Largest increase to the minimum wage announced The government has announced substantial increases to the national living wage (NLW) and national minimum wage (NMW) rates from 1 April 2024, and a key change for workers aged 21 and 22. What are the new rates going to be and what is the key change? If you ... Read More
On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses. In addition, there were significant statements relating to National Insurance changes and also the reform of work-related state benefits. Table of contents To see ... Read More
All Budget dates now confirmed As well as the main Budget, which is next week, the Scottish and Welsh governments have now confirmed when their devolved equivalents will be published. What do you need to know? The UK Autumn Budget takes place on 22 November – next Wednesday. Of course, this makes draft legislation that ... Read More
How much input tax to claim on mileage payments to staff? – Dunhams News Blogs You pay a mileage rate to staff who use their private cars for business trips. How much input tax can you claim on these payments and what records must your employees submit with their expenses claim? Tax-free mileage rates HMRC ... Read More
MONTHLY FOCUS: Simplifying Your VAT Reporting – Dunhams News Blogs Let’s suppose you have just exceeded the VAT registration threshold. You are concerned about the level of complexity VAT accounting seems to involve. Could the Flat Rate Scheme help? Table of Contents. GENERAL PRINCIPLES What is the flat rate scheme? The flat rate scheme simplifies ... Read More
Paper filing date approaching fast The standard filing date for a personal tax return is 31 January. However, if you submit paper returns you need to do it earlier. What is the paper filing date, and how can HMRC’s new videos help if you need to remove yourself from self-assessment? Currently, the self-assessment system is ... Read More
Business Asset Disposal Relief For Unincorporated Business Business asset disposal relief (BADR) doesn’t only apply to shares, it can also apply to the disposal of an unincorporated business, i.e. a sole trade or partnership interest. How is the relief secured in these situations? What is Business Asset Disposal Relief? Business Asset Disposal Relief (BADR) is ... Read More
Workplace pensions for seasonal and temporary staff According to The Pensions Regulator, some employers who take on seasonal or other temporary workers aren’t following the workplace pension rules correctly. If you’re hiring short-term workers what steps should you be taking? Workplace pensions Christmas is still a little way off but if you’re intending to take ... Read More
HMRC corrects guidance on company-owned EV car charging Occasionally, HMRC publishes guidance that is at odds with what the legislation says. A recent example of this is in respect of reimbursement for the costs of charging company-owned electric vehicles. What’s the full story? The tax and NI rules surrounding wholly electric vehicles (EVs) are more ... Read More
Low and tax-free company vans If your company provides a van for use by an employee or director it usually counts as a taxable benefit in kind. However, the rules which determine the tax and NI position are tricky. What do you need to know? Van benefit charge If you drive an employer-provided van which ... Read More
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