Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin. The February issue has information on various topics, including: Please contact us for help with tax matters. Internet link: Employer Bulletin
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Proposed HMRC powers to collect data on hours worked scrapped
The government has stopped controversial plans to collect information about the exact hours worked by every employee in PAYE returns. The data collection on employee hours was meant to start…
Tailored tax reliefs boost alcohol sector
The government has introduced a package of support that it says will help the alcohol sector to grow. From 1 February, draught relief has increased to knock 1p off duty…
11.5 million file self assessment by 31 January deadline
More than 11.5 million taxpayers beat the self assessment deadline to file their tax return for the 2023/24 tax year by 31 January and avoid a £100 late filing penalty,…
Business tax compliance costs £15 billion a year
An increasingly complex tax system is costing UK businesses an estimated £15.4 billion a year in compliance, according to a report from the National Audit Office (NAO). HMRC’s cost of…
£35m gap in NICs plugged to top up state pensions
People plugging gaps in their National Insurance contributions (NICs) have added £35 million to their State Pensions since last April, according to figures from HMRC. More than 37,000 online payments…
Rate cut brings ‘measure of relief’ to business
Businesses will get a ‘measure of relief’ after interest rates were cut by the Bank of England, says the British Chambers of Commerce (BCC). The Bank cut the base rate…
Government consults on mandatory e-invoicing
The government has launched a consultation on plans for the rollout of electronic invoicing (e-invoicing) in the UK. The 12-week consultation is being jointly conducted by HMRC and the Department…
HMRC cuts late and repayment interest rates
HMRC will reduce late payment and repayment interest rates from 25 February following the cut in the base rate. The Bank of England cut the base rate to 4.5% on…
Higher than expected inflation underlines business challenges
The higher-than-expected rise in the rate of inflation underlines the real challenges businesses face, according to the British Chambers of Commerce (BCC). The consumer prices index (CPI) measure of inflation…
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