If you are an employer, you may be affected by the changes to the National Minimum Wage (NMW). These come into effect from 1 April 2024. The hourly rate for the minimum wage depends upon an employee’s age and whether they’re an apprentice. Current rates These rates are for the National Living Wage (for those …
HM Revenue and Customs (HMRC) have issued the Employers Bulletin for April 2018. This updates employers with information in respect of the new tax year. Please follow this link. Employers Bulletin – Details HM Revenue and Customs (HMRC) publishes the employer bulletin 6 times a year. They give employers and agents the latest information …
With the start of the 2015/16 tax year almost here, there are a couple of changes we wanted to make you aware of. Collection of Tax Debts If your tax return is filed early enough, it is possible to collect any tax debts through your tax code (provided you are subject to PAYE) – known …
There are many reasons why a business may struggle, but one of the biggest is poor cash flow, and perhaps the most painful bills which businesses pay are tax bills. We need to get over the hurdle that tax bills are necessary and not optional. We should also remember that whilst paying other suppliers may …
In April 2012 HM Revenue & Customs (HMRC) started a pilot scheme for PAYE – RTI (Real Time Information). The aim of RTI is to improve the accuracy of PAYE, submitting information electronically to HMRC every time employees are paid, instead of submitting it at the end of the tax year using the P35/P14. P11D’s and …
Whether an individual is an employee or self-employed in a particular situation is a question of fact depending on the terms under which he or she works. When you engage someone to do work for you, you have to decide whether or not to apply the PAYE rules. It is up to you to get …
Being a new employer can be a daunting experience, given the changes in employment law over the last 5 years. The following link (opens PDF document) is a useful guide for new employers produced by ACAS, and covers many of the legal issues you need to consider when taking on employees. We can help with the …
A recent report by Accountancy Age magazine suggested that the Revenue were getting tough on ‘Time to Pay’, the scheme allowing taxpayers to spread their tax bills over a number of months, with the number of arrangements being rejected increasing significantly. This squares with a client’s recent experience. They were asked about their business by …