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Maternity Pay

What Do Employees Need To Know? In the UK, there are two types of maternity pay: Statutory Maternity Pay (SMP) and contractual maternity pay. To be eligible for SMP, you must: Be an employee and not self-employed Earn an average…

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Capital Allowances – What Are They?

Capital allowances are tax deductions that a business can claim for the wear and tear or depreciation of its fixed assets. Fixed assets include items such as buildings, machinery, and equipment that a business uses to generate income. When a…

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What is the Flat Rate VAT Scheme?

The flat rate VAT scheme is a simplified method of accounting for Value Added Tax (VAT) that can be used by small businesses. It is designed to make it easier for these businesses to calculate and pay VAT to HM…

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