In response to the Covid-19 pandemic, the Government temporarily relaxed the rules surrounding the employee working from home (WFH) allowance. For the 2020-21 and 2021-22 tax years, employees could claim £6 per week (£312 annually), even if they only worked

A new ‘failure to prevent fraud’ offence is being introduced by the Government to encourage businesses to do more to deter offending, which will ultimately protect themselves, consumers, and other businesses. The new legislation, which is likely to come into

As a business owner, determining the ideal salary for company directors can be tricky. Often, most directors will want to balance their salary and dividend payments to be as tax efficient as possible. The 2023/24 tax year presents an array

The High Income Child Benefit Charge (HICBC) was introduced in 2013 and was set up to charge tax on individuals claiming child benefits who were earning a yearly income in excess of £50,000. The tax charges equate to the following:

Residential landlords are the latest group to have been targeted in receiving ‘nudge’ letters from HM Revenue & Customs (HMRC). The letters are part of a targeted ‘nudge’ campaign from HMRC to remind landlords of their obligation to declare their

The Residence Nil Band Rate (RNRB) was introduced by the Government in 2017 and benefits families passing on their main property to a direct descendent. Since its introduction, millions of families around the UK have benefitted from its ability to

Changes to personal tax allowances and higher interest rates have seen a growing number of people being affected by fiscal drag. Fiscal drag is the phenomenon where taxpayers are pushed into higher tax brackets due to wage increases as they

The way in which Student Loans are repaid is changing and employers need to be prepared. Currently, graduates and students who have taken out student loans are required to repay their loan when they earn an annual salary of £27,295

Benefits in Kind (BIK) cover a number of different perks or additional payments made by employers to their employees. They can include any of the following: Private Healthcare Loans Company cars Gym memberships And much more. The above are all