by | 14 Dec, 2023 | National Insurance
A reminder that the main rate of Class 1 Employee National Insurance contributions (NIC) will be reduced from 6 January 2024. This change will see Class 1 NICs reduced by 2% from 12% to 10% in a change set to benefit some 27 million employees. This reduction will only...
by | 14 Dec, 2023 | Employment Law
When a new employee is added to the payroll it is the employer's responsibility to ensure they meet the employee's rights and deduct the correct amount of tax from their salary. HMRC’s guidance lists the following requirements that an employer...
by | 14 Dec, 2023 | Income Tax
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. If you are using this scheme, you should ensure that rents received from lodgers during the current tax year do no exceed £7,500. The tax exemption is...
by | 14 Dec, 2023 | Employee Benefits
There are special rules for the provision of living accommodation for employees. In most cases, employees will pay tax on any living accommodation provided by an employer unless they qualify for an exception. However, where an employee qualifies for an exemption,...
by | 14 Dec, 2023 | Income Tax
If you are having trouble paying your tax on time you may be eligible to receive support from HMRC by applying for an instalment payment plan. An online payment plan for self-assessment tax bills can be used to set up arrangements for paying tax liabilities of up...
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