We British are a very charitable nation and are always looking at ways to help our local and national charities in a tax efficient way. The most popular option is by way of the Gift Aid scheme. Assuming you have paid enough income or capital gains tax and made a proper Gift Aid donation, then, […]

The complexities surrounding the National Minimum Wage (NMW) regulations for employers can tie you up in knots. The repercussions if the employer gets it wrong can be significant as HMRC look to take action against ‘errant’ employers. This action can result in HMRC: ● Demanding settlement of arrears going back up to 6 years or […]

The deadline has been extended for employees (including directors) to enter into a salary sacrifice arrangement and receive employer supported childcare vouchers. In some circumstances these vouchers will save more tax than if the parent opened a Tax Free Childcare account. The savings differ from family to family depending on the exact circumstances and the […]

May self-employed individuals will have been understandably disappointed with the announcement in the 2017 Autumn Budget of the delay in the abolition of the “stamp” for a year until April 2019. However this is possibly not as negative as you may have first thought. Th Class 2 NIC is currently £2.85 per week rising to […]

Many employees will have heard the term salary sacrifice and this has become increasingly popular over the years with employees sacrificing amounts of salary in exchange for benefits. These benefits typically save the employee tax and class 1 National Insurance on the amount sacrificed and were used for anything for the purchase of laptops and […]

Businesses should check they’re paying their staff at least the National Minimum Wage (NMW) or National Living Wage (NLW). Rates are set to increase on 1 April this year. The current minimum wage rates are: National Living Wage (25 years and over) – £7.20 per hour adult rate of National Minimum Wage (21 to 24-year-olds) […]

The National minimum wage (NMW) rates will increase on 1 October by between 3% and 4.7% for workers under the age of 25 and apprentices. Employers need to make sure the new rates are implemented for all hours worked from that date. Guide to NMW rates: NMW: age/status Current rate New rate from October 2016 […]