Veterans National Insurance Relief for Employers UK businesses hiring former members of the UK armed forces in their first year of civilian employment can save thousands of pounds through Veterans National Insurance relief. Through this scheme, businesses hiring military veterans can save thousands of pounds in employee National Insurance contributions. From 6 April 2022, employers…
HMRC have made changes to Work From Home Allowance tax relief from 6th April 2022. At the start of the COVID-19 pandemic in March 2020, the UK government encouraged the public to work from home where possible. This guidance was followed by some new rules on claiming tax relief, helping to combat the inevitable rise…
Autumn Statement Review 2016 Autumn Statement Review 2016 For Employers The new chancellor has announced the autumn statement review. We look at this from an employers viewpoint. National Living wage A rise in the National Living Wage will come into effect from April 2017. For over 25’s this will increase from £7.20 to £7.50 per…
Employers are you claiming your Employers Allowance? Most employers are entitled to claim Employers allowance worth £3000 this tax year against your business National Insurance, but many are missing out. We have identified refunds worth £16,000 for new clients in April alone when setting up their payroll. Many small employers running their payroll in house appear to be unaware of this significant…
IR35 Test Case HMRC has won its first IR35 test case. The Managed Serviced Company (MSC) rules were introduced from 6 April 2007 to crack down on businesses that ignored the IR35 rules on an industrial scale. Those businesses provided tens of thousands of workers such as cleaners, drivers and security guards, with packaged service companies.…
Employers Allowance For NI We have noticed a number of new clients have not been claiming their Employers Allowance for NI through payroll. We have saved each client up to £4000 each when taking over new payrolls recently and checking if they have enabled the employment allowance claim. This is easily missed, particularly by smaller employers without…
Budget 2016 Budget 2016 at a glance Chancellor George Osborne has delivered his Budget 2016, setting out the government’s latest plans for the nation’s finances. Here are some of the key points: The personal tax allowance will go up to £11,500 from April 2017. The chancellor says this will give 31 million people a tax cut,…
Higher Rate Threshold Frozen in Scotland 2016 The increase to the higher rate threshold announced in the Budget 2016 will not be passed on under proposals by Scotland’s First Minister, Nicola Sturgeon. Instead, the higher rate threshold will be frozen in real terms and increased only in line with CPI inflation in 2017/18 and by no more than…
Payrolling Benefits In Kind Supplementary guidance for payrolling benefits in kind has been published on the Gov.uk website. You can view the new guidance here. Statutory payrolling of benefits in kind (PBIK) comes into effect on 6 April 2016. Those intending to start or continue payrolling benefits and expenses in the 2016-2017 tax year must register with…
Employment Allowance 2016 The Government announced in the Autumn Statement plans to increase the National Insurance contributions (NICs) employment allowance 2016 from £2,000 to £3,000 a year from April. For companies where the director is the sole employee this allowance is now being restricted. From April 2016 sole director companies where the director is the only…
