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Salary Sacrifice Rules To Be Tightened Up

Many employers now provide flexible remuneration packages. These allow employees to give up some of their contractual salary in exchange for benefits in kind. This can have the effect of saving tax and National Insurance contributions for both the employee and employer, particularly where the benefit provided is exempt from tax. These tax and NIC […]

Read more November 29th, 2016

Higher Rate Tax Relief for Pensions Continues

There has been much speculation that the Government would further limit tax relief for pension contributions by removing higher rate tax relief. That measure would save the country £34 billion in tax. However, the only change announced concerns a new lower limit on amounts that can be saved in a pension when individuals have started […]

Read more November 29th, 2016

“Abuse” Of The VAT Flat Rate Scheme

The VAT flat rate scheme is a simple scheme that enables small businesses to calculate and pay their VAT based on a flat rate percentage of total takings rather than deducting input tax on purchases and expenses and deducting that from total output tax on sales in the period. HMRC believe that the scheme is […]

Read more November 29th, 2016

Coaching For Success

In the past, coaching was not offered as a benefit but mandated to those failing to achieve their workplace goals. The term “coaching” was synonymous with “remedial training” and carried an implication of failure. Fortunately, those days have passed and savvy business leaders and HR professionals have realised that coaching can be a great benefit […]

Read more November 22nd, 2016

Quarterly Report by Employment Intermediaries

Ever since 6 April 2015 employment agencies and other intermediaries have been required to make quarterly reports of payments made directly to workers or via partnerships, LLPs and companies where no tax has been deducted from the payments. HMRC have recently updated their guidance to intermediaries to make it clear that, where an employment intermediary […]

Read more November 9th, 2016