Displaying 1-30 of 92 results
INSIGHTS VIEWPOINT
Help ICAEW tackle PAYE liabilities and payments discrepancies
- Nov 2024
- ICAEW Insights
ICAEW’s Tax Faculty is asking employers to provide details on a confidential basis of discrepancies between their records and HMRC’s pay as you earn (PAYE) liabilities and payments records.
Exclusive
TAX FACULTY
What are the managed service company rules?
- Nov 2024
- ICAEW
- Taxline
In the first of two articles exploring the managed service company rules, David Kirk looks at the definition of an MSC and explains the consequences of falling within the scope of the rules.
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
Technical round-up: October 2024
- Oct 2024
- ICAEW Insights
This month’s top stories feature eight Budget updates covered by ICAEW’s Tax Faculty, a list of software products that are now ready for MTD ITSA, and new VAT guidance for private schools.
INSIGHTS VIEWPOINT
Budget updates on manifesto commitments
- Oct 2024
- ICAEW Insights
The government has provided updates on some of the key measures included in the Labour Party’s general election manifesto, including the taxation of “non-doms” and charging VAT on services provided by private schools.
INSIGHTS VIEWPOINT
National insurance increases for employers announced in Budget
- Oct 2024
- ICAEW Insights
From April 2025, employers will pay national insurance contributions (NIC) on an employee’s earnings above £5,000 at the rate of 15%. The employment allowance will be increased to £10,500 per year to help smaller businesses.
INSIGHTS VIEWPOINT
New process for PAYE job expense claims
- Oct 2024
- ICAEW Insights
From 14 October 2024, pay as you earn (PAYE) claims for tax relief for employment expenses must be made using form P87, with supporting evidence provided by post. The process for making a claim via self assessment is unchanged.
INSIGHTS VIEWPOINT
Changes to HMRC’s agent dedicated line
- Oct 2024
- ICAEW Insights
From 7 October 2024, there will be one combined agent dedicated line (ADL) for self assessment (SA) and pay as you earn (PAYE), and a new process for chasing SA repayments.
Tax news in brief 25 September 2024
- Sep 2024
- ICAEW Insights
Highlights from the broader tax news for the week ending 25 September 2024, including: new guidance from HMRC on transfer pricing and VAT compliance; updated HMRC bank details for some taxes and duties; and a reminder from HMRC to register for self assessment by 5 October 2024.
INSIGHTS VIEWPOINT
Tough choices ahead as public spending continues to rise
- Sep 2024
- ICAEW Insights
Year-to-date deficit is the third highest for August since monthly records began.
INSIGHTS VIEWPOINT
Further details emerge on claiming PAYE repayments
- Aug 2024
- ICAEW Insights
HMRC’s communications and guidance on claiming pay as you earn (PAYE) repayments omits key information. ICAEW’s Tax Faculty explains more about the new process.
INSIGHTS VIEWPOINT
Employees must claim PAYE repayments
- Jul 2024
- ICAEW Insights
HMRC will no longer automatically issue a cheque where an employee is due a repayment under pay as you earn (PAYE). Instead, the employee must take action to receive the repayment.
INSIGHTS VIEWPOINT
Rules for reporting salary advances relaxed
- Jun 2024
- ICAEW Insights
Changes have been made to the rules applying to advances on wages and pay as you earn (PAYE) real time information (RTI) reporting.
Exclusive
TAX FACULTY
How to prepare for mandatory payrolling of benefits in kind
- Jun 2024
- Michael Nicolaides and Kym Wise
- Taxline
HMRC has announced that employers must payroll benefits in kind from April 2026. In this article, Michael Nicolaides and Kym Wise consider what we do and do not know about HMRC’s plans, and how employers can begin to prepare for the changes.
INSIGHTS VIEWPOINT
TECHNICAL ROUND UP
Technical round-up: May 2024
- May 2024
- ICAEW Insights
This month’s top stories include a HMRC warning about VAT bank details fraud; an NAO report showing taxpayers have been let down by poor HMRC service; and HMRC rejecting the ‘brightline’ test for furnished holiday lets.
INSIGHTS VIEWPOINT
HMRC launches fully digital service for voluntary NI contributions
- Apr 2024
- ICAEW Insights
The government has launched a new service that allows individuals to identify gaps in their national insurance (NI) record and make voluntary contributions without phoning for a reference number.
INSIGHTS VIEWPOINT
Avoid payroll errors with HMRC’s online starter checklist
- Apr 2024
- ICAEW Insights
New employees should complete the starter checklist before their first payday so their employer can report the details via PAYE RTI to HMRC correctly first time.
INSIGHTS VIEWPOINT
Payroll and rewards updates from ICAEW
- Apr 2024
- ICAEW Insights
ICAEW’s Tax Faculty has published a TAXguide on PAYE rates, thresholds and allowances, and produced a webinar on recent changes in employment taxes and related areas.
INSIGHTS VIEWPOINT
ICAEW gives five reasons to use the HMRC app
- Mar 2024
- ICAEW Insights
Join the 1.2m people a month using HMRC’s app to get tax information, stay up to date with tax payments and more.
Tax news in brief 13 March 2024
- Mar 2024
Highlights from the broader tax news for the week ending 13 March 2024, including: the publication of legislation providing for the Spring Budget NIC cuts; changes made by secondary legislation across a range of areas, including R&D tax relief, PAYE and CIS; new HMRC guidance on ISAs; and the opportunity to claim a refund for Italian VAT paid on goods and services related to Italian business activities.
INSIGHTS VIEWPOINT
Outlook for public finances broadly unchanged
- Mar 2024
- ICAEW Insights
Chancellor cuts national insurance again but defers difficult decisions on public spending until after the general election.
INSIGHTS VIEWPOINT
Non-dom regime replaced by foreign income and gains regime
- Mar 2024
- ICAEW Insights
In the Spring Budget, the Chancellor announced that the current remittance basis of taxation will be abolished for UK resident non-domiciled individuals from 6 April 2025 and replaced by a new four-year foreign income and gains (FIG) regime.
INSIGHTS VIEWPOINT
A pre-election Budget lacking in rabbits or hats
- Mar 2024
- ICAEW Insights
An extension of full expensing to leases is welcome news for businesses in a Budget that delivers nothing unexpected.
INSIGHTS VIEWPOINT
Government cuts NIC rates again for employees and self-employed at Spring Budget 2024
- Mar 2024
- ICAEW Insights
From 6 April 2024, the headline rate of NIC will fall from 10% to 8% for employees, and from 9% to 6% for the self-employed. The government will also consult on how it will abolish Class 2 NIC.
INSIGHTS VIEWPOINT
Modest boost to public finances won’t stop taxes rising
- Feb 2024
- ICAEW Insights
Prior month revisions boost public finances despite worse than expected self assessment receipts, as a think tank says tax cuts in the Budget will be sandwiched between tax rises in the years before and after.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
Calculating NIC for directors in 2023/24
- Jan 2024
- ICAEW
ICAEW’s Tax Faculty explains how to calculate national insurance contributions (NIC) for directors this year including where the alternative method is used.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
In case you missed it – the best of tax in 2023!
- Dec 2023
- ICAEW
ICAEW’s Tax Faculty highlights the key tax articles, events and guidance available on icaew.com.
Exclusive
CONSTRUCTION AND REAL ESTATE COMMUNITY
Autumn Statement 2023
- Nov 2023
- Ros Rowe
While headlines focused on the immediate cut in National Insurance, the key element of the Autumn Statement was the focus on long term plans aimed at resolving difficulties in the housing and infrastructure sectors. The challenge for the Chancellor is whether the electorate view these plans as credible, given implementation will have started and not completed before the next election.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
NIC rate cuts for self-employed and employees
- Nov 2023
- ICAEW
National insurance contributions (NIC) will be reduced to 8% for the self-employed and to 10% for employees, and the flat rate class 2 NIC will be abolished for most self-employed, the chancellor has announced.
Tax news in brief 23 November 2023
- Nov 2023
Highlights from the broader tax news for the week ending 23 November 2023, including: VAT on local authority supplies of sporting services; reclaiming tax paid on loans to participators; income record viewer update; and gift holdover relief claims.
FACULTIES ONLINE
TAX FACULTY
TAX NEWS
PAYE reporting for early payments of earnings at Christmas
- Nov 2023
- ICAEW
It is common practice for employers to pay earnings earlier than the normal or contractual payday at Christmas. But what date should employers quote on their PAYE RTI full payment submission (FPS)? And when should they submit the FPS to HMRC?
Displaying 1-30 of 92 results
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