HMRC and the Department for Business, Innovation and Skills, supported by the National Hairdressers’ Federation and the Hair and Beauty Industry Authority, will work with hair and beauty businesses to help them understand their pay obligations to their employees. According to HMRC, analysis shows that 42% of businesses in that industry do not pay apprentices […]
From 6 April 2016, the personal savings allowance will take effect. A new 0% rate will apply to £1,000 of savings income received by a basic rate taxpayer, or up to £500 by a higher rate taxpayer. It will not apply to savings income received by 45% additional rate taxpayers.
Compulsory VAT charges to be introduced in England. The government has issued Revenue and Customs Brief 14 outlining the compulsory charge on carrier bags and the associated VAT, corporation tax and income tax implications. It applies to single-use carrier bags provided with goods supplied by companies with more than 250 full-time equivalent employees in England and […]
From 6 April 2016 a new student loan threshold of £21,000 will be introduced and will be known as a Plan 2 loan. If you have employees repaying under the existing threshold, they will be will unaffected by the change and these existing loans will be described as a Plan 1 loan. Current employer guidance […]
An exemption from paying tax and National Insurance on qualifying paid or reimbursed expense payments will be introduced from 6 April 2016. As a result, when an employee is entitled to a fully matching tax deduction the employer will no longer need to apply for a dispensation or report those expenses on form P11D.
Find out if you need to pay Capital Gains Tax as a non-resident selling a UK residential property and how to tell HM Revenue and Customs. If you’re not resident in the UK and sell (or dispose of) a UK residential property you must tell HM Revenue and Customs (HMRC) and you may have […]