Pensions – annual allowance
The annual allowance for tax relief on pensions was reduced to £40,000 (from £50,000) with effect from 6 April 2014. Pension providers are in the process of writing to pension scheme members contributing more than £40,000 per year. Finance Act 2011 Read more..
There are special rules that apply when an intermediary must treat a worker they provide to a UK-based client as an employee for Income Tax and National Insurance purposes.
Since 6 April 2014, a worker is treated as an employee if the following Read more..
National Minimum Wage
The new National Minimum Wage (NMW) rates will come into effect on 1 October 2014. The hourly rate of the NMW will increase to £6.50 (a rise of 19p) with effect from 1 October 2014 for adults aged 21 years and older.
The rate for apprentices under Read more..
RTI late filing penalties
The vast majority of employers are now reporting their PAYE information in real time. Following the introduction of RTI in April 2013, it was decided to stagger the start of the in-year late filing and payment penalties to give employers more time to Read more..
VAT liability of construction services
The First-tier Tribunal recently heard an appeal by a construction company regarding the VAT liability of construction services supplied at a residential property in a North London suburb. The homeowners had sought and been granted planning Read more..