What does the reversal of the National Insurance increase mean for your business? It was announced last month, that the 1.25 percentage point rise in National Insurance which has been in place since April 2022, will be reversed from 6 November. Following the increase...
What is the Construction Industry Scheme (CIS) and how does it operate? In the following guide, we will explore how the HMRC scheme works for freelance subcontractors in the UK construction industry. The scheme was set up by HMRC to collect income tax from those...
The P11D deadline is just a couple of months away, which means all employers that need to complete one should be making the necessary preparations now. If this is the first time you have been required to report employees benefits or non-exempt expenses, you may be...
SEPT 2022 UPDATE: The SSPRS closed for coronavirus related absences after 17 March 2022. Employers had up to 24 March 2022 to submit any final claims. In response to the Omicron COVID-19 variant and the difficulties faced by businesses as a result of increased...
OCT 2022 UPDATE: Please note that in October, the Government subsequently announced that the NIC increases outlined below would be reversed from 6 November 2022 and the associated Health and Social Care Levy, due to be introduced in 2023 will be scrapped. Dividend...
In the UK, employers are legally bound to deduct income tax from their employees in advance of wage and salary payments through PAYE (pay as you earn). Self-employed workers are subject to the same system, but instead must calculate and pay their own tax directly to...
