Latest News
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Capital allowances - optimising tax efficiency
Tax relief for buying equipment used in a business is given as capital allowances. The directors or the company can claim the capital allowances depending on who buys and owns the equipment. But which is the most tax efficient option?
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NI rates hiked - how much more will workers pay?
Earlier today (7 September) Boris Johnson announced that NI and dividend tax rates will be hiked to help fund social care, pay for coronavirus support measures and clear the NHS backlog. Who will be affected and by how much?
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Calculating notice and redundancy pay for furloughed employees
The Coronavirus Job Retention Scheme (CJRS) is due to end on 30 September 2021. If there is then a need to make furloughed employees redundant, how must employers calculate their statutory notice and redundancy pay?
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HMRC to stop paying certain benefits to Post Office accounts
HMRC is to stop paying certain benefits to Post Office accounts from the end of November 2021. Which payments are affected and what do account holders need to do before then?
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Furlough scheme: has employers’ NI been overclaimed?
The Institute of Chartered Accountants in England and Wales (ICAEW) has issued new guidance that describes two scenarios where employers using the furlough scheme may have inadvertently reclaimed secondary Class 1 NI twice when the scheme was first introduced. What’s the full story?
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Ten outrageous excuses for not paying the minimum wage
The government has revealed ten of the most outrageous excuses employers have used for failing to pay their workers the national minimum wage (NMW). What are they?