If you are claiming tax credits, HMRC has warned you have until 31 July to renew your claim or risk having your payment stopped. At the same time as renewing, you should also confirm detail such as working hours, childcare costs and pay. For more information, check out the HMRC website here
To see the new tax rates applicable for 2011/12 and 2012/13, just click the PDF file attached
The tax free amount that employers can pay employees for using their home for business without needing to provide HMRC any evidence of actual home costs is going up from 6 April 2012 from £3 to £4 a week. This makes the new annual amount £208 (previously £156). For more information about this, click here We […]
The tax free amount that employers can pay employees for using their home for business without needing to provide HMRC any evidence of actual home costs is going up from 6 April 2012 from £3 to £4 a week. This makes the new annual amount £208 (previously £156). For more information about this, click here We […]
From today, 1 March 2012, it will no longer be as cheap to wind up solvent companies where the net assets total more than £25,000. Up to now, companies could be wound up simply and cheaply and the net assets, whatever the value, could be distributed to the shareholders and be subject to capital gains […]
The statutory redundancy payment increased from 1 February 2012 to £430 a week.For more information, click here.
From 1 April 2012, all VAT-registered businesses must send their VAT returns online and pay their VAT electronically. Currently, only newly-registered businesses, and those with turnovers of more than £100,000, have to file and pay their VAT online. The new rules will cover VAT returns filed for accounting periods beginning on or after 1 April […]
The cost of a staff party or other annual event is normally tax deductible provided the following rules are followed: The event must be open to all employees at a particular location. If you are simply a husband and wife company with no employees, you too can avail of a tax free benefit of nice […]
New rates apply to all journeys on or after 1 December 2011 until further notice (see PDF file attached). These rates apply to company cars where the employer reimburses the employee just for their fuel. For one month from the date of change, employers may use either the previous or new current rates, as they choose. […]
Since 1 October 2011, employers can no longer enforce employees’ retirement at the age of 65. The default retirement age was abolished by the Employment Equality (Age) Regulations which prohibits discrimination in the workplace. If employers still wish to enforce retirement, they will have to provide justification for this, and they will not be able […]
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