One area that was not covered in the Budget was salary sacrifice. This remains a viable solution to employers in shaping the remuneration packages for staff in a way that helps to minimise National Insurance costs for the business, and in many cases, reduces the tax and/or National Insurance deductions suffered by employees on their pay and benefits.
The recent budget announcement brought several significant updates to payroll and tax regulations, most notably to Employers’ National Insurance Contributions and the National Minimum Wage – both of which will have a significant impact on employers’ wage bills.
The main headline on employee taxation that was slipped into the official Budget documentation after the Chancellor’s speech, is the announcement that employer-provided Double-Cab Pickup Vehicles (DCPUs) over one tonne will no longer be taxed as company vans from 6 April 2025.
The Government has published proposed new measures in the Employment Rights Bill 2024 with suggested reforms to zero-hours contracts, sick pay, leave entitlements and workers’ rights.
Outsourcing your payroll can bring many benefits to your business. Not only will it free up in-house staff to focus on core business activities and strategic tasks, but it can provide added peace of mind that the process is streamlined and compliant with ever-changing payroll legislation.
Since Labour's rise to power, there's been a whirlwind of press coverage about their proposed changes to employment legislation and the ‘plan to make work pay.’ The Government said it planned to introduced the Employment Rights Bill within the first 100 days of the new parliament and as a small or family-owned business, it's crucial to understand the potential impact of these changes.
HMRC has said it will be writing to thousands of construction businesses to check compliance with the Construction Industry Scheme (CIS). What action should you take if you receive a letter?
Armstrong Watson is is aiming to be recognised as “the best financial advisory firm to deal with, delivering the best client experience in the UK" and has become the first accounting firm to join The Institute of Customer Service
It can be easy to overlook tax opportunities that can save you money, but here are four little-known tax rules/reliefs that you may be able to take advantage of.