Chancellor on the case to clamp down on the activity of offshore Umbrella Companies We wanted to follow on from our previous blog 'HMRC Debit Transfer Process' published last month, looking at the NASUWT Teachers Union Bulletin. Here we looked into who was responsible for the failure of some TAX being paid through certain offshore Umbrella Companies. With this investigation now underway, it is important to ensure that your Umbrella Company is providing the complete service required, following … [Read more...]
Real Time Information (RTI)
The amount of PAYE Schemes to report Real Time Information (RTI) is reported to hit One Million From the 6th April 2013 the HMRC required that PAYE Schems must report PAYE in Real Time (RTI). Most employers now are required to report PAYE in Real Time Information (RTI) to the HMRC. This means that the employer must send any required information via Real Time Information (RTI) to the HMRC, at the point that an employer pays an employee. "Our research shows ... the first employers to try RTI … [Read more...]
HMRC Debt Transfer – Extended
If you have not paid the correct UK TAX, you could be visited by HMRC! After the Government saw a failure in collecting TAX and National Insurance Contributions from certain companies, the Treasury has issued a 2nd Consultation Document. This document states that third parties are now liable for any unpaid TAX if the Managed Service Companies are closed due to the HMRC questions and challenging the organisation. New legislation brought out in March 2013, allows the HMRC to begin to challenge … [Read more...]
HMRC Debt Transfer Process
If you have not paid the correct UK TAX, you could be visited by HMRC! After the Government saw a failure in collecting TAX and National Insurance Contributions from certain companies, the Treasury has issued a 2nd Consultation Document. This document states that third parties are now liable for any unpaid TAX if the Managed Service Companies are closed due to the HMRC questions and challenging the organisation. New legislation brought out in March 2013, allows the HMRC to begin to challenge … [Read more...]
UK Considers Cut in Minimum Wage
Ministers are considering freezing or even cutting the minimum wage, despite embarking on the largest contraction to date in the welfare state with the aim of making “work pay”. The wage, paid to almost a million low paid workers at companies such as retailers and manufacturers, has never been cut since its introduction in 1999. Click Here to read more about the Cuts in Minimum Wage Content By Hannah Kuchler and Kiran Stacey … [Read more...]
Treasury seals Guernsey tax deal
“British citizens using Guernsey to keep their money from the prying eyes of the taxman will have to declare their assets to the Treasury under an agreement designed to combat tax evasion." Click Here to read more about the Guernsey Tax Deal - Content from www.ft.com - By James Pickford, London and Southeast Correspondent … [Read more...]
New tax-free childcare benefit scheme in place from Autumn 2015
The Government has announced that from autumn 2015 there will be a new benefit scheme to help with childcare costs to replace the current childcare voucher scheme. The new scheme will be available to families in which both parents work and worth up to £1,200 per child each year. In the first year, all children under 5 will be eligible, with the child age limit eventually including all children under 12. Click Here to read more about the New tax-free childcare benefit - Content from … [Read more...]
What does the future hold for employers and the Governments Auto-Enrolment Pension Scheme?
We are all aware that the Governments Auto-Enrolment Pension Scheme started last October with all companies no matter what size will have to comply with the new regulation by 2017. The Government has set a minimum total percentage that has to be contributed by employers increasing every year i.e. 2013 2017 - 1% is to be contributed by the employer and the employee 2017 2018 2% is to be contributed by the employer and 3% by the employee 2018 on-going 3% is to be contributed by the employer … [Read more...]
Auto-Enrolment
Is there internal politics going on in your business with Finance, HR, payroll, operations and board members waiting for each other to make the first move? If so, is it all about Auto Enrolment? Last October saw the first staging date of the Governments Auto-Enrolment (AE) Pension Scheme, which requires employers to provide all eligible workers with a pension. Starting with the largest companies in the country, staging dates have been laid out by the Department of Work and Pensions (DWP) that … [Read more...]
Job Growth 2013
Latest REC report says UK jobs market will grow throughout 2013. According to the Recruitment and Employment Confederation’s findings, as the threat of a triple dip recession looms it has not affected employer’s hiring. Of 600 employers surveyed, 35% said they plan to increase their use of temporary workers in the next 4-12 months. This is up 3% on last month. 57% said they would be maintaining their current level of contractors and temporary workers through to 2014. Click Here to read more … [Read more...]