As an employer you can pay PAYE to HMRC using a direct debit (DD) but each DD authority only applies for a single payment, so the effort is hardly worth it.
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There are now almost 10 million people who work from home and can benefit from the tax-free allowance of £6 per week (£26 per month) which their employer may choose to pay.
Continue ReadingProgramming an electronic till to suppress the recording of sales amounts to tax evasion and HMRC can impose some serious penalties on retailers who do this.
Continue ReadingTravelling to the workplace may now be unaffordable for some employees but employers who help by reimbursing travel expenses could be creating an extra tax burden for themselves and their employees.
Continue ReadingYour online personal tax account (PTA) is a useful source of information about your personal tax position and allows you to communicate with HMRC quickly and easily.
Continue ReadingScammers are very aware of the tax payment deadlines and will step-up their efforts to divert payments from taxpayers to their own bank accounts.
Continue ReadingThe Chancellor has announced a range of financial support measures to assist with energy costs. There is no direct support for businesses.
Continue ReadingThe making tax digital (MTD) rules currently only apply for businesses that submit VAT returns. Those traders need to keep their VAT records in a digital format and transmit their VAT return data directly from their digital records to HMRC using MTD-compatible software.
Continue ReadingWhen completing the annual expenses and benefits return (P11D) you need to know what company-provided vehicles each employee and director used in the tax year.
Continue ReadingUkrainian refugees are being hosted by private individuals and organisations in spare rooms and properties across the UK. The Government is providing hosts with a monthly payment of £350 per property, administered by local authorities.
Continue ReadingIt is time to report the expenses and benefits provided to employees during the year to 5 April 2022. This reporting process is known as the P11D after the number of the relevant HMRC form although these days the report is normally a function within payroll software.
Continue ReadingIt is important to keep your personal money and your company's money completely separate. If you use your company's bank card to buy personal items or to pay your own bills, that expenditure is treated as a loan to you.
Continue ReadingThe rates for national insurance contributions (NIC) increased by 1.25 percentage points for everyone on 6 April 2022. From 6 July the NIC starting threshold will rise to £12,570 per year (£1,048 per month) for employees.
Continue ReadingThe price of road fuel has increased significantly in the last few months and HMRC has responded by raising all the advisory fuel mileage rates for company cars from 1 December 2021.
Continue ReadingAll late paid tax now carries interest at 3%. Where the tax has been outstanding for more than six months a 5% surcharge on the outstanding amount may also apply.
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