21-Oct-2024
Make sure you claim your child benefit
HM Revenue and Customs (HMRC) is reminding parents to claim their Child Benefit. A claim can be made online and the first payment could be made within a week of claiming. Why claim child benefit? Child Benefit is a helpful financial support for families, offering up to £1,331 per year for the first child, and […]
14-Oct-2024
New tipping laws: What employers and employees need to know
As of 1st October, new laws are in place to ensure that workers keep 100% of the tips, gratuities, and service charges they earn. This is a major development for employees in sectors such as hospitality, where tipping plays a significant role in take-home pay, and for employers, who will need to ensure they comply […]
07-Oct-2024
Check your National Insurance record: Are you missing out on your full state pension?
HM Revenue and Customs (HMRC) has recently reminded people to check and make sure they are not missing out on valuable State Pension entitlements due to gaps in their National Insurance (NI) record. The issue mainly affects parents, particularly women, who claimed Child Benefit before 2000. During that time, Home Responsibilities Protection (HRP) was designed […]
03-Oct-2024
Is your business National Minimum Wage compliant?
As HMRC intensifies its crackdown on National Minimum Wage (NMW) noncompliance, it’s vital to make sure you don’t fall foul of NMW laws. Compliance can have more complexities to it than many assume, and the risks of getting it wrong are significant. HMRC is focusing on SMEs It seems that HMRC are targeting SMEs. For […]
30-Sep-2024
Companies House online services to move to GOV.UK One Login
Companies House has confirmed that its online services will move to the GOV.UK One Login beginning this Autumn. The GOV.UK One Login is becoming an increasingly important way of accessing government digital services. It means that you only need one account, one username, and one password to access a range of government services. The Login […]
26-Sep-2024
Plan 1 student loan interest rate to change to 6%
The Plan 1 student loan interest rate reduced to 6% (from 6.25%) from 30 August. This rate change applie across the UK with the Department for Education (DfE), the Welsh Government and the Department for the Economy in Northern Ireland (DfE NI) all confirming the change. The reduction follows the Bank of England Base Rate […]
20-Sep-2024
HMRC checking on workplace nurseries
With the ever-increasing costs of childcare, a very attractive benefit provided by more and more employers is a creche or nursery for employees’ children. If correctly structured, this is a tax-free benefit and will help employers attract and retain staff. Larger employers may provide an on-site nursery but for smaller employers it is more common […]
16-Sep-2024
Advisory fuel rate for company cars
ADVISORY FUEL RATE FOR COMPANY CARS The table below sets out the HMRC advisory fuel rates from 1 September 2024. These are the suggested reimbursement rates for employees’ private mileage using their company car. Where there has been a change the previous rate is shown in brackets. You can also continue to use the previous […]
13-Sep-2024
SHOULD YOU PASS ON WEALTH NOW TO AVOID INHERITANCE TAX?
Many wealthy individuals are apparently passing on substantial amounts of their wealth in anticipation of possible changes to inheritance tax (IHT) in Labour’s first Budget on 30 October. This allegedly includes a number of high-profile individuals such as TV presenter Anne Robinson who confirmed that she had passed on £50 million to her children and […]
06-Sep-2024
September and October Tax Deadlines
Date What’s Due 1 September Corporation tax for year to 30/11/23 unless pay by quarterly instalments 19 September PAYE & NIC deductions, and CIS return and tax, for month to 5/9/24 (due 22 September if you pay electronically) 1 October Corporation tax for year to 31/12/23 unless pay by quarterly instalments 5 October Deadline for […]
