Payroll Giving offers your employees the choice to donate money to a UK charity without paying tax on it. How does it work? The Payroll Giving scheme, set up by the Government in 1987, enables anyone receiving pay or a pension, subject to PAYE, to donate to charity from their gross pay. The tax relief […]
Chancellor Rishi Sunak has delivered the Autumn Budget 2021. In this summary we provide some details of the tax changes announced that will be of interest to owner-managed businesses, entrepreneurs and private clients. We hope you enjoy reading this and if you would like to discuss anything within your own context further, please do not […]
From April 2022 certain National Insurance Contributions (NICs), paid by both employed and self-employed workers, and dividend tax rates will both rise by 1.25% in an effort to help fund the cost of health and social care. NIC rate changes From 1 April 2022, there will be a temporary 1.25 percentage point increase in class […]
191 employers have been publically named and shamed by the government for not paying the National Minimum Wage (NMW). In the current list of employers published, £2.1m was found to be owed to over 34,000 workers as a result of HMRC investigations, with the breaches taking place between 2011 and 2018. HMRC has confirmed that […]
On 1 August employer contribution doubled to 20% and will remain at this level until the scheme ends on 30 September 2021. Employers must now pay 20% of the wages covered by furlough, up to a maximum of £625 a month. Announced in the 2021 Budget, the furlough scheme was extended to 30 September 2021, […]
HMRC is looking into nearly 13,000 potential cases of abuse of the government’s various Covid support schemes. By the end of March, it has been reported the treasury was investigating 12,828 possibly fraudulent claims on the furlough scheme, Eat Out to Help Out or self-employed support. The data has highlighted that the majority of the […]
The Coronavirus Job Retention Scheme (CJRS), commonly known as furlough, is approaching its final stages. What considerations do businesses need to be aware of? From 1 July 2021 businesses using the scheme will need to begin contributing towards the 80% minimum salary contribution – 10% in July, increasing to 20% in August and September (with […]
The calculations involved in the Coronavirus Job Retention Scheme (CJRS) are already complex. With the incoming tapering of the scheme and uptake of staff holiday, employers face a challenge to avoid unintentional non-compliance. With the total value of the CJRS surpassing £50billion, HMRC are cracking down on erroneous claims. When the CJRS was initially introduced […]
With the consequences of the COVID-19 pandemic still pertinent across so many industries, business owners may find it more valuable than ever to focus on their core business – and look to outsource back-office tasks such as payroll and bookkeeping. So what are some of the advantages to outsourcing? Saves your business money Outsourcing may […]
Chancellor Rishi Sunak has delivered his Budget 2021 against the backdrop of the extraordinary economic challenges resulting from the COVID-19 pandemic. In this Budget 2021 summary we provide some details of the tax changes announced that will be of interest to owner managed businesses, entrepreneurs and private clients. We hope you enjoy reading this and […]
