Let Property Campaign

HMRC is targeting tax evasion by residential landlords. They’ll use information they have about property rental in the UK and abroad and other information they hold on customers to identify people who might not have paid what they owe. The Let Property Campaign gives you an opportunity to bring your tax affairs up to date … Continue reading “Let Property Campaign”

PAYE Quick Tips!

Looking critically at your business practices and processes and then making some appropriate changes can be an effective way of ensuring that you report in real time. Here are some hints and tips which you might find helpful: Ensure your software and business processes are capable of being able to report ‘on or before’ paying … Continue reading “PAYE Quick Tips!”

Reporting your PAYE ‘on or before’ paying your employees: common misunderstandings

Misconception 1 – All employers with nine or fewer employees (micro employers) can always report on a monthly basis. There are two misconceptions here: a) The current relaxation isn’t a permanent ‘easement’ of the PAYE reporting obligations and is due to come to an end on 5 April 2016. b) It is not open to … Continue reading “Reporting your PAYE ‘on or before’ paying your employees: common misunderstandings”

National Minimum Wage – October 2015

National Minimum Wage (NMW) As you may be aware, National Minimum Wage changes in October every year. As released in the annual budget, the National Minimum Wage rates that apply from 1 October 2015 are as follows: 2015 – 2016 rates: adult rate: £6.70 an hour (previously £6.50 per hour) youth rate for those aged … Continue reading “National Minimum Wage – October 2015”

Summer Budget – Key Points…

The Chancellor has presented his Summer Budget to Parliament – here’s a summary of what was announced. 1. Introducing a new National Living Wage of over £9 an hour by 2020 From April 2016, a new National Living Wage of £7.20 an hour for the over 25s will be introduced. This will rise to over … Continue reading “Summer Budget – Key Points…”

RTI Penalties – Do you know what’s coming?

From 6 March 2015, all employers may incur a penalty for each tax month in which one or more real-time PAYE reports for a scheme are late. Although HMRCHMRC do not usually charge a penalty for the first month in each tax year where you make a late report, this doesn’t apply to late reports … Continue reading “RTI Penalties – Do you know what’s coming?”

Christmas gifts to employees

At this time of year it may be traditional to consider providing your employees with a Christmas or seasonal gift. We would like to remind you of your obligations as an employer. If you provide a Christmas present paid in cash, it will always be taxable, the same as other earnings. The same treatment also … Continue reading “Christmas gifts to employees”