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Employing someone step by step
There are a multitude of rules and regulations that you must be aware of when you employ staff.
HMRC’s guidance (entitled Employ someone: step by step) sets out some important issues to be aware of
Government U-turn on 45p tax rate
The Chancellor, Kwasi Kwarteng has announced plans to scrap the proposed removal of the 45p tax rate from April 2023. The proposed removal of the 45p Rate was first announced as part of the Growth
Changing a will after death
In certain circumstances, a will can be changed after death. This can be done by using what is known as a Deed of Variation. Any changes to the will must be done within two years from the date of
Minimum wage for different types of work
Employers must ensure they are paying staff at least the National Minimum Wage (NMW) or National Living Wage (NLW). The NMW and the NLW are the minimum legal amounts that employers must pay their
Tax relief for job expenses
Employees who are working from home may be able to claim tax relief for bills they pay that are related to their work.
Employers may reimburse employees for the additional household expenses incurred
Joining the MTD ITSA pilot
Many businesses and agents are already keeping digital records and providing updates to HMRC as part of a live pilot to test and develop the Making Tax Digital (MTD) for Income Tax Self-Assessment
Capital Allowance Pools
A Writing Down Allowance (WDA) is available for plant and machinery expenditure that exceeds the Annual investment allowance (AIA) and / or does not qualify for a First-Year Allowance as well as for
Private residence relief
In general, there is no CGT payable on a property disposal which has been used as the main family residence. An investment property which has never been used as a private residence will not qualify.
IR35 reforms
One of the measures the Chancellor of the Exchequer, Kwasi Kwarteng referred to in the delivery of the Growth Plan 2022 (commonly referred to as the mini-Budget) concerned moves to simplify IR35
The Growth Plan 2022
The new Chancellor of the Exchequer, Kwasi Kwarteng, delivered a fiscal statement referred to as The Growth Plan 2022 on 23 September 2022. The statement to a packed House of Commons centred on the
