What we think

Budget and Finance Acts reminder

Two Bills of particular note: National Insurance Contributions Bill It is with the small employer in mind that this Bill has been designed. If it passes, from April 2014 every business and charity will be entitled to a £2,000 employment allowance, as a deduction from their employer’s NIC bill each year. The Bill also contains… Read more

RTI Annual Scheme Hiccups Continue

HMRC’S ‘fix’ to the problem with annual PAYE schemes will now take place in July. An annual PAYE scheme is one where employees are paid only once a year.  An easement means that such schemes do not need to submit nil Employer Payment Summaries (EPS) for the 11 months during which no-one is paid, but… Read more

Sick pay tax break update

This year’s Budget highlighted help for companies to get long-term sick employees back to work (an employee who is off work for more than four weeks). Companies can already claim a deduction for corporation tax purposes for expenditure on staff health and welfare.  The proposed change affects the benefit in kind treatment for relevant employees…. Read more

RTI exemptions extended into 2014

HMRC have today announced that they are seeking to extend the temporary relaxation of the new reporting rules for businesses with fewer than 50 employees from October 2013 until April 2014. HM Revenue & Customs have confirmed however that this relaxation will come to an end at this point. The extension means that businesses will… Read more

Rental Property BPR Claim Denied

In our eNews update last month, we reported on Ramsey v Revenue & Customs Commissioners (2013) UK UT 0226 (TCC) in which Mrs Ramsey successfully argued that her house in Belfast, divided into 10 flats and let out, qualified as a business for capital gains tax purposes. The Upper Tier Tribunal agreed that the degree… Read more