NATIONAL INSURANCE CONTRIBUTIONS CHANGES EMPLOYEES In addition to income tax, all employees earning more than £12,570 a year pay Class 1 NICs. From 6 January 2024, the main rate of Class 1 NICs will be...
CHARGING ELECTRIC CARS AT HOME HMRC have recently clarified their view of the tax treatment for the reimbursement of electricity costs where employees charge their electric company cars at home. HMRC now accepts that reimbursing part of a...
BACK TO SCHOOL – SET UP A TAX-FREE CHILDCARE ACCOUNT? The Government’s Tax-Free Childcare Accounts provide a 25% subsidy towards the cost of childcare. The account can be used to pay nursery fees, registered childminders,...
PROVIDE ADDITIONAL INFORMATION OF R&D CLAIMS FROM 8 AUGUST 2023 The latest Finance Act includes two changes that will affect all R&D claims: a requirement to provide additional information before an R&D claim is made;...
DEADLINE FOR TOPPING UP NI CONTRIBUTIONS EXTENDED AGAIN TO 5 APRIL 2025 With all of the changes to personal pensions in the Spring Budget, maximising the State Pension entitlement should not be overlooked. The full rate of new State...