From April 2026, the government will mandate the reporting and paying of Income Tax and Class 1A National Insurance Contributions on benefits in kind via payroll software. This represents a
Taxable employment benefits from April 2026
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Payrolling employee expenses and benefits
Employers can register on a voluntary basis (before the start of the tax year) to report and account for tax on certain benefits and expenses via the RTI system. This is known as payrolling and
Class 4 NICs who is liable?
Most self-employed people are required to pay Class 4 National Insurance contributions (NICs) if their profits are £12,570 or more a year.
Class 4 NIC rates for the tax year 2024-25 are 6% (2023-24:
View and prove your immigration status
A UK Visas and Immigration (UKVI) account can be used by eligible users to view and prove their immigration status online. This may be required to provide proof of your status to employers or higher
COVID Bounce Back abuse
The Insolvency Service has recently published information confirming that a total of 831 company directors were banned in 2023-24 for Covid support scheme abuse, up more than 80% on the previous year,
Settling energy disputes
Business owners that are in dispute with their energy suppliers will be interested in the free support on offer from the Energy Ombudsman.
In a recent press release the Department for Energy Security
VAT retail schemes
VAT retail schemes are a special set of schemes used by retail businesses to account for VAT. The schemes are used by businesses that sell a significant amount of low value and/or small quantity items
Termination payment clearance process
The tax treatment of termination payments has changed significantly over recent years. The changes have aligned the rules for tax and secondary National Insurance contributions (employer (NICs)) by
HMRC continues to target till fraud
HMRC has, for many years, looked to target businesses that deliberately undertake electronic sales suppression (ESS). ESS happens where a business deliberately manipulates its electronic sales records
Accessing the HMRC mobile APP
HMRC’s free tax app is available to download from the App Store for iOS and from the Google Play Store for Android. The latest version of the app includes updated functionality.
The app can be used
Using the starter PAYE checklist
Employers that take on a new employee need to work out which tax code and starter declaration to use in their payroll software. Incorrect tax codes can lead to a new employee paying more tax than is
Paying VAT on goods from EU to Northern Ireland
There are special procedures for moving goods in and out of Northern Ireland. Under the Northern Ireland Protocol, all Northern Ireland businesses continue to have access to the whole UK market.
New employment protections
New legislation, including three Government backed cross party Acts, came into force from 6 April 2024.
Pregnant women and new parents will now receive special treatment in a redundancy situation, as
What do we mean by profit?
When most business owners refer to business profits, they are likely to mean the difference between sales and costs, and more concisely, that sales exceed costs.
However, the word
Measures to support household budgets from 1 April
In a recent press release the government confirmed the following policies to support household incomes from 1 April 2024.
The National Living Wage has officially risen from £10.42 an hour to
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