Employers must comply with new payslip rules

Under the Government’s Good Work Plan, more than 300,000 workers have received a payslip for the first time under new rules that came into force in April. However, experts fear that many employers may be unaware of the recent changes and how it could affect them. The new rules require employers to include variable rates of pay and hours worked within their payroll reporting, which Read more…

Beware the Employer Compliance Check Questionnaire

HM Revenue & Customs (HMRC) is understood to be sending out “Employer Compliance Check Questionnaires” without notifying agents, which could land businesses in trouble if the wrong information is provided. The questionnaires are understood to be a replacement or substitute for a PAYE audit, which would typically require a visit from HMRC to ensure that a business’s payroll is compliant and being managed correctly. The Read more…

Pass on up to £950,000 tax-free in 2019-20

As of 6 April, direct descendants can inherit up to £950,000 completely free of income tax from their parents or grandparents thanks to increases in the residence nil-rate band. This tax-free allowance on inherited property has risen from £125,000 to £150,000 this year and will rise again next year to £175,000. In order to qualify for this allowance, an individual must pass on their main Read more…