TAX UPDATES

Budget Updates

• Spring Budget 2023
• Autumn Budget 2021
• Spring Budget 2020

This article provides an overview of the increased activity we are seeing from HMRC in contacing individuals with offshore sources of income. With the increased information which HMRC has access to such as overseas bank accounts, investments, trusts, assets etc HMRC want to ensure individuals are compliant with their UK income and capital gains tax reporting . Read on

Temporary Workplace Relief

This article summarises the deductions/tax reliefs available for employees who are working in multiple locations.  Key sectors impacted include for example hospitality and construction.  Under the current UK tax legislation, where an employee is attending a temporary workplace for a limited duration, the cost of certain expenses can be reimbursed free of tax/NIC.  The expenses include for example, accommodation, subsistence and travel expenses to and from their temporary workplace.  However, there are instances where for example your employer does not reimburse these expenses and therefore this is an additional cost to you as an employee. Depending on your circumstances e.g. your employment contract, working patterns, support provided by employer etc, you could be due back an income tax refund from HMRC. Read on

Non-UK Resident Directors

This article provides a summary of the key considerations and the tax/social security rules where Non-UK Resdient Directors sit on the board of the UK Company.  Non-UK Resident Directors on the Boards of UK companies will beconsidered as employed by or office-holders of the UK companies.Therefore, there is a requirement to withhold UK PAYE on a proportion oftheir remuneration received on any Director duties carried out in the UK.This article provides an overview of some of the key considerations for youas an employer from both an income tax and social security perspective.Ifyou have not previously considered your Non-Resident Director populationfrom a UK income tax and social security perspective, we would recommendthat you conduct a fullreview of this population.  Read on

Employer Tax Updates 

Today's Spring Budget 2017did not highlightany significant changes which would impact employers/employees from a UK employment tax perspective. Despite this, there are still a number of previously announced changes which are due to come in from 6 April 2017.This article provides a summary (which believe it or not was meant to be brief!) of the key changes along with recommendations of the actions UK employers need to take. Please note, some of these changes as highlighted will only impact employers of a certain size.

This includes salary sacrifice, gender pay gap reporting, off-payroll public sector workers etc. Read on

The end of salary sacrifice?

This article provides a summary of the key salary sacrifice changes announced in the 2016 autumn statement. 

Today's autumn statement has confirmed that from April 2017, all benefits (with the exception of a few excluded benefits), provided under a salary sacrifice arrangement, will be taxed in the same way as cash earnings.  This will result in reduced savings for both employers and employees looking to set up salary sacrifice arrangements from April2017.  Benefits ("excluded benefits") which can continue to be provided under a salary sacrifice arrangement include cars with very low CO2 emissions, pensions, childcare vouchers and cycles to work; Read on