In the Spring Statement 2022, the UK Government announced an increase in National Insurance thresholds affecting the 2022 to 2023 tax year. We want to take the opportunity to remind our clients that the threshold changes will take effect from 6th July 2022, meaning employees will pay National Insurance contributions on … Continued
In this month’s ‘Tax Update’ there’s information about Employee Benefits, the Employment Allowance, buying an Electric Car, Salary Sacrifices, Capital Gains Tax and Advisory Fuel Rates for Company Cars. Report Employee Benefits on Form P11D by 6th July P11D forms for reporting expenses and benefits in kind provided to employees … Continued
I hope you are well and that your business is recovering from the effects of the pandemic. It still seems that the have a way to go to bring COVID-19 fully under control and that we may be moving towards more restrictions in the near future.With this in mind, I … Continued
Reports to HMRC of possible furlough fraud have doubled in recent months. The Furlough scheme has protected 11.4 million jobs, costing £57 billion of Chancellor Rishi Sunak’s total bailout plan of £352 billion. Reports of potential fraud on this and other COVID support schemes such as the ‘bounce’ back’ loan … Continued
PLEASE NOTE THAT THIS INFORMATION IS ONLY RELEVANT IF YOU PROCESS A PAYROLL.IF WE PROCESS YOUR PAYROLL, THE BELOW WILL BE TAKEN CARE OF SO THERE IS NOTHING FOR YOU TO DO. As the 2020/21 Tax Year draws to a close, there are important points that need to be taken … Continued
Off-Payroll Working Tax (IR35) will apply to the Private Sector from April 2021. The off-payroll working rules can apply if a worker provides their services through their own limited company or an intermediary, which will usually be the worker’s own personal service company, but could also be a partnership, personal … Continued
With more of us working from home, there’s some good news for employees from HMRC. Tax relief can now be claimed to cover some of the costs of working from home. An employer can pay an employee £312 every tax year (equivalent to £538 gross for a higher rate taxpayer). … Continued
Loans schemes also known as disguised remuneration tax avoidance schemes have been used by some employers and individuals in order to try and avoid paying Income Tax and National Insurance
The new National Minimum Wage (NMW) and National Living Wage (NLW) rates came into effect on 1 April 2019. The NLW first came into effect on 1 April 2016 and is the minimum hourly rate that must be
We would like to remind employers that the deadline for submitting the 2018-19 forms P11D, P11D(b) and P9D is 6 July 2019. P11D forms are used to provide information to HMRC on all Benefits in Kind
