As an employer, you can pay your employees tax-free mileage payments where they use either their own car or a company car for business journeys.
If you are self-employed, the way in which your profits are taxed is changing. As a result of this, you only have a limited window
If an employer pays less than these rates, the employee can claim tax relief for the unused balance. Where an employer pays less than these
Class 2 NICs are flat-rate contributions payable by the self-employed, currently charged at a rate of £3.45 a week. Non-payment (or credit) could mean entitlement
As far as National Insurance was concerned, the 2022/23 tax year was a tricky one featuring in-year changes to the primary threshold and in-year changes
The Employment Allowance is an allowance that eligible employers can claim to set against their secondary (employer’s) Class 1 National Insurance liability. The employment allowance
If you need to file a self-assessment tax return for 2021/22, you must do this online by 31 January 2023 if you want to avoid
During her leadership campaign, Prime Minister, Liz Truss, promised to reverse the National Insurance increases that took effect from 6 April 2022 pending the increase
To save work, employers can pay employees a mileage allowance if they use their own car for business journeys. The Government have recently cleared up
The Chancellor’s recent mini-Budget and subsequent U – turns threw a number of spanners into the works as far as profit extraction strategies are concerned.
If you operate your business as a personal or family company, you will need to extract some or all of the profits if you wish
Gifting assets during one’s lifetime is never an easy proposition even though by doing so inheritance tax (IHT) may be reduced in the long run.
For many years, working out whether tax savings could be achieved by incorporation was relatively straightforward. Once profits reached a particular level, transferring the trade
Employers must act as a tax collector for HMRC, deducting tax, National Insurance and, if applicable, student loan deductions, from their employees’ pay and pay
Where a business is operated as a family company, it is necessary to extract the profits from the company in order to use them outside
Despite the increase in National Insurance Contributions (NIC) in the April 2022 Spring Statement (the increase being replaced by the Health and Social Care Levy
Although the National Insurance rates and thresholds for 2022/23 had already been set, at the time of the Spring Statement in March 2022, the Chancellor
The Employment Allowance is a National Insurance allowance that eligible employers can claim and set against their secondary Class 1 National Insurance liability. The allowance
To help meet the costs of health and adult social care, a new levy, the Health and Social Care Levy, is introduced from 6 April
As the Coronavirus Job Retention Scheme comes to an end, employers with employees who are still on furlough will need to decide whether they are
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