See this month's most-asked payroll questions from sick pay to benefits in kind and how ASKTPC gives members the same answers instantly.
HMRC today opened its voluntary payrolling of benefits and expenses online service ready for the new tax year. As you are aware HMRC is mandating payrolling benefits from April 2027 for: HMRC has today announced it has reopened it registration service for the non-mandated benefits. Here you will be able to register to voluntarily payroll […]
Changes to the van benefit and car and van fuel benefit charge from 6 April 2019 have been outlined in the 2018 Budget. This measure increases the van benefit charge by the Consumer Price Index and the car and van fuel benefit charges by the Retail Price Index from 6 April 2019. The flat-rate van […]
Read articleChancellor Philip Hammond has fulfilled his party’s manifesto pledge to raise the Personal Allowance to £12,500, a year ahead of schedule. From April 2019 the Personal Allowance will be £12,500 and the higher rate threshold will be set at £50,000. The basic rate limit will be increased to £37,500. Hammond then plans to index both rates in […]
Read articleThe National Living Wage (NLW) will rise to £8.21 from April 2019 an increase of 4.9 per cent, while the government has also accepted the Low Pay Commission’s (LPC’s) above inflation recommendations to increase the National Minimum Wage (NMW). Philip Hammond announced the increases in his 2018 Budget speech, stating: “Delivering higher wages for those […]
Read articleThe Employment Allowance (EA), which entitles employers to up to £3,000 a year off their National Insurance contribution (NICs) bill, is to be restricted to smaller employers. Philip Hammond, Chancellor of the Exchequer, explained in his 2018 Budget speech that the allowance was originally introduced to incentivise business to take on employees. “But at a […]
Read articleOff-payroll working rules are to be extended to contractors working in the private sector, announced the Chancellor of the Exchequer in his 2018 Budget. The rules, which have applied to the public sector since April 2017, shift the responsibility for determining the tax status of off-payroll workers from the individual contractor to the hiring organisation. […]
Read articleEmployers have been reminded that they only have until 5 November to submit their responses to the consultation into the scope of the Welsh rates of Income Tax. The Wales Act 2014 introduces the Welsh rates of Income Tax, which will be implemented in April 2019. This requires technical changes to legislation to ensure the new Welsh […]
Read articleHMRC has outlined the Student Loan thresholds from 6 April 2019. The current thresholds for the tax year 2018/19 are: The Department for Education (DfE) has confirmed that from 6 April 2019 the thresholds will increase to: Student loan deductions will remain the same, at nine per cent for Plan 1 and Plan 2 loans. […]
Read articleA joint regulatory strategy aimed at strengthening the relationship between the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) has been launched to deliver better outcomes for pension savers and those entering retirement. The strategy identifies key issues which contribute to the prospect of people not having adequate income, or the income they expected in retirement. […]
Read articleA pilot for a new online VAT service has been launched, with HMRC inviting more than half a million businesses to try the service ahead of new rules coming into force in April 2019. From 1 April 2019, under Making Tax Digital, around one million businesses registered for VAT with a taxable turnover above £85,000 […]
Read articleHMRC has released the latest edition of its Agent Update. It includes details on:
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.jpg "Two HMRC Payrolling Benefits Updates.")
