Are you looking for a career in accountancy or maybe looking for a new challenge to expand your accountancy skills. Then have a look at the type of roles we are looking for at Careers at Mcginty Demack
So, if you are looking to join McGinty Demacks’ apprenticeship programme, or if you are already experienced in the accountancy field then why not apply. Complete the application form on our website.
To help with connecting Quickbooks and Online Banking McGinty Demack have produced a fact sheet.
Quickbooks will soon be updating the way they link to your bank. This is to improve the connection and help provide a better service.
To help keep you informed of this change please see our FAQ sheet below. If you have any questions please do not hesitate to contact us.
The government has launched a consultation on proposed reforms at Companies House, including a ‘major upgrade’ of its register.
The consultation aims to tackle misuse of the register. It also strives to provide business owners with ‘greater protection from fraud’.
The consultation seeks views on a series of reforms to limit the risk of misuse:
Louise Smyth, Chief Executive of Companies House, said:
‘This package of reforms represents a significant milestone for Companies House as they will enable us to play a greater part in tackling economic crime, protecting directors from identity theft and fraud, and improving the accuracy of the register.’
The consultation is open until 5 August 2019.
Internet links: GOV.UK consultation GOV.UK news
A capital gains tax (CGT) exemption applies when an individual disposes of a dwelling that has been used as their only or main residence under the Private Residence Relief (PRR) rules. The exemption applies as long as the relevant conditions are met throughout the total period of ownership. This relief is supplemented by ancillary reliefs that aim to deal with other related situations.
The government has previously announced and legislated to reform two of the ancillary reliefs to better target PRR at owner-occupiers. The reliefs which are being amended are:
These changes will take effect from 6 April 2020. The government is now consulting on the changes in more detail and on how they will work in practice. It also invites views on some technical aspects of the PRR rules.
Internet link: GOV.UK consultation
A recent Low Pay Commission (LPC) report sets out its findings on the number of people being paid less than the statutory minimum wage.
The LPC found that, in April 2018, 439,000 workers were paid less than the National Minimum Wage (NMW). Of this amount, 369,000 were employees aged 25 and over, who were paid less than the National Living Wage (NLW), an increase from previous years. On 1 April 2019, the NMW and NLW rates rose to the hourly rates detailed below:
| Minimum wage rate | Hourly rate from 1 April 2019 |
|---|---|
| National Living Wage (for workers aged 25 and over) | £8.21 |
| 21-24 year-old rate | £7.70 |
| 18-20 year-old rate | £6.15 |
| 16-17 year-old rate | £4.35 |
| Apprentice rate | £3.90 |
| Accommodation Offset | £7.55 per day: £52.85 per week |
The LPC also revealed that women are ‘more likely’ than men to be paid less than the NMW, and that underpayment is common amongst younger and older workers. In addition, underpayment was more common in certain sectors including hospitality, retail, cleaning, maintenance and childcare.
Commenting on the findings, Bryan Sanderson, Chair of the LPC, said:
‘Our analysis reveals a worrying number of people are being paid less than the minimum wage. We recently celebrated 20 years of the minimum wage – it has raised pay for millions of workers, but it is essential that people receive what they are entitled to.’
‘It is also vital for businesses to be able to operate on a level playing field, and not be illegally undercut on wages.’
Contact us for help with payroll issues.
Internet link: GOV.UK news
