Auto-Enrolment PenaltiesThe FactsAuto-Enrolment Penalties are on the rise! The Pensions Regulator (TPR) published their statistics for the 1st quarter of 2016 and I have to say WOW! 806 fixed penalties have been issued in the 1st 3 months of 2016, compared with 1,250 issued in the whole of 2015.So do you know your obligations or Read more about Auto-enrolment penalties rising[…]
Auto Enrolment Checklist The legislation surrounding auto enrolment can be quite tricky when faced with an over whelming set of tasks, rules, regulations and jargon it is difficult to fully understand what is expected, of you. Well here is our 9 steps DIY Auto Enrolment Checklist. Know your staging date Confirm who to contact with Read more about Basic Auto Enrolment checklist[…]
Tax-free perks A new tax exemption for perks came into effect on 6 April 2016. It applies to all employees, but there are special rules for directors. So what is the new exemption? The exemption for job-related low value perks, was originally meant to take effect in April 2015 but it proved too controversial and Read more about Tax-free perks what are they worth to you[…]
Tax-free meals new statutory rates HMRC’s concessionary practice, which allow employers to pay their workers a tax and National Insurance free flat rate allowance for subsistence when they travel on business , will be replaced by a statutory version on 6 April 2016. The rules for the old and new systems are similar except that Read more about Tax-free meals new statutory rates[…]
It’s when HMRC carries out checks to make sure a specific tax return or claim is correct and/or to check that payments are for the right amount and are made on time. Some checks are done on a random basis as to discourage evasion. A compliance check can be anything from a 5 minute phone Read more about So, what is a compliance check?[…]
On 6th April 2016 one person (director) companies ceased to qualify for the employment allowance (EA). So you’re now thinking I will add my spouse or partner to the payroll and pay them a token salary each month. However, in HMRC’s Employer Bulletin in February 2016 it says “we will keep you informed through the Read more about Employers Allowance 2016/17 update[…]
Companies House has announced that from June 2016 the Confirmation Statement will replace the current Annual Return. So what does this mean? At least once a year you will need to review the information held by Companies House and confirm whether it is correct or not. What is involved in a Confirmation Statement? Just like Read more about Companies House – Confirmation Statement[…]
You are required to set up a scheme if you are an employer or employee anyone classed as a worker. What is a worker? A worker is defined as any individual who: Works under a contract of employment (an employee), or Has a contract to perform work on services personally and is not undertaking the Read more about Auto-enrolment – when do you need to set up a scheme?[…]
By law every company must maintain a physical register containing certain information about it and its directors and shareholders. However, a change in the rules means that soon this might not be necessary. Changes to the rules in 2015 and 2016 mean that companies are now required to keep and report more information about their Read more about Upcoming changes to the maintenance of the company register[…]
HMRC has published guidance allowing employers to provide trivial benefits without reporting them. You don’t have to pay tax on a benefit for your employee if all of the following apply: it cost you £50 or less to provide it isn’t cash or a cash voucher it isn’t a reward for their work or performance Read more about Tax exemption for Trivial benefits[…]