices under 19 or those in their first year. If they are 19 or over and past the first year they qualify for the rate that applies to their age (e.g. someone in the second year of their apprenticeship who is 21 would get £6.31 per hour this year).

Business Mileage Allowances

You could be claiming money back if you are employed and use your car for business purposes!

With many companies no longer providing company cars, more and more people are using their own car for work.  Even if your employer pays you a mileage allowance, you may STILL be able to claim back mileage on your tax return!

Am I eligible?

If you are employed and use your own car for business purposes, you are entitled to claim a mileage allowance.

How much could I claim?

The good news is you can claim back the tax for this current tax year and also the previous three! Do the sums: you could be owed thousands, depending on your mileage/vehicle. You can even claim for fellow workers who are passengers! You can even claim if you ride a bicycle!

Is there a cost involved?

Only if you get some money back! No Win-No Fee means you only pay us if your claim is successful. Then you pay us a fee of £50 or 15% (whichever is greater) from any successful refund.

What sort of allowance will I get?

As of March 2013 the approved mileage rates are:















So even if your company paid you 20p per mile last year, you could STILL claim another 25p per mile rebate from HMRC!

Why Gaffney Accounting?

At Gaffney Accounting we build relationships: we give you sound advice to help you optimise your finances and ensure you get what you deserve.

So why not call Gaffney Accounting Ltd today for a friendly, no obligation chat and we'll put you on the right road to claiming your unpaid mileage allowances!









From 2002-03 to 2010-11

First 10,000 business miles in the tax year

Each business mile over 10,000 in the tax year

Cars and Vans

40p

25p

Motor Cycles

24p

24p

Bicycles

20p

20p

From 2011-12

First 10,000 business miles in the tax year

Each business mile over 10,000 in the tax year

Cars and Vans

45p

25p

Motor Cycles

24p

24p

Bicycles

20p

20p