Introduced in April this year, the new off-payroll working rules may significantly change the economic landscape for contractors, freelancers and sole traders. If you’re concerned about IR35, here’s everything you need to know. What are the new off-payroll working rules? A contractor who works like an employee – but is paid through a limited company […]
Workplace pension re-enrolment – how does it work?
Almost all workers should now be enrolled into a workplace pension under the Automatic Enrolment scheme. But as the employer, your legal duties do not end there.
Stamp Duty Land Tax: HMRC update the rules on mixed commercial and residential properties
As many of those in the property sector will be aware, different rates of Stamp Duty Land Tax (SDLT) apply to the purchase of commercial and residential properties.
What are Freeports and how do they help businesses?
Eight new Freeports will create hubs for trade and help “regenerate” communities across Britain, the Queen’s Speech 2021 has confirmed. But what are Freeports? And how could they help your business? In this blog, we’ve covered everything you need to know about Freeports. What are Freeports? Freeports are trading hubs usually built around shipping ports […]
New advice on EU imports customs declarations
New Government advice will help traders submit customs import declarations for non-controlled goods imported from the EU, it has been announced. The report comes after HM Revenue & Customs (HMRC) wrote to more than 200,000 businesses reminding them of their new tax and customs obligations now that the UK has officially left the EU. According […]
Workers can continue to claim home working tax allowance in the new tax year
One unexpected bonus for staff forced to work from home because of the pandemic has been a £6 per week tax break. People will have seen their household bills naturally go up over the last year, from increased working at home and the Government has recognised this. These working life changes are driven by the […]
Reimbursed expenses – What you need to know
In most cases, expenses an employee incurs at work are paid for by their employer, but some, like travel and accommodation expenses, are reimbursed later by the employer. Since 2016, the system for reimbursed expenses has been simplified, which means that HM Revenue & Customs (HMRC) will usually accept that business expenses that are reimbursed […]
New Debt Respite Scheme launched
A new Debt Respite Scheme, designed to give a debtor with problem debt the right to legal protection from their creditors, is now available. The new scheme consists of two new two types of ‘breathing space’: A standard breathing space – Available to anyone with problem debt, which offers legal protection from creditor action for up […]
New tax surcharges for late payments
In the 2021 Spring Budget, the Government announced a new penalty and interest regime to replace the VAT default surcharge.