Payroll giving award for HMRC

Payments that your employees make through a Payroll Giving Scheme are deducted from their pay before tax is deducted. This means that employees are given tax relief on their donation immediately – and at their highest rate of tax. It's easy to set up a Payroll Giving Scheme for your Read more…

What is a salary sacrifice?

A salary sacrifice is a voluntary reduction in your salary in exchange for tax-free benefits. These benefits can include: • Child care vouchers • Cycle to work schemes • Bus passes for commuters • Canteen tokens • Staff car parking and vouchers The Government have also launched a consultation into the promotion of payroll giving. Read more…

Landfill tax clarification

HMRC have published draft guidance on landfill tax. Materials that can be classified as naturally occurring, and therefore taxable at the lower rate of £2.50, include: “Group 1 of the 2011 Order allows the following waste materials to be lower rated: naturally occurring rock, clay, sand, gravel, sandstone, limestone, crushed Read more…

Do you receive Child Benefit?

Many parents who receive Child Benefit may be blissfully unaware that they are walking into a tax trap. From 7 January 2013 Child Benefit payments are effectively means tested by the tax system. If either parent, or both parents, has income in excess of £50,000, then part or all of Read more…

G20 agree tax crackdown

Although the recent G20 conference in St Petersburg failed to reach a consensus on the best way to deal with the Syria crisis, they did agree on a long term strategy to make it harder to hide money in tax havens. The ultimate goal, to force companies to pay tax Read more…

Tax Diary September/October 2013

 1 September 2013 – Due date for Corporation Tax due for the year ended 30 November 2012.  19 September 2013 – PAYE and NIC deductions due for month ended 5 September 2013. (If you pay your tax electronically the due date is 22 September 2013.)  19 September 2013 – Filing Read more…

Machine Games Duty

 If you intend to make amusement machines available for play, you must register under the Machine Games Duty (MGD) regulations. MGD was introduced for existing operators from 1 February 2013. The published list of person’s who may be affected is anyone who: holds, or is required to hold, a licence Read more…

National Minimum Wage (NMW)

There has been much press commentary recently regarding HMRC’s pursuit of football clubs who stand accused of paying certain “employees” below the NMW. This action is being taken due to complaints HMRC has received from ballboys and club mascots who receive no payment for their time.  All employers are required Read more…

Check HMRCs callers IDs

Readers will be aware that there a multitude of emails circulating on the internet purporting to be from HMRC. In almost all cases these will be some form of scam, attempting to gather personal information from you in exchange for the promise of a tax refund or similar inducement. HMRC Read more…

Minimum wage crack down by HMRC

Businesses should be aware that HMRC polices the National Minimum Wage (NMW) legislation. Not only do they fine employers who breach the regulations, they also enforce the payment of underpaid wages to staff. HMRC have recently released figured confirming that 26,000 workers were paid less than the minimum wage. • 708 Read more…