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Tax Freedom Day – Stop paying the tax man and start paying yourself… What’s it all about? Tax Freedom Day is the day when average Britons stop working for the
The forms P11D, and where appropriate P9D, which report details of expenses and benefits provided to employees and directors for the year ended 5 April 2014, are due for submission
Where private fuel is provided by the employer for a company car then a separate benefit is assessable on the employee. This benefit charge is calculated by applying the same
The Government has approved a rise in the National Minimum Wage rates which will come into effect on 1 October 2014: a 19p (3%) increase in the adult rate (from
Details of the new Tax-Free Childcare scheme which is to be launched in autumn 2015 have been announced. The scheme will be worth a maximum of £2,000 per child per
The Employment Allowance of up to £2,000 is available to most employers from 6 April 2014. Employers can reduce the amount of National Insurance contributions (NICs) they pay for their
Further guidance has been issued on Class 3A National insurance contributions (NIC). In the autumn of 2013 the Government announced plans to introduce a scheme to allow pensioners to top
The Second Incomes Campaign is an opportunity open to individuals in employment who have an additional untaxed source of income. The new facility allows those with untaxed income to get
The Percentage Threshold Scheme (PTS), which allows employers to reclaim Statutory Sick Pay (SSP) in certain circumstances, is abolished from 6 April 2014. Under PTS employers have been able to
Following the Budget announcements regarding pension flexibility HMRC have now issued some guidance for those individuals who may wish to review their pension options. New rules are being introduced to
The new automatic in-year Pay As You Earn (PAYE) penalties for late filing and late payment and in-year interest (charged on tax and National Insurance Contributions (NICs) that are paid
Penalties for late returns are charged on each PAYE scheme registered with HMRC, therefore, if you operate more than one PAYE scheme you need to make sure that amounts due
