Payroll news

Spring Budget 2024 Summary

Spring Budget 2024 Summary

Spring Budget 2024 Summary Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’. Lowering taxes The Chancellor made further changes to...

Mandatory payrolling of employment benefits from 2026

Mandatory payrolling of employment benefits from 2026

HMRC have announced that from April 2026, the reporting and payment of income tax and Class 1A National Insurance Contributions (NIC) on benefits in kind will be required to be made through payroll software. This is a significant development and will affect all...

Autumn Statement 2022 – key tax announcements

Autumn Statement 2022 – key tax announcements

The Chancellor, Jeremy Hunt, has given his first Autumn Statement. We have highlighted below some of the key tax announcements made by the Chancellor:   Personal tax thresholds The Chancellor has announced that personal tax thresholds will be frozen for a further...

Spring Statement 2022

Spring Statement 2022

Spring Statement 2022 Against a backdrop of rising inflation, Chancellor Rishi Sunak presented his first Spring Statement on Wednesday 23 March 2022. In his Spring Statement, the Chancellor announced a cut in fuel duty for petrol and diesel as he sought to ease the...

HMRC updates Salary Sacrifice guidance

HMRC updates Salary Sacrifice guidance

HMRC updates Salary Sacrifice guidance HMRC has removed the guidance on 'Salary sacrifice arrangements set up before 6 April 2017' as the transitional arrangements for calculating the value of the benefit came to an end on 5 April 2021. A salary sacrifice arrangement...

Changes to the off-payroll working rules from April 2021

Changes to the off-payroll working rules from April 2021

If your business utilises subcontractors who provide personal services through limited companies or other intermediaries, then you may have to make substantial changes to comply with new rules which take effect from April 2021. It is vital that you act now to ensure...