Category Archives: Payroll

Giving Carter a Kickstart

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We are so pleased to welcome Carter to HB team as our Junior Finance Team Assistant. Carter has joined us for 6 months on the government’s Kickstart Scheme, which provides funding to create new jobs for 16-24 year olds.

Carter has recently secured his A Levels and decided to pursue training, rather than heading off to University. When he has lots of valuable experience under his belt, Carter hopes to find an Apprenticeship scheme or a role that will allow him to develop his natural numeracy skills.

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COVID support schemes are ending, find out what is continuing

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The SEISS fifth grant period ends today as does the furlough scheme, with employers having until 14 October to submit a claim for the latter – as does the VAT reduction for hospitality and tourism to 5%, which will see an increase to 12.5

The ICAEW have issued a handy timeline for the remaining schemes.

Two forms of data are shown in the chart: how much money has been spent or lent on each scheme so far, and each scheme’s end date.

The chart does not include all of the support measures provided by the government or the Bank of England to businesses and individuals, for example the £20 a week uplift in universal credit to those on low incomes that also comes to an end on 30 September or the corporate finance lending facilities provided by the Bank of England to very large businesses.

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What does MTD Making Tax Digital mean for sole traders from 2023 – MTD for Income Tax

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Making Tax Digital for Income Tax Self-Assessment becomes law on 6 April 2023 and aims to make tax accounting easier for businesses and individuals such as sole traders by legislating the digitalisation of tax data and submission.

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HB Accountants are looking for a trainee accountant apprentice and a business administration apprentice to join the team – could an apprenticeship be for you?

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HB Accountants are training firm in Hoddesdon, Hertfordshire, and we are all about empowering and inspiring young people to be the very best versions of themselves. As part of our Corporate Social Responsibility strategy, we have developed an Education Partnership Programme (EPP) and for many years have worked in partnership with Hertford Regional College, taking on apprentices from local schools. 

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Be Prepared – changes to furlough from July 2021

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Furlough has been extended until 30 September 2021, however, the level of grant available to employers under The Coronavirus Job Retention Scheme is set to reduce from 1st July, 2021. This means that employers will need to ‘top up’ wages to ensure that their employees continue to receive 80% of their salary, capped at £2,500 per month.

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Are you using all your Tax Allowances? Use Them or Lose Them – learn more here

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So many people aren’t claiming all of the allowances that they are entitled to – don’t be one of them! HB Accountants are on a mission to let people know (and claim what’s rightfully theirs’ to use) all the allowances and tax breaks, to improve the financial future for themselves and for their families – our Tax Manager Amy is here to help

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How to determine if your worker is employed or self-employed following the new IR35 rules for the private sector from April 2021

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Buoyed by the apparent success of rolling out IR35 into the public sector, HMRC have extended IR35 rules to the private sector with effect from April 2021. If you employ anyone through their limited company or via an agency then you will need to consider the new IR35 rules – read our guide to help you understand more.

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