TAX AVOIDANCE Synopsis: HMRC has launched a new campaign with the aim of providing an opportunity for individuals in employment who have additional untaxed income from other sources to get up to date with their tax affairs in a simple, straightforward way. Date posted: Monday, May 12, 2014 In April, HMRC launched the ‘Second Incomes […]
PENSIONS – AUTOMATIC ENROLMENT/AUTOMATIC ENROLMENT Synopsis: The Pensions Regulator has issued a Section 89 report showing one employer significantly failed in their automatic enrolment responsibilities. Date posted: Monday, April 28, 2014 The Pensions Regulator (TPR) has issued its first automatic enrolment section 89 report which highlights key lessons to help employers avoid noncompliance. The report […]
CHILDREN AND FINANCIAL PLANNING Synopsis: The Institute for Fiscal Studies has been looking at the long term consequences of the £9,000 a year tuition fee. Date posted: Wednesday, April 23, 2014 Shortly before Easter the Institute for Fiscal Studies published a report entitled ‘Payback time? Student debt and loan repayments: what will the 2012 reforms […]
TAX AVOIDANCE Synopsis: Impact of the anti-avoidance provisions to re-categorise income from “disguised employment” as employment income. Affected LLP Members seeking loans to inject sufficient capital to avoid income re-categorisation. Some LLPs reported to be considering incorporation. Date posted: Tuesday, April 22, 2014 The new rules providing for the re-categorisation of the ‘remuneration’ taken by […]
NATIONAL INSURANCE Synopsis: The new employer’s NIC allowance could change employing-the-spouse decisions. Date posted: Friday, April 04, 2014 In our earlier bulletin we mentioned that the new Employment Allowance (EA) did not make any difference to the salary versus dividend debate: the existence of employee NICs saw to that. However, where the EA may be […]
PENSIONS – AUTOMATIC ENROLMENT/AUTOMATIC ENROLMENT Synopsis: TPR publishes update to AE figures. Date posted: Friday, March 14, 2014 More than three million workers have begun now saving into a workplace pension scheme as a result of automatic enrolment, according to figures released today by The Pensions Regulator. The three millionth worker is employed by West […]
PENSIONS ACT 2004 Synopsis: The Pensions Regulator urges medium and small firms to find out when auto enrolment will affect their business. Date posted: Thursday, March 13, 2014 The Pensions Regulator has issued a reminder notice on their website for medium and small employers after their research shows many employers are unprepared for Auto Enrolment. Thousands of […]
BENEFITS IN KIND/TAXABLE BENEFITS Synopsis: The Office of Tax Simplification has published a second review of the tax treatment of employee benefits and expenses. Date posted: Tuesday, February 04, 2014 The Office of Tax Simplification (OTS) has published a second report on the tax treatment of employee benefits and expenses. In its interim report which […]
