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Changes to the Employment Allowance

Significant changes to Employment Allowance that were first announced by the [former] Chancellor in his 2015 Budget came into effect at the start of the new financial year on 6 April. While the maximum reduction to employers’ Class 1 National…

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Employers must begin preparations for the Good Work Plan

Dubbed the biggest overhaul of employment law in 20 years, the implementation of the new Good Work Plan is now just weeks away. Businesses will be expected to familiarise themselves with the wide-reaching changes and take steps to prepare for…

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Principal private residence relief and lettings relief changes due in April 2020

IR35 regime to launch in April 2020 despite ongoing Treasury review

The Government has confirmed that despite its plans to review the Off-Payroll tax rules, also known as IR35, it will not postpone the April 2020 implementation of the legislation in the private sector. The introduction of IR35 to the sector…

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Changes to Student Loan Repayment thresholds

The Department of Education (DfE) has announced new repayment thresholds for Student Loan Plans 1 and 2, effective for the tax year 2020/21. On 6 April 2020, the Student Loan Plan 1 repayment threshold will rise from £18,935 to £19,390.…

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A quarter of minimum wage workers underpaid

A new study has found that a quarter of people aged 25 and over, who should be receiving the National Living Wage (NLW) are being underpaid by their employer. The research was conducted by the Resolution Foundation think tank and…

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National Living Wage set to increase from April

The Government will introduce increases to the National Living and Minimum Wage from April this year. From this date the National Living Wage (NLW) will rise from £8.21 to £8.72 per hour and will mean that 2.8 million full-time workers…

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SMEs now wait 23 days for late payments new study finds

According to the latest data, UK SMEs now have to wait up to 23 days on average for late payments to be made. MarketFinance, a peer-to-peer invoice finance platform, has analysed late payment data between 2013 and 2019 from 100,205…

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VAT receipts-reach-record-level-of-133-billion

Figures published by HM Revenue & Customs (HMRC) have revealed that VAT revenue in 2018/19 rose by £7 billion from the previous year to reach a record £133 billion. In the ten years since 2008/09, the VAT take has risen…

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New advisory fuel rates

A new set of Advisory Fuel Rates came into effect from the beginning of December 2019, which apply to employees who use a company car. The rates can be used in circumstances where you are reimbursing employees for business travel…

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HMRC launches revamped cest IR35 off-payroll working tool

With less than three months remaining before the IR35 off-payroll working rules begin to apply in the private sector, HM Revenue & Customs (HMRC) has launched a revamped CEST IR35 off-payroll working tool. The rule change means that engagers, rather…

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