Content reference – Croner Taxwise The National Minimum Wage (#NMW) and National Living Wage (#NLW) rates increased with effect from 1st April 2019 to: NLW (workers aged 25+) — from £7.83 to £8.21 per hour. NMW rates: workers aged 21–24 — from £7.38 to £7.70 per hour workers aged 18–20 — from £5.90 to £6.15
Happy Tax New Year It’s that time of year again, and I trust this email finds you well. Just a reminder you are now able to file your 2018-19 Self-Assessment Tax Return. Although you have until 31st Jan 2020 to file online, there are some advantages of filing early: If you file your return early you have the advantage
HMRC has issued an EU Exit edition of the Employer Bulletin has important information on a range of issues that you need to be aware of should the UK leave the EU without a deal. If you have employees that work in the EU, the European Economic Area or Switzerland, there are actions you need to take
Leaving the EU with a deal remains the government’s top priority. In the event the UK leaves the EU without a deal, UK businesses, importing or exporting goods with the EU, will need to take key steps to continue trading with EU businesses. If you were unable to register for previous webinars, we now have
Keeping accurate records and understanding how capital allowances work will help you complete your Self Assessment, so whether you are new to self-employment, or have been running a business for a while, use our online support to stay up to date. You’ll be able to ask questions during our live webinars using the on-screen text
Making Tax Digital (MTD) requires VAT registered businesses with a turnover of £85,000 to file their VAT returns digitally through an approved accounting . The £85,000 refers to your sales income and not your profit so this is the first thing to be aware of. Businesses that also fall into this bracket also have to record and
Source – Croner TaxWise 28 March 2019 From 1st April 2019, the national living wage (NLW) for those aged 25 years and over will increase to £8.21 per hour. Minimum wage rates will also increase across the various age categories, rising to £7.70 per hour for 21-24 year olds, £6.15 per hour for 18-20 year olds
Leaving the EU with a deal remains the government’s top priority. However, the government is continuing to prepare the country for every eventuality and is advising businesses to continue their preparations for the UK leaving the EU without a deal. We are providing tax agents with the latest details of the guidance and support available
HMRC is offering a range of support ahead of the changes due from April 2019 affecting VAT-registered businesses with a taxable turnover above £85,000. Here’s a selection for you. You can start with this short video to help you with ‘Digital record keeping for VAT’ on HMRC’s YouTube channel. Join us for the following live webinar, where
Find out about expenses and benefits provided to employees, with help from HMRC. You can book a place on our live webinars and ask questions using the on-screen text box. Expenses and benefits – trivial benefits: This webinar explains trivial benefits, whether they need to be reported and what your responsibilities are. Choose a date and
My client is a long-term resident of the UK for tax purposes. However, she is non-domiciled and has been using the remittance basis for her foreign income as it is below £2,000. As she will now have been here for 15 of the previous 20 tax years, will she be caught by the Deemed Domicile
There’s always guidance on expenses available from HMRC – whether you’re newly self-employed or you’ve been in business for a while. The following webinars are live and interactive. Use the on-screen text box to ask your questions. Business expenses for the self-employed: We’ll explain what business expenses are, what is and isn’t allowable and how using
Your duties By law, the total minimum contributions your clients must pay into their staff’s workplace pension schemes increase on 6 April 2019. Your clients need to be ready for this increase, to make sure they’re paying the correct amounts into their staff’s schemes. Are your clients ready? From 6 April, the total minimum contribution
Key Dates Free webinar – 18 March 2019 If you haven’t registered yet, you can sign up now to join us for a live webinar from 2.30-3.30pm on 18 March, where our pensions experts will be talking about the upcoming contribution increases that your clients need to prepare for. Regular contribution increases for workplace pensions
We are continuing to support UK businesses to help them prepare for the changes that will occur if the UK leaves the EU without a deal on 29 March. This week we published a letter to 135,000 UK businesses that currently trade goods with non-EU countries. The letter outlines important changes to customs procedures and VAT
Get ready for the new tax year with an overview of the key changes affecting payroll for the 2019-20. Employers – what’s new for 2019-20? Find out ‘what’s new’ – including the new rates for National Insurance, National Living Wage/National Minimum Wage and statutory payments, changes to expenses and benefits and Student Loan deductions. Plus, information on
The National Living Wage, which is the statutory minimum for workers aged 25 and over, will increase by 4.9% to £8.21 per hour on 1 April 2019. National Minimum Wage rates for younger workers will also increase above inflation. As the minimum wage increases more employers than ever will be directly affected, including some of
Scottish Income Tax The Scotland Act 2016 gave the Scottish Government the power to set Income Tax rates and thresholds for Scottish taxpayers for 2017-18 onwards. The draft Scottish Budget, published on 12 December 2018, confirmed that the 5 band structure and tax rates (19%, 20%, 21%, 41% and 46%) will remain the same for
Workplace Pensions – Contribution Increase This April will see the start of increased pension contributions for employers and their staff. The total minimum contribution will rise from 5% total to 8%. Increasing minimum contributions should be a straightforward task for employers but there are checks they will need to make with their pension and payroll
Preparing businesses for EU Exit We have published our latest letter to UK businesses that trade only with the EU with details of important actions they need to take and changes to be aware of in the event of the UK leaving the EU without a deal. It is our third letter to businesses on
GOV.UK – The best place for businesses to find information about the UK leaving the EU HMRC has produced a range of communications resources to help businesses prepare for the possibility of leaving the EU without a deal. This includes: Step-by-step guides to importing and exporting Guidance for businesses that trade with the EU Letters to support
We know that some employers find it hard to know how to treat sleep-in shifts for workers who receive the National Minimum Wage, or who are close to the threshold. HMRC’s new presentation explains all you need to know. The presentation outlines different scenarios to help determine if the minimum wage is applicable to some or all
From April 2019, the amount people pay into workplace pensions will rise as a minimum contribution from Employees are increased from 3% to 5% under auto-enrolment rules. Employers will also see their contributions go up from 2% to 3%.
Whether you’re newly self-employed or you’ve been in business for a while, there’s always guidance on expenses available from HMRC. Our short recorded webinars are a quick and easy place to start: Part 1: What are allowable business expenses? Part 2: Common business expenses Part 3: Simplified expenses. If you’d like a more interactive experience,
If you’re an employer providing expenses and benefits to employees, including directors, we have a range of live webinars to help you get your tax obligations right. You can ask questions during the webinars using the on-screen text box. Company directors – payroll and you: Find out about your payroll responsibilities to HMRC for directors and