Payroll Weston super Mare

Payroll / operating a PAYE scheme

A brief introduction to the Pay As You Earn Scheme:

The PAYE regime is the system of tax collection where employers deduct income tax and national insurance contributions (NICs) from an employees wage. This can be deducted weekly or monthly.

The PAYE system was originally designed to be a simple method of collecting tax at source, however over the years is has become increasingly more complicated with a variety of tax codes being introduced. Cases of employees paying too much or too little tax has become more common in recent years.

eNews - October 2014

Creating Extra Cash-flow 

Could your creative company benefit from a boost to its cash flow? If it produces computer games, films, high-end TV or animation programmes, it may qualify for a new payable tax credit.

All of these products can qualify for extra tax relief if they can be certified as culturally British, and at least a quarter of the core production costs are incurred in the UK. There are some other conditions:

- only businesses trading as companies can qualify for the tax relief, not individuals or partnerships; and- the product must be intended for release to, or to be broadcast to the general public, not produced for training or advertising purposes.
High-end TV programmes are essentially quality drama; not news, current affairs or quiz shows. Unfortunately producing original music doesn't qualify as a creative product for these tax reliefs.