National Minimum Wage and National Living Wage Increases.
National Living Wage Age Extension
20/21 Year End
EasyBooks Price Changes
We would like to ask if you know we have any paperwork, past or present belonging to you stored at our office, please, can you call us to make arrangements to collect it.
It is very important that you call first to make an appointment and that you do not just ‘pop’ or ‘nip’ in to collect it. This is so we can adhere to the social distancing rules which are still in place at our office.
If you are unsure that we have any paperwork belonging to you, we are currently drafting a list and will be in touch with you soon if necessary. Thank you.
The National Living Wage & National Minimum Wage
|Rate from April 2020||Rate from April 2021||Increase|
|National Living Wage|
|23-Year-Old and above||£8.72||£8.91||2.2%|
|National Minimum Wage|
- Check and make a note of all employees over 23 who are eligible in your workplace for the new National Living Wage.
- Take appropriate payroll action.
- Inform your employees of their new pay rate.
- Check all other employees 22 and under are receiving the correct wage under the National Minimum Wage.
Financial Year End Paperwork
Can you believe that it is already March! In the world of accounts, we know that this means it is almost the end of the financial year for 2020/21. Where did all that time go? This time last year we were headed into uncharted territory of new ways of moving the office into our homes and unfamiliar words appeared such as furlough and social distancing.
For many self-employed people it has been a roller coaster of a year. Even though some have been busy and working a vast majority of you may not have. However, whatever has been the case we will need your paperwork for everything you have earned over the tax year from 6th April 2020 to 5th April 2021. This includes income from employment, self-employment, income from property and interest and gains on your savings and investments.
If you’re unsure what to leave in or out, let us have it all and our expert team can do the sorting for you and put aside what HMRC does not require.
Don’t forget there are expenses you can claim for too, find what you can and can’t claim for by clicking on the link below.
- Bank statements and cashbook records
- Loan/HP agreements
- Details of all business transactions
If you receive a rental income
- Information relating to your property income
- Expenditure in 2020/21 (e.g., mortgage interest, repairs)
- P60 – from your employer showing your income and the tax you’ve paid on it
- P45 – if you have left a job within the tax year
- P11D or P9D – detailing benefits and expenses relating to employment
- Pension income details
- Interest on bank or building society accounts
- Dividends from investments
Please remember to include any of these items that are relevant to you.
- Chasing for paperwork may lead to a pause in your self-assessment being processed.
- We are not obligated to remind clients individually to bring in their self-assessment paperwork.
Please Note: EasyBooks will be implementing a 2% price increase, across the board. We have not issued a price increase for 2 years. The only exception will be the Pension auto enrolment, this will remain the same.
We also want to make you aware that we will now be a small charge for completing furlough claims. Even though we have not charged for this service of the past year, it is exceptionally time consuming and therefore it is necessary for us to introduce a charge from April 2021.
The fee will be based on the number of employees on the claim, as each employee has to be entered individually on the claim form for HMRC.
If you have any queries regarding our price increases, please get in touch with us and we will be happy to advise you.
If you would like to speak to any of our team about your financial circumstances or concerns, please feel free to get in touch and they will offer the best advice that they can. You can also check out the Gov.uk website and Gov.wales website for the information you may need.
- Posted by EasyBooks
- On 26th March 2021
- 0 Comments