Extracting income from a family company with no retained profits

The Covid-19 pandemic has had an adverse effect on millions of family companies, potentially reducing or eliminating profits. Where there is cash in the business that can be withdrawn, possibly…

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Do you know that the furlough scheme has changed? From 1 July, a grant claim can only be made if the employee was previously furloughed for at least three consecutive weeks before 1 March 2020 and 30 June 2020. We explain more in today’s blog.

Flexible furloughing As far as the Coronavirus Job Retention Scheme is concerned, it is all change from 1 July 2020. From that date, employees can be flexibly furloughed allowing furloughed…

Continue Reading Do you know that the furlough scheme has changed? From 1 July, a grant claim can only be made if the employee was previously furloughed for at least three consecutive weeks before 1 March 2020 and 30 June 2020. We explain more in today’s blog.

Small employers can now reclaim statutory sick pay paid to employees who were absent from work due to the Coronavirus. The online claim service went live on 26 May 2020 – our latest blog covers everything you need to know about making a claim.

Reclaim SSP for Covid-19 absences Small employers can now reclaim statutory sick pay (SSP) paid to employees who were absent from work due to the Coronavirus. The online claim service…

Continue Reading Small employers can now reclaim statutory sick pay paid to employees who were absent from work due to the Coronavirus. The online claim service went live on 26 May 2020 – our latest blog covers everything you need to know about making a claim.

Reporting employment income earned abroad on a self assessment tax return

Pro-taxman in Hounslow strongly advises that you initially need to determine your residency status for the tax year in question. This is decided using the ‘Statutory Residence test’. Assuming you…

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“Just because a gift is provided each year, or is provided to all staff members, does not mean that the employee has a contractual entitlement to it.”

Trivial benefit traps – Contractual obligations The trivial benefits exemption allows employers to provide employees with low cost benefits free of tax and National Insurance and any reporting obligations. For…

Continue Reading “Just because a gift is provided each year, or is provided to all staff members, does not mean that the employee has a contractual entitlement to it.”

There are five conditions that need to be met to get the tax benefits of a pool car.

When is a car a pool car? Rather than allocating specific cars to particular employees, some employers find it preferable to operate a carpool and have a number of cars…

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Read our quick guide to payroll for new employees covering tax codes, the new starter checklist and student loans.

Payroll – how to deal with new starters From a payroll perspective, there are various tasks that an employer has to perform when they take on a new starter. For…

Continue Reading Read our quick guide to payroll for new employees covering tax codes, the new starter checklist and student loans.