News
New Businesses can save up to £50,000 in NICs
Thursday 17th November, 2011
Employer National Insurance Holiday for New Businesses – Save up to £50,000 in NIC! The National Insurance Holiday scheme is for new businesses which start up between 22nd June 2010 and 5th September 2013, who are based in certain regions … Continue reading
National Minimum Wage Increase from 1st October
Tuesday 27th September, 2011
Please be aware that the National Minumum Wage is increasing and from 1st October 2011 will be as follows: The main (adult) rate applies to workers aged 21 and over, and will increase to £6.08 per hour. The NMW development rate … Continue reading
Cycle to Work Scheme – Act before 31.12.11 to maximise tax savings
Thursday 18th August, 2011
Act before 31.12.2011 to maximise tax savings from the Cycle to Work Scheme Under current arrangements, employers who participate in the Cycle to Work Scheme can use the cost of the bicycle and accessories NET of VAT to be deducted … Continue reading
Workplace Pensions – The law is changing
Monday 15th August, 2011
The law on workplace pensions is changing from October 2012, where all employers will have to automatically enrol most of their workers into a pension scheme, and pay a minimum contribution into the employee’s pension. These changes are being phased … Continue reading
P11Ds are due to HMRC by 5th July
Friday 3rd June, 2011
All employers who have provided any benefits or expenses to their employees in the tax year 6th April 2010 to 5th April 2011 must submit P11Ds (Returns of Expenses and Benefits) to HMRC by 5th July 2011. Examples of items … Continue reading
P35 and P14 deadline approaching!
Tuesday 10th May, 2011
The deadline for submission of P35 and P14 returns for the 2010-11 tax year is 19th May 2011, and virtually all returns now have to be filed online. This return has to be made if you have had ANY employees … Continue reading
HMRC Approved Mileage Allowance Payments increased to 45p per mile from 06.04.2011
Tuesday 29th March, 2011
Where employees use their own cars for business mileage they can claim reimbursement from their employers through the approved mileage allowance payments rates (AMAPs) which is not regarded as a taxable benefit. There is currently a higher rate of 40p … Continue reading
Changes to childcare voucher schemes – ACT NOW!
Tuesday 15th March, 2011
From 6th April 2011, there will be a reduction in the tax benefits for higher rate tax payers who join a childcare voucher scheme after this date. Childcare Vouchers are currently tax and NI exempt up to a maximum of … Continue reading
Warning – Beware of scam emails and telephone calls saying they are from HMRC informing tax payers they have refunds outstanding.
Friday 25th February, 2011
Emails The latest emails look very authentic and even have links to the genuine HMRC website and appear to come from genuine @hmrc.gov.uk email addresses. These emails inform the recipients that their tax has been calculated and they are due … Continue reading
Increase in weekly limit for calculating statutory redundancy pay
Tuesday 1st February, 2011
With effect from 1st February 2011 the limit on a weeks pay for the purposes of calculating at Statutory Redundancy payment will increase from £380 to £400. This will affect any employers making Statutory Redundancy payments for redundancies on or … Continue reading
