Tax relief for employee pension contributions to pensions schemes is given in two different ways: The Net Pay Arrangement This is where contributions are deducted from an employee’s pay and tax relief is given to the employee at source, applied at their marginal rate. Relief at Source Contributions are deducted after tax and NIC and […]
HMRC announced that with effect from the 14th of October 2024, new evidence will be required when individuals claim tax relief on employment related expenses via the P87 form. This form can only be used to claim low level expenses up to £2,500 per year, if expenses exceed this amount, a Self-Assessment claim will need to […]
Read articleAs we are coming closer to the end of the year, just a couple of reporting reminders. RTI and reporting for early payments for Christmas A lot of employers pay their employees earlier than usual in December. This can be for several reasons, such as businesses closing during the festive period and needing to pay […]
Read articleThe government is to boost opportunities for young people through ambitious apprenticeship reforms in England. Under new proposals the Prime Minister announced plans for a new ‘growth and skills levy’ which will replace the existing apprenticeship levy and include new foundation apprenticeships. The new levy will also allow funding for shorter apprenticeships, giving learners and employers greater flexibility over their training […]
Read articlePeople have until 5 April 2025 to maximise their State Pension by making voluntary National Insurance contributions to fill any gaps in their NI record between 6 April 2006 and 5 April 2018. More than 10,000 payments worth £12.5 million have been made through the new digital service to boost people’s State Pension since it […]
Read articleOverall, while major tax rate increases on income and VAT are unlikely, targeted measures focusing on wealth and business taxation are expected to help fill the fiscal gap Student Loans, April 2025 For student loan interest rates in the UK from April 2025, projections suggest they will vary depending on the loan plan. The repayment […]
Read articleThe Chancellor of the Exchequer Rachel Reeves announced her commitment at the Labour party conference in Liverpool on 29 September, to further her pledge to invest monies in ensuring every young person that is not in Education, Employment or Training (NEET) will be offered a guaranteed work placement which is expected to be partially funded […]
Read articleThe Living Wage Foundation (LWF), known for promoting fair wages, has extended its concern to the realm of retirement. As the cost of living rises and more people are struggling to save, ensuring a decent pension for a comfortable retirement becomes increasingly important. There is a growing awareness that many people, especially those on lower […]
Read articleIn a move that has left many UK employers scrambling for alternatives, HM Revenue & Customs (HMRC) has formally withdrawn its National Insurance Number (NINO) Verification Request (NVR) service. Announced quietly in an update to the PAYE55030 guidance on June 27, 2025, the service ceased operations on February 3, 2025, with no clear timeline for […]
Read articleHMRC has published the latest Agent Bulletin for September, information provided are for those that provide services to payroll professionals, either directly running payrolls or providing Bureaux/Accounting services to clients. Included in the bulletin is a reminder that the new Statutory Neonatal Care Pay and leave (SNCP) will come into force in April 2025. This […]
Read articlePhased Returns to Work and Statutory Sick Pay (SSP) in the UK: Arrangements That Don’t Satisfy a Period of Incapacity for Work (PIW) Phased returns to work are a common approach used by employers in the UK to support employees who are recovering from illness or injury. These arrangements allow employees to gradually increase their […]
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