Whenever a key event, such as a change in legislation is announced, we aim to cover it on our blog; 'The 1st Edition'.

In order provide a quick reference guide to these articles, the main ones are also listed here, with links, as appropriate, to the blog and / or other external links.

To keep up with these updates, please feel free to follow us on Twitter.

Click on the image to the right to follow us online, and we will be happy to return the favour.

You can also keep a track of the various videos posted, via our YouTube Channel:

This channel contains a mix of educational and entertaining videos. To view the 1st Addition YouTube channel, click on the image to the left.

Finally, you can become a fan of 1st Addition Accountancy on Facebook.

Click on the third image to view our company page, and become a fan.

As 31 July rapidly approaches, many of you will be mindful of the need to complete your Tax Credits Annual Renewal Pack.

When submitting a Self Assessment Tax Return, we are allowed to submit our accounts in a simple 'three line' format, as long as our turnover is below the qualifying limit.

This limit has now been increased in line with the VAT registration threshold (currently £68,000)

New TLA Limit

Employers and contractors may be liable to penalties if they do not pay PAYE, National Insurance contibutions, Construction Industry Scheme deductions and student loan deductions on time and in full for periods starting on or after yesterday, 6 April 2010.

New PAYE Late Penalties

This month, HMRC launched its first ever 'Super Podcast'. In it, HMRC experts Stephen Banyard and Don Macarthur discuss forthcoming changes to VAT, PAYE and Corporation Tax filing.

Transcript of HMRC 'Super Podcast'

The Keeping Records Factsheet is the first in a series to be published shortly, by HMRC, giving guidance on a variety of useful topics.

If you're starting out in self employment, or just interested to know what the requirements are, it might be worth a look. 

HMRC Issues 'Keeping Records' Factsheet

1st Addition CEO, Alan Young, has written a 'Complete Guide To Tax & Expenses' for the Home Business Network.

Membership is free, and then so is the Guide.

Essential reading for all new and small businesses, whether home based or not.

Complete Guide To Tax & Expenses

In January 2010 HMRC issued new guidance on current phishing scams now in circulation.

Some of the key scams are now listed on the HMRC web site.

As the incidence of these scams increases, it may be worth checking them out.

HMRC Announces New Phishing Scams

Ever wondered if search is important for video?
.
In November of last year, YouTube surpassed Yahoo for the first time in total U.S. search queries, making it the second largest search engine, surpassed, only, by its owner, Google.

Making The Most Of The Video Revolution.

9 December 2009 saw Mr Darling’s second Pre Budget Report since taking office last year. So, how does it compare with last years, and how will it affect us all?

2009 Pre Budget Summary.

 2009 Pre Budget Report Full Transcript (98kb)

If you work at, or from, home, the part of the property used for work may be liable to business rates, whilst the remainder of the property will continue to be liable to council tax.

Also looks at CGT implications.

Implications Of Working From Home.

HM Revenue & Customs (HMRC) has introduced a special Helpline for anyone affected by the recent floods, where, they say, fast, practical help and advice is available.

The Helpline is available on 0800 3000 157.

 HMRC Flooding Helpline.

If you claim a mileage allowance, you can also claim VAT on the amount, using the HMRC Advisory Fuel Rates.

Advisory Fuel Rates Overview.

Advisory Fuel Rates From December 2009.

October 2009 was been a busy month for changes in legislation. One of these was the increase in holiday entitlement from 24 to 28 days (5.6 weeks) including bank holidays.

Holiday Entitlement From October 2009.

The National Minimum Wage has increased, again, from the beginning of October 2009.

Almost all workers are entitled to NMW, but there are some groups who are not, such as the self employed, apprentices aged under 19, apprentices aged 19 and over, in the first year of their apprenticeship and children of compulsory school age.

National Minimum Wage From October 2009.

From 1 October 2009, the Companies Act 2006 has introduced a set of new forms for conducting day to day company business, & covering everything from Annual Returns to changes in directors, registered office, accounting reference date etc.

Companies Act 2006 Introduces New Forms.

In a bid to move ever closer to the phasing out of paper filing, HMRC have announced new Government proposals in respect of electronic payment & filing, which will become compulsory, from April 2010, for all new businesses, and existing ones with a turnover in excess of £100,000.

Online VAT Changes.

On 2 April 2009, HMRC issued Brief 24/09 covering the new scale rates for day subsistence. (Day rates only, overnight allowances are unaffected).

Their aim is to cover allowable travelling expenses, paid to employees, free of Tax & NI.

Brief 24/09 sets out the framework for the system.

HMRC Introduces 'Benchmark' Scale Rates.

The Companies Act 2006 has made a number of changes, many of which will affect us, as small businesses, and some of which have already been actioned, whilst others kick in from October 2009.

Companies Act 2006 Takes Effect From October 2009.

New research, based on a survey of over 600 employees concludes that staff with mobile technology such as Blackberries work an extra 15 hours a week as they constantly check emails even out of the office, effectively turning many into workaholics.

Blackberry Users Work Extra Hours.

Your tax credits are awarded for a tax year. You are required to renew your claim after the end of each year so that your payments will continue.HMRC need to check whether they have paid you the right money during the year and whether they will carry on paying you the same amount of money going forward.

Tax Credits Renewal Pack.

For those of you just starting out in business, or thinking of doing so, there's a new online resource, set up by HMRC, via Business Link, to help you through a few of the basics, such as starting out in business, National Insurance, record keeping and employing other people.

Online Help For Small Businesses.

The Companies Act 2006 has brought about many changes in recent months.

One of these is the reduction of filing dates for accounts from 10 months to 9 months for private companies and from 7 months to 6 months for plcs.

Companies House Deadlines Cut.

Budget 2009 Summary.

For many, particularly the self employed, 31 March / 5 April is not only the tax year end, but also the financial year for their accounts. For those of you in that position, this could be the time to get in any last minute items of tax planning.

Year End Tax Planning.

On 2 September 2008, we posted details of the new National Minimum Wage for employees.

One question we often get asked is; "How does this affect us as directors"?

Minimum Wage For Directors.

The way HM Revenue & Customs (HMRC) carries out compliance checks (also known as enquiries, visits and inspections) has changed from 1 April 2009.

HMRC Compliance Changes.

 We're all feeling the effects of the recession, but many might be surprised to hear just how much it is now taking its toll on public finances, addording to recently released official figures.

HMRC Hit By Recession.

Many people are now aware of the Fixed Profits Car Scheme.