Business News

Wales to set devolved income tax rates

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From April 2019, the National Assembly for Wales will be able to vary the rates of income tax payable by Welsh taxpayers. Responsibility for many aspects of income tax will remain with the UK government, and the tax will continue to be collected by HMRC for Welsh taxpayers. The process for setting Welsh rates of […]

Business News

State Aid approval granted for the Enterprise Management Incentive

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It has previously been reported that the Enterprise Management Incentive State Aid approval lapsed on 6 April 2018. On 15 May EU approval was granted however HMRC have not confirmed expressly that this approval will be backdated to 6 April 2018. The Enterprise Management Incentive (EMI) allows selected employees (often key to the employer) to […]

Business News

Universal Credit and self employment

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The government has published a report, Universal Credit: supporting self employment which considers the issues faced by self employed claimants. The report considers the impact of the Monthly Income Floor (MIF) earnings requirement. To be eligible for Universal Credit (UC) claimants must earn the MIF. However, the MIF assumes self employed claimants earn a regular […]

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Off-payroll working in the private sector consultation

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HMRC has launched a consultation on how to tackle non-compliance with the off-payroll working rules in the private sector and are asking for comments on the best way to do this. HMRC estimates only 10% of PSCs that should apply the legislation actually do so, and the the cost of this is projected to increase […]

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200,000 receive back pay as HMRC enforce National Minimum Wage

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BEIS and HMRC are urging underpaid workers to complain about National Minimum Wage (NMW) and National Living Wage (NLW) underpayments. Recent figures show that the number of workers receiving the money they are owed has doubled. During 2017/18, HMRC investigators identified £15.6 million in pay owed to more than a record 200,000 of the UK’s […]

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Tax refund scams warning from HMRC

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HMRC has issued a warning to taxpayers regarding the latest tax refund scams. These scams are targeting individuals via email and SMS messages. HMRC is currently processing genuine tax refunds for the 2017/18 tax year and the fraudsters are sending scam messages which claim that taxpayers are entitled to a rebate. These messages go on […]