In early 2017 Tax-Free Childcare will be launched. One of the points that jumped out at us and thought you might like to know is that self-employed parents will be able to get support with childcare costs in the Tax-Free Childcare, not like the current Employer-Supported Childcare scheme.
So, what is Tax-Free Childcare?
- Tax-Free Childcare will be available to around 2 million household to help with the cost of childcare with a registered provider, enabling more parents to go out to work.
- For every 80p you (or someone else) pays in, the government will put in an extra 20p. This is equivalent to the 20% tax that most people pay. The government will top up the account with 20% of childcare costs up to a total of £10,000 – the equivalent of up to £2,000 support per child per year (or £4,000 for disabled children).
- You can pay money in when you like, giving you the flexibility to pay in more some months and less in others. This could enable you to build up a balance in your account to use at times when you need more childcare than normal.
- It’s not just parents who can pay in – grandparents, other family members and employers may also pay in.
- The scheme will be available for children up age 12, and up to the age of 17 for children with disabilities.
Do you qualify?
- Tax-Free Childcare doesn’t rely on employers offering the scheme, unlike the current Employer-Supported Childcare scheme.
- The scheme aims to be flexible for parents. To qualify parents will have to be in work and each earning around £115 a week, but no more than £100,000 each per year.
- You will be able to get support from this scheme if you are self-employed parents. To support newly self-employed parents, the government is introducing a ‘start-up’ period. During this, self-employed parents won’t have to earn the minimum income level.
What will you need to do?
- You will open an online (National Savings & Investment) account in to which you can pay in to, to cover the cost of childcare with a registered provider. This will be done through the government website, GOV.UK.
- The scheme will be rolled out gradually to families, with parents of the youngest children been able to apply first. You will be able to apply for all your children at the same time as soon as your youngest is eligible.
- All parents will be able to join the scheme by the end of 2017.
- There will be a simple log in service for you to view your accounts for all your children at once and review your circumstances every 3 months.
Do I have to swap schemes?
- If you currently receive Employer-Supported Childcare then you may continue if you desire as the Employer- Supported Childcare scheme will continue to run. The current scheme will remain open to new entrants until April 2018 – parents already registered by this date will be able to continue using it for as long as their employer offers it.
Here at Business Works we have done various calculations to work out which scheme would be best for some of our clients, taking in to consideration earnings, childcare costs, taxable income and salary sacrifice.
If you would like us to look at your circumstances or would like more information please do not hesitate to get in touch with us.
Source: gov.uk
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The legal and compliance burden put on businesses through the need to submit tax returns and other such documents to strict deadlines is often one of the most stressful elements of running a business.
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When it comes to supporting small enterprises, helping them grow whilst avoiding regulatory and commercial pitfalls, we have a weath of experience, expertise and a kettle - a very good kettle. If you think we could be a good fit, get in touch to see how we can add value to your business.
THE ROLE
You will be required to deliver work across a portfolio of clients, as part of a close knit team, ensuring the highest possible standards of client service at all times and taking an active role in the growth of the business.
- Preparing statutory and trading accounts
- Preparation and review of VAT returns
- Preparation and review of Corporation tax returns
- Preparation and review of Personal tax returns
- Maintaining records and management information
- Overseeing bookkeeping tasks of junior colleagues and trainees
- Attending client meetings
THE PERSON
The successful candidate will ideally be ACA / ACCA qualified, however candidates in the final stages of the qualifications or qualified by experience may also be considered for the role.
This position is suited to an accountant with experience of a working in an Accounting Practice.
THE PACKAGE
This is a part time position offering between 16 and 30 hrs per week. It can be flexible with regards to hours/days worked. However, for the right candidate full time may be considered.
The salary is negotiable depending on experience and qualifications. Free parking is available on site, and the practice is easily accessible by road.
If you’re looking to work in a friendly office for a fast growing company in a very hands on role, then please send your CV to us today.
Please email full CV to helen.cooper@businessworksuk.co.uk
Our Services
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Access to Finance
If your business is growing, then you may need to access some sort of finance product to facilitate your growth. With so many products available, it can be bewildering. How do you work out how much you need, for how long and which product/or products are right for you?
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Cloud Accounting
If your business is growing, then you may need to access some sort of finance product to facilitate your growth. With so many products available, it can be bewildering. How do you work out how much you need, for how long and which product/or products are right for you?
Pop in or give us a call
We'd love to hear from you
When it comes to supporting small enterprises, helping them grow whilst avoiding regulatory and commercial pitfalls, we have a weath of experience, expertise and a kettle - a very good kettle. If you think we could be a good fit, get in touch to see how we can add value to your business.
We have a brilliant opportunity to join our team.
JOB DESCRIPTION
- Attendance at college, completion of all college work and exams
- Undertaking client bookkeeping, using spreadsheets and various accounting software
- Bank reconciliations
- Assisting with the preparation of accounts and tax returns
- Client administration
- Liaising with clients to ensure ‘books’ are received in a timely manner
- Payroll assistance
- VAT assistance
- Potential client administration
- Company secretarial work for Limited Company clients
- Answering the telephone and handling queries
- Monitoring the generic email inbox and respond to queries
- Maintaining spreadsheets to update budgets
- Advising project managers on invoicing, expenses and financial aspects of proposal-writing
- Attendance of events, sometimes outside of office hours
- General office duties to include, but not limited to, ordering stationery, making refreshments
PERSON SPECIFICATION
- A desire to pursue a career in accounting
- Strong oral and written communication skills
- Very good organisational and time management skills
- Good IT skills
- Very good analytical thinking and problem solver
- Acute attention to detail
- Friendly and personable
- English and Maths GCSE grade C or above
To apply please email CV and covering letter to helen.cooper@businessworksuk.co.uk
Our Services
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Other Accounting Services
We offer a full range of supplementary accounting services and complimentary business services that will help your business thrive and prosper. All our services and come with a friendly approach, which is of course, free of charge!
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Cloud Accounting
If your business is growing, then you may need to access some sort of finance product to facilitate your growth. With so many products available, it can be bewildering. How do you work out how much you need, for how long and which product/or products are right for you?
Pop in or give us a call
We'd love to hear from you
When it comes to supporting small enterprises, helping them grow whilst avoiding regulatory and commercial pitfalls, we have a weath of experience, expertise and a kettle - a very good kettle. If you think we could be a good fit, get in touch to see how we can add value to your business.