Author: Steven Brown

Is it a fix? HMRC’s updated employment status tool

Is it a fix? HMRC’s updated employment status tool HMRC has revamped its “check employment status for tax” tool (CEST) and amended its guidance. What’s new and is it any better than the previous version at deciding on a worker’s employment status? Why is status important? For many years HMRC has targeted workers who provide ... Read More

New PAYE procedure being overlooked

New PAYE procedure being overlooked If you pay foreign employees or those who work abroad, you might need to take steps immediately because of new tax rules. What’s the full story? Accountancy and tax organisations are warning employers that they are at risk of falling foul of HMRC if they don’t follow the new tax ... Read More

What’s a trivial benefit worth to employers?

What’s a trivial benefit worth to employers? The tax and NI exemption for trivial benefits is much misunderstood, but nonetheless very useful to employers. When can you use it, what are its advantages and are there any pitfalls to watch out for? What’s a trivial benefit? As the name implies, a trivial benefit in kind ... Read More

MONTHLY FOCUS: CGT RELIEF FOR SHARE DISPOSALS

MONTHLY FOCUS: CGT RELIEF FOR SHARE DISPOSALS Business asset disposal relief is available where businesses are sold, but can also apply to the disposal of company shares and, in some circumstances, assets used by the company. What are the rules? Page Content:- Shareholders Assets used by companies Shareholders How does BADR apply to shareholders? There ... Read More

Further relaxation of self-assessment thresholds announced

Further relaxation of self-assessment thresholds announced The government has announced changes to the threshold at which some taxpayers need to complete a tax return. What’s the full story? Self-assessment The criteria for the requirement for self-assessment varies between different types of taxpayer. Previously, self-employed traders have enjoyed a turnover threshold of £1,000 with no requirement ... Read More

One-person companies and the employment allowance

One-person companies and the employment allowance The NI employment allowance has increased from £5,000 to £10,500. The bad news is that companies with only one person who’s also a director on their payroll aren’t entitled to it. How can they qualify with just one simple low-cost step? What’s the employment allowance? The employment allowance (EA) ... Read More

Permanent increase to penalty interest rates

Permanent increase to penalty interest rates The new tax year saw a change to the way interest on late paid taxes is calculated. What’s changed and what are the new charges? for more help with your Business see our Services Page Prior to 2025/26, interest was charged at the Bank of England base rate plus ... Read More

Do hybrid workers take fewer sick days?

Do hybrid workers take fewer sick days A survey of 2,000 hybrid workers by International Workplace Group has revealed that more than a third are taking fewer sick days than they did when they were working full time in the office. What are the potential reasons for this? for more help with your Business, see ... Read More