The end of the 2025/26 tax year will soon be here, which means a few additional tasks to carry out on your payroll, if you run one. If you run a payroll, you will need to report information on the tax year that is ending to HM Revenue and Customs…
Happy New Year and welcome to the January 2026 Tax Update. In this issue we take a look at upcoming changes to Making Tax Digital for Income Tax, working from home expenses, benefits in kind, e-invoicing, advisory fuel rates and dates on the Accounting Horizon. MAKING TAX DIGITAL FOR INCOME…
Why getting minimum wage calculations right matters more than ever Matthew Taylor CBE, author of the influential Taylor Review of Modern Working Practices, has been appointed as the first Chair of the new Fair Work Agency – a body that’s set to change how the UK enforces employment rights. The…
On 21 July 2025, HM Revenue & Customs (HMRC) announced its Transformation Roadmap – a plan to modernise the UK’s tax and customs systems by 2030. HMRC have said that the aim of the Transformation Roadmap is to make the tax administration system more automated, more focused on self-service and…
‘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,…
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…
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…
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…
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…
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…