Ending late payments to small businesses

Two weeks ago (19 June 2019), small business minister Kelly Tolhurst unveiled a new package of measures she says will "end the unacceptable culture of late payment". The proposals she announced include introducing new powers for the small business commissioner, and...

P11D and P11D(b) deadline approaches

Employers have until 6 July 2019 to report employee benefits and expenses for the 2018/19 tax year. Any taxable benefits must be reported before the deadline using P11D and P11D(b) forms. Failing to meet the deadline could result in a penalty of £100 for every 50...

Recruiters call for flexible training levy

The apprenticeship levy should be changed to a ‘flexible training levy' that includes temporary workers, according to the Recruitment & Employment Confederation (REC). The levy is paid by employers with a pay bill over £3 million a year, who receive an allowance...

Pension rules ‘cause confusion’ for higher earners

A restriction on pension contributions for higher earners is "causing confusion for taxpayers", mutual insurer Royal London has warned. Under the current rules, tax is due on pension contributions when they exceed the standard annual allowance of £40,000. However, a...

Over-65s face social care timebomb

Most people over 65 have not prepared for funding social care in later life, despite around half of all care users having to cover some of the costs themselves. Research from the Association of British Insurers (ABI) revealed that 89% of over-65s have made no plans to...