NIC advantages of part-time workers
Employers looking to take on new staff may wish to consider employing two or more part-time workers rather than one full-time worker. This can save
Employers looking to take on new staff may wish to consider employing two or more part-time workers rather than one full-time worker. This can save
The High-Income Child Benefit Charge (HICBC) is a tax charge that operates to claw back child benefit where the claimant and/or their partner have adjusted
Rising interest rates mean that individuals may now be paying tax on their savings income which previously they received it tax free. Where this is
The 2024/25 tax year starts on 6 April 2024. Although many of the rates and thresholds are the same as for 2023/24, there are some
As widely predicted, in his 2024 Spring Budget, the Chancellor announced a 2% cut in the main rates of Class 1 and Class 4 NIC.
Business rates, rather than council tax, are payable on non-domestic properties. The rates are worked out by applying the relevant multiplier to the property’s rateable
As announced at the time of the Spring Budget, multiple dwellings relief for stamp duty land tax (SDLT) is to be abolished from 1 June
For capital gains tax purposes, residential property gains have their own, harsher, rules. Not only is taxed charged at a higher rate, but taxpayers also
The current capital gains tax rules do not provide any relief for inflationary gains. This can mean that when an investment property or second home
Rising interest rates have forced many landlords to sell up. When selling an investment property, capital gains tax is payable at the residential rates to
Most private companies start as sole owner-managers; roll on a few years and some will have grown such that family members may also work for
As the cost-of-living crisis continues to bite, the idea of earning tax-free income is appealing. If you have a spare room, you can make this
Whether a claim for the cost of work clothes is tax deductible is covered by the general rule for deduction of any expenses incurred by
Expenses incurred by an employee on behalf of a company can only be reimbursed under the ‘wholly, exclusively and necessarily’ rules for work undertaken ‘in
Tax codes are fundamental to the operation of PAYE. If your tax code is correct, you should pay the right amount of tax on your
It is often said that inheritance tax (IHT) is a voluntary tax, and one that can be avoided if you give away sufficient assets at
Individuals making capital disposals do not pay capital gains tax if their net gains for the tax year (chargeable gains less allowable losses for the
Paying National Insurance contributions allows individuals to earn qualifying years, which in turn provides them with entitlement to the state pension and certain contributory benefits.
Earlier in the year, it was erroneously reported in the press that new tax rules were coming into force which would mean that anyone selling
We are increasingly hearing more and more about artificial intelligence (AI) and how its use can change our way of working both now and in
Recruitment agencies often use umbrella companies to pay temporary workers. HMRC confirms that there is no statutory definition of an umbrella company and currently describes
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