To make accounting for private use of fuel simpler, you can choose to apply the VAT fuel scale charge. This scale charge adds back a fixed sum each VAT period to account for the private use of fuel, making redundant any need to split the mileage between business and private use. The scale charge for … Continue reading VAT Fuel Scale Charge
The Government’s new Tax-Free Childcare scheme will be phased in across the UK from 28 April 2017, and will replace the current Childcare Voucher Scheme. For the first time, the scheme will not only cover full time employees but also those who are part time, on maternity, paternity or adoption leave and people who are … Continue reading Tax Free Childcare
Barrie Kenyon of Green & Co features in this weeks South Wales Argus discussing how some changes in the new tax year will effect employees as well as employers. The new tax year has seen a raft of changes, with more legislative reform scheduled to come into effect over the next few years. From changes … Continue reading Barrie Kenyon Features In This Weeks South Wales Argus
From 6 April 2017 the tax and employer national insurance advantages of a salary sacrifice or salary exchange will be removed, with the exception of: Pensions Childcare (Vouchers, workplace nurseries or directly contracted childcare) Cycle to work Ultra-low emission cars with co2 emissions of or less than 75g/km. Any employees who have swapped their salary … Continue reading Some employee perks are losing their tax breaks.
As announced by the Chancellor in the Autumn Statement, the rate of the National Living Wage is set to increase to £7.50 per hour from April 2017. In line with this, the government has accepted the recommendations of the Low Pay Commission for the National Minimum Wage and from April 2017 the new rates will … Continue reading National Living Wage and National Minimum Wage
Here we are again - can ‘yule’ believe it’s that time of year when businesses like to ‘present’ their staff with a reward for all their hard work? Did you know that certain gifts can be tax efficient? The VAT man won’t entirely ‘reindeer’ on your parade. First off, we have employee gifts. It doesn’t … Continue reading ‘Tis The Season Of Giving – Some Christmas Cheer From The VAT Man
Further detail has been released on the new tax free childcare scheme that HMRC are set to debut in early 2017. Under the scheme eligible parents open an online account, which they can use to pay a registered childcare provider. HMRC top up the account with £2 for every £8 paid in, up to a … Continue reading Update on Tax Free Childcare
With last Saturday marking the beginning of the new National Minimum Wage, it has never been so important for employers to ensure they are paying their employees the correct wages. Last month, HMRC continued its Name and Shame scheme by publishing a further 197 companies who owed a collective £465,000 in arrears. Since the Name … Continue reading Named and Shamed: The Importance of the Minimum Wage
Since May of this year, the government’s ‘Get In Go Far’ advertising campaign has sought to encourage more young people to consider an apprenticeship. The four year campaign is in line with the government’s commitment to create 3 million apprenticeships by 2020. The aim is to inform and inspire young people to consider apprenticeship as … Continue reading Get In, Go Far with Apprenticeship Schemes
The rates from 1st October 2016 are: £7.20 per hour – 25 yrs and over £6.95 per hour – 21 to 24 yrs £5.55 per hour – 18 to 20 yrs £4.00 per hour – 16 to 17 yrs £3.40 per hour – apprentices under 19 yrs £3.40 per hour - apprentices over 19 yrs … Continue reading The National Minimum Wage is changing – Are you prepared?