News2022-02-21T10:53:32+00:00

Up to date news about Amica Accounting and our industry.

Optimum Directors Salary 2022/23

The optimum directors salary 2022/23 will be changing and is changing to £11,908 per annum, which equates to £992 per month or £229 per week. This is the most tax efficient amount for the majority of directors to pay themselves. Owner managed businesses can typically decide how to pay themselves. This can be either a salary, dividends or a mixture of them both. Directors, which have no other income should look to pay themselves the [...]

Ten tips to help you avoid common bookkeeping errors

Trying to do it all yourself You pay an accountant to add valuable advice on how best to keep records and maintain accounts – not just to add up receipts. If your books are well ordered and up to date, they’ll have time for a discussion as well as filing your mandatory tax return. Not saving receipts for small amounts They may not be required by law but receipts for small amounts can provide backup [...]

The Pros and Cons of Credit Cards

Credit cards have become a vital financial tool. They can be used to make purchases you don't currently have the cash for, or to purchase something from a remote seller without having to wait for a physical check to be delivered. If you’re trying to decide whether to get credit cards or knock them completely, consider the pros and cons and decide whether they would be advantageous in your life. The Truth about Credit Card [...]

Five things EVERYONE should know about student finance

When you talk to people about Student Finance, you’ll get different opinions and facts depending on who you speak to. When you’re deciding whether or not to go to University, don’t take advice from people who are in a different financial situation to you. You need to look at the facts and how it will practically affect your pocket. And that is radically different to what you usually hear. The student loan price tag can [...]

Tax on gifts to employees & directors

Can you give directors and employees free gifts from the company in a tax free way? Providing small gifts to your employees throughout the year can be a great way to generate enthusiasm, motivation and engagement and raise team morale. But what can you give away before there starts to be tax implications for both the company and the employee? And what about the the rules to your directors? There is good news. You can [...]

How do I pay myself from a limited company?

Whilst sole traders generally pay themselves directly out of any business profits, there are more options available to the owners of limited companies. This creates greater opportunities for tax efficiency and planning.

Setting Goals and Targets… and how to hit them!

Let’s face it, we all have changes we want to make and goals we want to accomplish. A recent study showed that a HUGE 92% of people set New Year’s Eve goals however never achieve them. So why do we find it so hard to actually carry out these changes?

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