Pensions and Payroll
IR35 And Your Limited Company
As you are no doubt aware, IR35 is coming in from April this year and in order to help everyone understand how this will impact them we have put together the following points for clarification.
Retiring Clinicians Payments
The Secretary of State has confirmed that the commitments being entered into, to make payments to clinicians affected by annual allowance pension tax, will be honoured when clinicians retire.
Pension Tax Windfall for Top Earners
The Treasury is preparing to give tax relief worth hundreds of millions of pounds to those earning more than £110,000. The measure will stop doctors being hit with huge bills, which are causing them to turn down extra work and harming patient care.
Minimum Wage Rates Announced
The government has announced a 6.2% increase in the National Living Wage (NLW), which applies to workers aged 25 and over.
Temporary Pensions Tax Arrangement For NHS Staff
In a letter in November 2019, the Secretary of State for Health and Social Care, Matt Hancock, has agreed to a temporary commitment to make payments to certain clinical staff outside of the NHS pension schemes to restore the value of their pension benefits package.
NHS England Confirms Emergency Action on Pension Tax
NHS England has confirmed it will take urgent action on to ensure NHS workers who exceed their annual allowance during this financial year will be able to take on additional work without being left out of pocket. Last week, it
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Guidance For Employers
HMRC has published the October 2019 issue of the Employer Bulletin which contains guidance on a number of issues relevant for employers. Topics in this edition include: Changes for UK employers sending workers to the EU, the EEA or Switzerland
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HMRC Countdown: File Your Tax Return
With less than 100 days until the self assessment tax return deadline of 31 January 2020, HMRC is urging taxpayers to complete their tax returns early, in order to avoid the last minute rush. HMRC report that last year more
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Senior Clinicians’ Pensions Consultation
The government has launched a consultation on proposals to give senior NHS doctors and nurses access to more flexible pensions. The proposals aim to offer senior clinicians more control over their pensions growth. The consultation follows reports that senior NHS
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HMRC Latest Guidance For Employers
HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on: Class 1A liabilities payable on Termination Awards and Sporting Testimonial Payments Off-payroll working rules from April 2020 Disguised Remuneration Seasonal
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PAYE Late Filing And Late Payment Penalties
HMRC has confirmed that it will continue its risk-based approach to payroll Real Time Information (RTI) late filing and late payment penalties this tax year. Rather than late filing and late payment penalties being issued automatically, HMRC will continue to
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Off-Payroll Rules For The Private Sector
The government has published the draft legislation for the next Finance Bill including the rules for off-payroll working in the private sector. The legislation is open for consultation until 5 September 2019. The new rules will apply from April 2020
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