The new National Living Wage of £7.20 per hour came into effect on 1 April 2016.
- Will it apply to you?
- How is it different to the minimum wage?
- Does everyone get it?
Review our brochure by clicking here to read a brief review.
TAX CHANGES COMING INTO FORCE
There are a raft of new tax changes coming into force on 6 April 2016.
Find enclosed our newsletter which provides a summary of the changes which may affect you.
NI CORPORATION TAX RATE
The NI corporation tax rate is scheduled to reduce to 12.5%, well below the standard rate for the rest of the UK.
Will it apply to you?
Contact us to be sure but click here for a brief summary of the conditions.
PERSONAL SAVINGS ALLOWANCE
How much is the personal savings allowance?
Basic-rate (20%) taxpayers – will be able to earn £1,000 interest with no tax (so a max tax saving of £200 compared with before).
Higher-rate (40%) taxpayers – will be able to earn £500 interest with no tax (so a max tax saving of £200 compared with before).
Additional-rate (45%) taxpayers: £0 – they do not get an allowance.
Interest that is already tax-free isn’t included – so this includes ISA interest and Premium Bond ‘winnings’. Interest from these will still be paid tax-free, it just won’t count toward your PSA limit. So, if you get £500 in ISA interest, and you’re a basic-rate taxpayer, you’ll still have £1,000 of PSA to cover other interest.
COMPANIES HOUSE CONFIRMATION STATEMENT
From June 2016, annual returns will be replaced by a confirmation statement.
To review what this means and what the changes are, click here.
BMC ACCOUNTANTS SPONSOR EDENDORK GAC FUNDRAISER
BMC Accountants Ltd helped launch the Edendork GAC bike race from Kildare to Tyrone on Saturday 28th May 2016 in memory of their former club chairman Dessie Fox. Dessie, who was brother in law of our managing director Brian McCullagh, was murdered in 1990 when he was robbed on his way to the racetrack with his float as a bookmaker. Those responsible have never been caught and the fundraiser was used to appeal for new information on the attack. Find more information on the RTE website here.
BMC ACCOUNTANTS SPONSOR ST JOHN BOSCO
We have renewed our sponsorship of St John Bosco GAA for 2017 and the managing director, Brian McCullagh , joined the team at their most recent All County Down League game to present them with their new jerseys.
We are proud to give back to the local community and St John Bosco GAA provide an outlet for hundreds of young men, women and children to play sports as well as providing a social outlet for the wider community.
We wish them well for the coming season.