Getting to Grips with PAYE

HMRC recently reviewed the ‘effectiveness’ of its risk-based approach to late filing PAYE penalties, and opted to continue to use this approach for the current tax year. Here we provide an overview of the PAYE system. How the PAYE system works Pay As You Earn (PAYE) is the system through which employers deduct an amount … Continue reading Getting to Grips with PAYE

Autumn Business Newsletter

Our latest newsletter is here, packed with information on estate planning, VAT schemes, capital allowances and much more! To view our latest newsletters, visit the publications section of our website. Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.

PAYE Exemptions & Dispensations

Under the current system, Employers have been able to apply to HMRC for a dispensation to be granted in respect of certain expenditure, for example business entertainment, travel and subsistence. Once such a dispensation is in place, the expenses no longer have to be declared on the annual return of expenses payments and benefits (form … Continue reading PAYE Exemptions & Dispensations

Happy Holidays From Green & Co

As we take our Christmas break at the end of another productive year, we would like to take this opportunity to thank you, our loyal blog readers! Whether you are already a client, a prospective client, or just like to read our informative articles each week, it is you who keeps this blog going. Working … Continue reading Happy Holidays From Green & Co

Shared Parental Leave: The Generation Game

Under plans announced by George Osbourne, working grandparents could soon be given the legal right to take time off to help care for their grandchildren. The current system of shared parental leave, incorporated in April, looks to be extended to include grandparents as well as the child’s mother and father. While the leave of up … Continue reading Shared Parental Leave: The Generation Game

Benefits To Payrolling Benefits In Kind

From April 2016, the government is allowing employers to payroll employee benefits in kind. Payrolling is where the employer includes a notional value for benefits in kind as taxable pay in the payroll cycle, meaning that the income tax is collected in real time. Currently, tax for employee benefits in kind is collected through a … Continue reading Benefits To Payrolling Benefits In Kind

New Tax Allowance for Savings Income

From 6 April 2016 a 0% rate will apply to savings income of up to £1,000 and, in line with this, from the same date, banks and building societies will no longer deduct tax from the interest they pay to depositors who hold Non-ISA accounts. The introduction of the new Personal Savings Allowance (PSA) will … Continue reading New Tax Allowance for Savings Income

Reclaiming Your Statutory Payments

As an employer, you may already know that you can reclaim 92% of your statutory payments such as Maternity, Paternity and  Adoption Pay. However, you may not be aware that you can actually claim 103%! Yes, you heard correctly. If the total of your employees and employers Class 1 National Insurance in the previous year … Continue reading Reclaiming Your Statutory Payments

Sharing The Responsibilty with Shared Parental Pay

With more and more ‘hands on’ fathers across the country, the introduction of Shared Parental Leave and Shared Parental Pay has been seen as a welcome addition.  However, many employers are still coming to terms with the complexities of the process. Here is a brief overview of what it may mean for you: When does … Continue reading Sharing The Responsibilty with Shared Parental Pay