HM Revenue & Customs (HMRC) has removed the default surcharge for late payments of VAT and replaced it with what is a new penalty charge. The way interest is charged has also been amended.
The FGG principle – How can it help your business?
In the world of business, there are three things that all business owners desire:
UK Corporation Tax for start-ups: what you need to know
Corporation Tax is a critical element that start-ups need to be aware of when starting their new venture.
P11D – Are you ready to report and pay tax on Benefits in Kind?
Benefits in Kind (BIK) cover a number of different perks or additional payments made by employers to their employees. They can include any of the following: Private Healthcare Loans Company cars Loans Gym memberships And much more. The above are all taxable benefits, and it is an employer’s responsibility to ensure they are noted on […]
Changes to the repayment of Student Loans begin in August
The way in which Student Loans are repaid is changing and employers need to be prepared. Currently, graduates and students who have taken out student loans are required to repay their loan when they earn an annual salary of £27,295 or more, with repayments at a rate of nine per cent on any income earned […]
Fiscal drag bites on earners
Changes to personal tax allowances and higher interest rates have seen a growing number of people being affected by fiscal drag. Fiscal drag is the phenomenon where taxpayers are pushed into higher tax brackets due to wage increases as they keep pace with inflation. With the UK Government freezing most tax bands until 2028, and […]