Government support and guidance is continually being adjusted to reflect the seriousness of the health and economic impact. We will digest this information, cut through the noise and summarise the information for the self-employed and business owners.
Excellent for employees and not an April fools joke for employers. From today the 1 April 2019 the National Living Wage and the National Minimum Wage increase. The new hourly rates are as follows: Employees aged 25 and over will increase from £7.83 to £8.21 Employees aged between 21-24 will increase from £7.38 to £7.70 …
Our December Newsletter includes information about the upcoming temporary rise in Annual Investment Allowance, a reduction in Business Rates for small retail businesses, the IR35 reforms set to cost contractors more in tax and the national insurance rise for higher rate earners.
Following the chancellor’s Spring Budget announcements yesterday we have included a summary of the key changes which may affect you on pages 3-4 of our Spring Newsletter. You can download a digital copy of the Spring Newsletter here. The newsletter also includes articles on topical tax changes including: Making Tax Digital National Minimum wage increases …
The National Minimum Wage will increase from 1 October 2016. The increase is following the Government’s decision to accept recommendations from the Low Pay Commission (LPC) earlier in the year.
The national minimum wage increases from 1 October 2015. This is great news for employees however substantially increased costs for employers! The national minimum wage amounts that employers must pay their staff have increased substantially. The Government has increased the Minimum Wage by 20p – from £6.50 to £6.70. The increase for Apprentices has also …
Form P11Ds for 2014/15 should be submitted to HM Revenue & Customs (HMRC) on or before 6 July and any liability to class 1A National Insurance should be paid by 19 July, or 22 July if payment is made electronically.
Xero is set to enhance its online accounting software package by adding the ability to also manage your business payroll from 4 March 2015. Integrating your business payroll with your accounting software is simply a great idea! Integration makes things easier and more efficient.
HM Revenue & Customs (HMRC) is to re-introduce PAYE penalties for late submissions of monthly payroll information from 6 October 2014.
The penalties will apply where a Full Payment Submissions (FPS) has not been filed on or before the date a business pays its employees.
The Chartered Institute of Taxation
The Association of Taxation Technicians
