The following article refers to a recent First Tier Tribunal which found in favour of HMRC and deemed VW T5 Kombi’s to be cars rather than vans resulting in further tax and NI due on the benefit in kind. Car or van for tax purposes The vehicle industry is asking for prompt clarification and guidance.
You don’t have to pay tax on a benefit for your employee if all of the following apply: it cost you £50 or less to provide it isn’t cash or a cash voucher it isn’t a reward for their work or performance it isn’t in the terms of their contract This is known as a Read more about Trivial benefits – tax free benefits[…]
These rates are for the National Living Wage and the National Minimum Wage. The rates change every April. Year 25 and over 21 to 24 18 to 20 Under 18 Apprentice October 2016 (current rate) £7.20 £6.95 £5.55 £4.00 £3.40 April 2017 £7.50 £7.05 £5.60 £4.05 £3.50 Apprentices Apprentices are entitled to the apprentice rate Read more about National Minimum Wage changes April 2017[…]
Use this service to find out if you, or a worker on a specific engagement, should be classed as employed or self-employed for tax purposes: https://www.gov.uk/guidance/check-employment-status-for-tax
From April 2017, Contractors working on Public sector contracts are no longer responsible for determining their own IR35 status. The Public sector engager/end client will have to determine the IR35 status of a particular contract. If the contract is assessed to be inside IR35, the entity which pays the contractor’s limited company (most likely to Read more about Public Sector IR35 Changes April 2017[…]
From 1 April 2017, the government will introduce a new flat rate category of 16.5% for businesses with limited costs. The government believe that the Flat Rate VAT scheme has been abused in certain sectors where a limited company is used solely for accessing the Flat Rate VAT benefit, for a worker who is caught Read more about Changes to the VAT Flat Rate Scheme April 2017[…]