Businesses may be able to reclaim significant amounts of National Insurance Contributions (NICs) and plan for future savings because of a recent Tribunal ruling on how car allowances are taxed. Brought by Wilmott Dixon and Laing O’Rourke in their capacity as employers, the Tribunal upheld the firms’ argument that car allowance payments should qualify for […]

HM Revenue & Customs (HMRC) has made a significant change to the way that some taxpayers access its alternative dispute resolution (ADR) scheme. Where applicants for ADR could previously speak with a call handler, they will now be asked to leave a voicemail on the new 24-hour service. Available to anyone seeking to settle a

The Government plans to introduce new legislation to help parents who earn more money than others with their future pensions. In essence, if you did not claim child benefit because you earned over £50,000 when you had children, you will soon be able to claim National Insurance credits. These credits are important for getting the

Starting in April 2026, UK employers will have to include the benefits they give to their employees, like company cars or health insurance, directly in their payroll. This means these benefits will be taxed through the payroll system, and not reported separately. This change is to make tax reporting easier for employers, but it also

There is a series of impending changes to UK company law as a result of the enactment of the Economic Crime and Corporate Transparency Act last year. These highly anticipated changes, expected to commence on 4 March 2024, subject to parliamentary schedules, will significantly impact the operation and compliance requirements of your company. Directors must

Making employees feel valued is critical for their morale, engagement, and overall well-being. Often, it’s the smaller gestures that have the most significant impact on employees’ perceptions of their work environment and employers. What are trivial benefits in kind? The term ‘trivial benefits in kind’ refers to minor token gifts that employers can offer staff

As the crypto asset sector grows, with an annual growth rate predicted to reach around 12 per cent, taxpayers with digital assets need to remain tax compliant. Tax regulations and knowledge have struggled to keep pace with this investment type’s rapid growth, resulting in significant levels of unpaid tax and underreported income. In a bid

For limited companies registered and operating in the UK, one of the requirements that directors must meet is filing annual accounts with Companies House. Comprising a collection of different documents, filing with Companies House ensures that the publicly available information about your company is correct. Because it is so important, there are penalties for not

Despite many owners’ fears, insolvency is avoidable through well-thought-out financial strategies and careful planning. There are several practical strategies for averting insolvency that you and your business should implement during times of strife and economic difficulty. Rethinking staffing strategies  During a downturn, businesses should evaluate their current staffing needs and consider adjusting staff levels to

In 2024, small and medium-sized enterprises (SMEs) will face a brand-new set of challenges and opportunities. As the economy continues to react to the events of the last few years, one thing remains important – high-quality business advice. Below, we look at some practical tips for SMEs aiming to scale up and grow their operations