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Category: <span>Payroll</span>

Tax Update January 2025

Happy New Year everyone! In this edition we take a look at getting ready for Making Tax Digital, the Corporate Tax Roadmap, Payrolling Benefits in Kind, an HMRC scam warning and upcoming dates on the accounting horizon. GET READY FOR MAKING TAX DIGITAL FOR INCOME TAX Prior to the Autumn…

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Payrolling Benefits in Kind

‘Payrolling benefits in kind’ means that employee benefits in kind (eg. company cars and medical insurance) are reported to HMRC through the employer’s payroll. Employees’ tax codes are amended so that any income tax due on the benefits is paid throughout the tax year. If a benefit has been payrolled,…

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Paying Employees Early Before Christmas

As the holiday season approaches, many businesses may need to pay their employees earlier than usual due to closures or other operational adjustments. Important Note Regarding Early Payments: HMRC Guidance: HMRC has relaxed RTI reporting obligations for early Christmas payments. Accurate Reporting: When submitting your Full Payment Submission (FPS), report…

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Are you National Minimum Wage compliant?

As HMRC intensifies its crackdown on National Minimum Wage (NMW) non-compliance, it’s vital to make sure you don’t fall foul of NMW laws. Compliance can have more complexities to it than many assume, and the risks of getting it wrong are significant. HMRC is focusing on SMEs It seems that…

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P11D form submission deadline rapidly approaching

The deadline – 6th July – for reporting expenses and benefits to HM Revenue & Customs (HMRC) is rapidly approaching. It’s important for all employers to understand their responsibilities regarding this crucial tax form. Whether you’re a seasoned business owner or new to the world of employment taxes, we’re here…

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Payroll Updates: Changes to Tax Codes

Have you checked your tax code? Prior to the tax year starting each 6th April, HM Revenue and Customs (HMRC), will issue new tax codes to employees, usually where there is a change of tax code. These tax codes, a series of letter and numbers, allow employers to deduct the…

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Payroll Updates: Changes to National Insurance

In the Spring Budget on 6th March, one of the headline announcements by Chancellor Jeremy Hunt was a the further reduction to National Insurance. In this ‘Insight’ we take a look at what this means for Employees, Employers and the Self-Employed, with a look at the new National Living Wage…

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Payroll Updates

In this ‘Insight’ we take a look at changes to the National Living Wage and National Insurance that come into effect in 2024. Are you getting National Living Wage payments right? Recently, the Government named and shamed 524 businesses for failing to pay the minimum wage to their staff. These…

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Changes to the Construction Industry Scheme

Finance Bill 2023-24, which is currently making its way through Parliament, includes a clause that will change the Construction Industry Scheme (CIS) Gross Payment Status Tests from 6th April 2024. Having Gross Payment Status means that a subcontractor can receive gross payments from contractors, as opposed to payments that have…

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Autumn Statement Summary

On 22nd November 2023, Chancellor Jeremy Hunt presented his Autumn Statement to Parliament. Headlines included generous National Insurance Contribution (NIC) cuts for workers and the self-employed and the ‘biggest permanent tax cut in modern British history for businesses’. Below, we summarise the Autumn Statement headlines and other measures announced. Please…

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