What to expect when providing staff with perks. Most employers choose to recognise the ongoing commitment made by their members of staff by providing various benefits and rewards. Whether that’s in the form of the Christmas party or it extends to benefits such as a cash bonus or flexitime, it all helps to ensure employees… Continue reading Tax and employee benefits – what you need to know
The default basis for landlords’ accounts. Traders have been able to prepare their accounts using the cash basis since April 2013, as long as they meet certain eligibility conditions. This option was extended to landlords running unincorporated property businesses from 6 April 2017. However, while traders must elect for the cash basis, it applies by… Continue reading Landlords take note
A total of 745,588 people run the risk of being fined by HMRC after missing the deadline to submit their self-assessment tax return. About one in 15 taxpayers failed to beat the midnight deadline on 31 January 2018 to file their annual returns relating to the 2016/17 financial year. Late payers can expect an initial… Continue reading One in 15 face fines after missing tax return deadline
HMRC has had to return nearly half-a-billion pounds to taxpayers since April 2015, claims analysis of government statistics. Royal London reports the Revenue is overcharging on two areas of the tax system, and has had to refund £493 million as a result. Savers using the new pension freedoms are among the hardest hit, as income… Continue reading Taxpayers reclaim £493m from HMRC – do they owe you?
Food and drink businesses raised £22 billion from exports in 2017, a record high according to government figures. UK food and drink firms are now exporting products to 217 countries around the world, with whisky proving the most popular – bringing in £4.5 billion last year. This was followed by sales of salmon (£720 million),… Continue reading Thinking of exporting? – a few current stats
The number of employers that have complied with auto-enrolment passed one million for the first time in January 2018. Data released by The Pensions Regulator showed the total number of employers to have completed their declaration of compliance stood at 1,032,567 in the first month of 2018. More than 600,000 employers complied with their duties… Continue reading One million firms comply with auto-enrolment