Latest News

21st July 2022 Construction apps for cloud software

If you run a construction company and would like some more feedback on:   How your company is doing? Which jobs are most profitable? Keeping track of your staffs location and working hours?   Then there are plenty of apps that can integrate with your accountancy package like Xero, Sage and QuickBooks which will make…

21st July 2022 Holiday pay: The Supreme Court Decides

Yesterday the Supreme Court rejected Harpur Trust’s appeal with regards to the calculation of holiday pay.   In 2013 Brazel was a part-time music teacher who worked varying hours throughout the year. Her employer was Harpur Trust. When taking her holiday, Harpur Trust calculated her holiday pay based on 12.07% of hours worked. Brazel disagreed…

21st July 2022 Employment Allowance (E/A): Hand in hand with Auto Enrolment

In 2014 HMRC set up the Employment allowance which was a way of giving back to employers who took on more staff, the way the allowance works is that your employers national insurance liabilities are reduced by the allowance up to £2,000 or by the tax year end which ever was reached first.   Since…

18th July 2022 The Apprentice Levy

  Introduced in 2017 as a form of taxation designed to help companies offer more in the way of apprentice opportunities. Any company offering approved apprenticeships can tap into the funds raised from a levy exacted against employers with a payroll bill in excess of £3m per annum (£250,000 per month).   However, what a…

14th July 2022 Self assessment tax: Pay by 31-Jul

  The deadlines for paying your second payment on account is for 31 July.   Pay your tax bill You can make weekly or monthly payments towards your bill, if you prefer. Pay your Self Assessment tax bill: Pay weekly or monthly – GOV.UK (www.gov.uk)   You can get help if you cannot pay your tax bill…

13th July 2022 Trucks Cartel Claim Given Green Light

  The Competition Appeal Tribunal delivered a landmark judgement 8th June 2022 allowing the Road Haulage Association (RHA) to proceed with its collective claim on behalf of hauliers seeking damages from some of the world’s largest truck manufacturers over their alleged involvement in a price-fixing cartel operating between 1997 and 2011. Over 18,000 operators have…

11th July 2022 Paper banknotes: Spend them before it’s too late

  After 30 September 2022, £20 and £50 paper banknotes will no longer be legal tender meaning most businesses and shops will no longer accept them.   It has been just over one year since the newly issued polymer £50 note featuring Alan Turing were bought into circulation. The new polymer notes are more secure…

8th July 2022 Sustainable Farming Incentive Goes Live

  As of Thursday last week the Sustainable Farming Incentive (SFI) went live for applications.   With the continuing decline of the Basic Payment Scheme (BPS), DEFRA is hoping that the SFI will be popular among farmers and landowners, predicting that about 70% will put land into the scheme.   As the name suggests, the…

7th July 2022 Check your Umbrella company is deducting tax correctly

In a recent tribunal case it was held that an umbrella company, Exchequer Solutions Ltd, had incorrectly treated travel and subsistence payment as non-taxable. The umbrella company was acting as the employer for agency contractors working on temporary contract assignments. Exchequer treated the expenses as tax free on the basis that the assignments lasted less…

5th July 2022 Timeline for Tax Changes

There are a few important dates coming over the next couple of years affecting individual taxpayers, who will be seeing changes to the tax they pay, and how they are required to send returns to HMRC.   6 July 2022 – Increase in National Insurance thresholds The income threshold at which employees and the self-employed…