Higher-rate earners hit by NICs rise

Individuals set to benefit from an increase to the higher-rate threshold in 2019 will only see half of the tax reduction expected, as a result of a measure not mentioned in the Budget speech. In Budget 2018, the Chancellor announced that the higher-rate income tax...

Treasury eyes ‘off-payroll’ crackdown

The Treasury is adding the finishing touches to revamped tax rules which in their current form are seen as enabling the self-employed to pay less in national insurance contributions, according to the BBC. Self-employed people who set up private companies to take on...

Half of businesses set to grant pay rises

Half of businesses plan to give staff pay rises of more than 2% in the next year, according to joint research by the British Chambers of Commerce (BCC) and Indeed. In a survey of 1,020 businesses, 50% of businesses said they planned to increase staff pay in line with...

P11D and P11D(b) deadline reminder

Employers have until 6 July 2018 to report employee benefits and expenses for the 2017/18 tax year. Any taxable benefits must be reported before the deadline using P11D and P11D(b) forms, which enable HMRC to calculate the class 1A national insurance contributions...

P11D filing deadline edges closer

Employers have 2 months to report employee benefits and expenses ahead of the 6 July 2018 deadline. At the end of the tax year, employers are required to report any taxable benefits given to staff over the previous 12 months that have not been deducted through...