Travel, Tourism and Hospitality
PAYE and Employers
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over 3 years ago
Musicians Union agreement
I have a client who has received a severance payout from a London theatre under the SOLT/MU agreement. The client has resigned from the relevant show after more than 5 years there. He is self-employed...
Dividend tax 7.5% adjusted in PAYE coding for 2016/17
I have just been forwarded a tax code notification from a client which shows an adjustment for dividend tax in the PAYE tax coding notice. Am I right to assume this is just HMRC's way of collecting tax...
PAYE codes 2016/17
I have just received my P2 "explaining" my tax code for 2016/17, as I'm sure many taxpayers will have. Why are the notes so misleading? 1. Untaxed interest - all interest from banks will be untaxed in...
Payments on account of Class 2 NI for 2015/2016 within self-assessment
Are payments on account due in respect of class 2 NI for self-assessment, as they are for class 4 NI, or should it be treated like student loan repayments and excluded from calculation of payments on...
SA400 and SA400 advice needed please
Hi , I am trying to register my new business as a partnership and am slightly confused by the following questions, I don't want to guess and end up answering incorrectly so any advice would be much...
New Enterprise Allowance - taxable or not?
over 3 years ago
A new client has been receiving New Enterprise Allowance. Please can someone tell me (with authority for the answer) whether it is taxable or not. Depending on who I ask and where I look, the answer is different. Gov.uk says that 'any money you get does not affect income tax' implying that it is tax-free. However, BIM40401 says that it is business income - how then can it not affect income tax? Which is correct please?
over 1 year ago
Isn't NEA payable to the unemployed person who starts a new business after being on JSA for six months? I'm not sure why you might think it would be subject to CT - it is not company income. HMRC is presumably telling you that the individual has to report it as miscellaneous income on his SA return.
If the new business is in a company, any of the NEA that the claimant pays into the company would be capital, wouldn't it?
8 months ago
in reply to
How do I apply for Enterprise allowance
4 months ago
in reply to
As much as I'd like to say the New Enterprise Allowance is a positive, entrepreneurial enticing experience I have to say the opposite. The mentoring at the very beginning is extremely helpful if you're not knowledgeable of business plans and cash forecasting, however when you are referred back to your Job Centre, it becomes very troublesome.
The main issues are that to be entitled for the allowance, you have to provide continuous proofs. This can work really well for businesses such as face to face enterprises, however if your startup is internet sphere; I'd personally avoid entirely.
The information the Job Centre requests initially is proof of trade. Internet start ups are very different to physical startups (f2f) in that there is much more involvement in building and developing your internet presence and this is something that cannot always been quantified and proved.
In my experience, the Job Centre staff were unable to understand the extent of work that goes into making a business and that there is an awful lot of planning needed. For example, upgrading a website or application can take in excess of 2 weeks if working on it full time. The job centre required a minute by minute account of what I was doing and screenshots.
As you can imagine, the experience has been so awful, that it would put any individual off pursuing a future past benefits.