Transferrable MCA: Gift your partner £220. The Government has in place a scheme (Transferable Married Couples Allowance) whereby certain couples can make an online claim to transfer unused tax allowance of up to £1,100 (10% of the annual Personal Allowance). This enables your husband, wife or civil partner to potentially pay up to £220 less…
National Minimum Wage: Increases from 1-Oct-16. The Low Pay Commission today welcomed the Government’s acceptance of its recommendations for the rates of the minimum wage affecting workers under 25 and apprentices, to apply from 1 October 2016 – including: its first recommendation for the effective new minimum wage for 21-24 year olds, where the Government agreed…
Taxation of Termination Payments: ‘All change’ HMRC has, for a while now, been trying to find a way around allowing the £30,000 tax free termination payment to employees. This may, in part, be from the knowledge that there have been occasions where some employers have excluded the inclusion of ‘payments in lieu of notice’ (PILON)…
Shared Parental Leave: Could you qualify? Shared parental leave was introduced to give working parents more choice and flexibility in how they care for their children during the first year after their birth or adoption. The new regime means to create a framework that better supports modern working families. Parents can share the 52 weeks’ leave…
Auto-Enrolment: Are you prepared? Auto-enrolment is looming for many small employer’s now, with the next staging date of 1 October 2016 fast approaching. Are you prepared for the complexities that come with Auto-enrolment? Although many software providers cater for this now, often understanding the legislative details can be a minefield. Through our Ely Payroll department…
Builders: Problems obtaining CIS refunds from HMRC ? Over recent years many limited company subcontractors working in the construction industry have experienced problems and delays in obtaining their CIS refunds from HMRC, due records not matching, i.e. the contractor who made the deduction has not correctly reported this on their monthly CIS returns. Subcontractors who…
CIS: Big administration changes. With effect from 6 April 2016, a lot has changed within the CIS processing sector: The abolishment of the paper return, Amendment to the nil return obligation, Changes to the Compliance and Turnover tests when applying for Gross status. Paper seems to be a thing of the past and so HMRC…
Self-Employed Lorry Drivers: Beware HMRC crackdown. HMRC have written to the RHA about the tax status of lorry drivers. The letter outlines the key points of HMRC rules in this area and suggests that a lorry driver is unlikely to be self-employed unless he is an owner driver. HMRC is particularly concerned about some ‘avoidance…