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What payroll tax changes do you need to be aware of?

09/05/2023

Keeping up to date with tax changes is crucial to ensure compliance and avoid potential penalties.

P11D – Are you ready to report and pay tax on Benefits in Kind?

05/05/2023

Benefits in Kind (BIK) cover a number of different perks or additional payments made by employers to their employees. They can include any of the following: Private Healthcare Loans Company cars Loans Gym memberships And…

Changes to the repayment of Student Loans begin in August

05/05/2023

The way in which Student Loans are repaid is changing and employers need to be prepared. Currently, graduates and students who have taken out student loans are required to repay their loan when they earn…

Fiscal drag bites on earners

05/05/2023

Changes to personal tax allowances and higher interest rates have seen a growing number of people being affected by fiscal drag. Fiscal drag is the phenomenon where taxpayers are pushed into higher tax brackets due…

What is the Residence Nil-Band Rate? And why does it matter to you?

05/05/2023

The Residence Nil Band Rate (RNRB) was introduced by the Government in 2017 and benefits families passing on their main property to a direct descendent. Since its introduction, millions of families around the UK have…

Landlords are latest group targeted by HMRC ‘nudge’ letters

05/05/2023

Residential landlords are the latest group to have been targeted in receiving ‘nudge’ letters from HM Revenue & Customs (HMRC). The letters are part of a targeted ‘nudge’ campaign from HMRC to remind landlords of…

683,000 higher rate taxpayers opt out of child benefit as thresholds remain frozen

05/05/2023

The High Income Child Benefit Charge (HICBC) was introduced in 2013 and was set up to charge tax on individuals claiming child benefits who were earning a yearly income in excess of £50,000. The tax…

Striking the perfect balance: Director’s salary and dividends for 2023/24

05/05/2023

As a business owner, determining the ideal salary for company directors can be tricky. Often, most directors will want to balance their salary and dividend payments to be as tax efficient as possible. The 2023/24…

Businesses must get to grips with a Government crackdown on fraud committed by employees

05/05/2023

A new ‘failure to prevent fraud’ offence is being introduced by the Government to encourage businesses to do more to deter offending, which will ultimately protect themselves, consumers, and other businesses. The new legislation, which…

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