Redundancy –Taxation of payments
Making any employee redundant is a difficult decision and potentially distressing for all involved. Getting the process wrong could result in one or more employment
Making any employee redundant is a difficult decision and potentially distressing for all involved. Getting the process wrong could result in one or more employment
The Bank of England has warned businesses and households that the cost of borrowing will remain high for at least the next two years and
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
Pre-pandemic, giving discounts to employees was invariably only offered by the larger companies. However, because employee benefit schemes save the employer money, many SMEs are
Many businesses view entertaining clients and customers to be an important part of their marketing budgets, whether as a networking opportunity, a thank you for
The Employment Allowance is an allowance that eligible employers can claim to set against their secondary (employer’s) Class 1 National Insurance liability. The employment allowance
With the cost-of-living crisis upon us more people are considering self-employment as well as employment to bring in extra money. This can lead to overpayments
HMRC can issue a determination when a taxpayer has failed to submit a tax return. The determination is HMRC’s formal calculation of tax that it
HMRC’s basic premise is that where a company pays a personal bill, there will be tax and National Insurance implications unless the expense is work
Despite the increase in National Insurance Contributions (NIC) in the April 2022 Spring Statement (the increase being replaced by the Health and Social Care Levy
For 2022/23 only, the rates of Class 1 (employer and employee) National Insurance contributions are increased by 1.25 percentage points, along with the rates of
The Employment Allowance is a National Insurance allowance that eligible employers can claim and set against their secondary Class 1 National Insurance liability. The allowance
Working from home during the Coronavirus pandemic created a range of tax issues, not least where private bills, such as for internet usage, were paid
As the Coronavirus Job Retention Scheme comes to an end, employers with employees who are still on furlough will need to decide whether they are
Special rules apply to company directors when it comes to calculating their Class 1 National Insurance liabilities. Why the rules Directors, particularly of personal and
HMRC commonly find errors in relation to directors’ loan accounts when making routine reviews of company tax returns. This article looks at the importance of
Copyright © 2023 Pro-Taxman. All rights Reserved.