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Did you know that your business can benefit from a tax-free allowance
if you host a celebratory event for your employees?

If not, you may have missed out for this year’s Christmas party.
Or if you’re planning a late festive party in January, this may come at just the right time!

It’s not just the yuletide
event that attracts this benefit, however. So, if you’re planning to throw staff a party, you can spend up to £150 each year per
employee and not have to pay tax or national…

For those of you who employ staff, you’ll be aware of requirements
surrounding workplace pensions. Changes could be afoot for pensions, with new proposals to give savers a legal right to
require a new employer to pay pension contributions into their existing pension pot. A consultation has been launched by the
Government. If later approved, a new system of ‘one pension pot for life’ would be born.

It would mean individuals can choose their pension provider rather than having one selected by their employer. One of the
aims of…

As with many new measures when they are first announced
by HMRC or the Treasury, it takes some time for these to trickle through to come into effect. The government announced
at Spring Budget 2023 that it would consult on expanding the cash basis. A formal consultation on proposals was
launched on 15 March this year and ran until 7 June. And now the measure has taken the next step, having been announced
in the Autumn Statement.
HMRC stated: “This measure changes how the cash basis operates for trading income….

We’re reaching that familiar point of the year again when the deadline for Self-Employment
Tax Returns begins to loom.
The best advice we can always offer to our clients is to collect all the relevant information and documents and share these with us as soon as possible.
Of course, the key date everyone focuses on each year is January 31 – the HMRC deadline for submissions.
However, it’s wise to provide your tax return information to us before the new year to ensure there are no last-minute rushes and to…

This is another article about Self-Assessment, specifically Student Loans and applies where:

– A taxpayer has an obligation to complete a Self-Assessment return, and
– They have an outstanding Student Loan balance (or Postgraduate Loan)
– Some of the Loan repayment is calculated in the employer’s payroll but the balance is due because of information declared on the tax return and
– The employer was payrolling benefits meaning the taxpayer’s taxable income was inflated

HMRC have advised their system calculates the Student Loan due based on taxable pay. This is incorrect. Student Loan repayments are…