The oldest surviving manuscript in existence is the Sumerian text from Abu Salabikh from 2600 BCE and if HMRC had its way, they’d want to go back that far to check to see that he paid the correct amount of income tax and National Insurance. We exaggerate ever so slightly but the length of time […]
If you pay your employees through the PAYE (Pay As You Earn) system, you are eligible to participate in the Cycle to Work scheme offered by CycleScheme. CycleScheme offers employers the opportunity to encourage exercise, reduce CO2, and save money on Employers’ National Insurance Contributions. If any of these benefits have piqued your interest, read […]
The last few years have seen the introduction of some profound changes on employment and the idea of what employment should be. There’s unlimited paid holidays and the march of telecommuting, first seen in the 1980s and 1990s, has gathered real pace with mobile communications. Is the next revolution the 4 day working week? Shadow […]
If you own a small business and you want to expand your production capacity but the cost of buying the equipment outright you want would be significant enough to create cash flow issues, asset financing may be the right choice for you. In this article, we explain what asset financing is and how you can […]
Both R&D (Research and Development) Tax Credits and the Patent Box Tax Relief have been around for a while and they were introduced by the British government to encourage greater spending by companies on their research and development and on the origination of IP (intellectual property) and its commercial exploitation. But the question is whether […]
According to new research by Nationwide Building Society, future pensioners are at risk of underestimating the amount they need to save to retire comfortably by more than £68,000. The building society’s survey found that 33 per cent of middle-aged savers, who will soon be approaching retirement, believe that they will be able to live on […]
The latest data suggests that this month’s increase in workplace pension contributions will help most workers to save an additional £100,000 towards their retirement. Minimum contributions for workplace pensions have risen to eight per cent this month, with a minimum contribution of three per cent from employers. The five per cent gap between minimum employer […]
A new survey has found that around six in 10 workers in the UK do not have sufficient savings to cover the cost of a large, unexpected bill. The study of more than 10,000 employees, produced by the Yorkshire Building Society in partnership with Salary Finance, found that 60 per cent of people say they […]
HMRC has won a legal case over a contractor loan scheme endorsed by Hyrax Resourcing Ltd. As a result, HMRC will now be able to collect more than £40 million in unpaid taxes. The scheme in question was a disguised remuneration avoidance scheme, which paid users in loans, rather than salaries, to avoid paying income […]
The new tax year brings changes to income tax bands and allowances. The personal allowance is £11,850 for 2018/19 and increases to £12,500 for 2019/20. There is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000. The reduction is £1 for every £2 of income above £100,000. So for 2018/19 […]
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