Archive:September 2024

Many businesses across the UK have peaks and troughs in their trade, depending on the season. And some,
as a result, have to take on more helping hands to cover the workload just during that particular spell.

Businesses in this position have been reminded by HM Revenue and Customs not to forget about the matter of workplace pensions for temporary staff they’re hiring.
Particularly because it could lead to financial penalties if they don’t comply correctly and in time.

In an online notice, HMRC told employers hiring staff for a…

Amid the frequently repeated references to the £22bn ‘blackhole’ in the public finances and warnings
from the Prime Minister of a ‘painful’ Autumn Budget, it would appear that tax relief on pensions may be another area the Government seeks out to raise money.

We know Labour have had their eyes on pensions reforms. Their manifesto for the General Election stated: ‘We will also undertake a review of the pensions landscape
to consider what further steps are needed to improve pension outcomes and increase investment in UK markets.’

So, will we…

The Government has published a policy paper confirming the abolition of the Furnished Holiday
Lettings (FHL) tax regime.

It will mean that property investors will no longer get the existing tax benefits of FHLs from next April.

The previous Conservative government had unveiled plans to scrap it in the Spring Budget to help free up property stock and fund the National Insurance
cuts.

Published on 29 July, the documents set out confirmation of the move that was introduced in the Spring Budget in March under Rishi Sunak’s premiership.
The new Labour…

In four months’ time, the first reports are due for compliance with the new Digital Platform
Reporting rules.

The regime, introduced on 1 January this year, requires UK digital platforms to collect and report income information for sellers using their platforms.

The first reports must be submitted before the end of January 2025.

It’s all connected to the fact that the UK has signed up to the Organisation for Economic Development (OECD) Model Reporting Rules for Digital Platforms.

In recent weeks, HMRC published guidance for the rules around online marketplaces.

It has clarified…