More recent posts
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Minimum Pension Contribution Increases to come into effect this April
The minimum auto enrolment pension contributions are set to increase this April, and again in April 2019. The minimum contribution will increase from 2% to 5%. Employers must…
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National Minimum Wage set to go up from 1 April 2018
The National Living Wage and Minimum wage will change on 1 April when new rules announced in 2017 come into effect. 1 April will also see an increase…
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Empty Dwelling Renovation
Contractors carrying out the renovation of dwellings that have been empty for two years or more can still apply the VAT reduced rate of 5%. Although this has…
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Prosecuted for failing to provide a workplace pension
A bus company and its managing director will have to pay more than £60,000 after they admitted trying to avoid giving their staff workplace pensions. This is understood…
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Autumn Budget 2017 – the review for private businesses
As always, this Budget speech was a dry affair, with macro-economic statistics, policy spending and crystal ball forecasting in high order. Magma’s Budget review concentrates on its impact…
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Person with Significant Control (PSC) Register Changes
From 26 June 2016 Companies and LLP’s have been required to keep a register of Persons with Significant Control (PSC). A PSC being defined as a person and/or…
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Making Tax Digital – New proposals on VAT
On 13 July 2017 the Government announced that Making Tax Digital for VAT will come into effect from April 2019. From that date, businesses with a turnover above…
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Government proposes new fund to support UK startups after Brexit
The Government has proposed setting up a national investment fund to help UK start-ups, which it says receive less funding than their US counterparts. British businesses can currently…
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Magma reaches Gold Partner status with Xero
Magma are pleased to announce that they have recently achieved Gold Partner status with Xero, the multi award winning global leader in cloud-based accounting software. In partnership with…