Minimum Wage increases

The National Minimum Wage (NMW) and National Living Wage (NLW) are the legal minimum wage rates that must be paid to employees. Employers are liable to be penalised for not complying with the NMW and NLW rules.... Read Full Article...

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Tax-free childcare roll out

The implementation of Tax-Free Childcare, the new government scheme to help working parents with the cost of childcare, is being rolled out to eligible parents in stages. The scheme first made its debut in April 2017 and... Read Full Article...

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Proposals to extend pensions auto enrolment to younger workers

The government has announced proposals to extend pensions auto enrolment to include younger workers and to amend the way in which contributions are calculated. According to the press release: ‘The review’s recommendations, which will now be progressed... Read Full Article...

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Increased limits for knowledge-intensive companies

The government will legislate to encourage more investment in knowledge-intensive companies under the Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCTs). The government will: double the limit on the amount an individual may invest under the... Read Full Article...

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Proposed changes to Entrepreneurs’ Relief

The government will consult on how access to ER might be given to those whose holding in their company is reduced below the normal 5% qualifying level as a result of raising funds for commercial purposes by... Read Full Article...

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Improving Research and Development (R&D)

A number of measures have been announced to support business investment in R&D including: an increase in the rate of the R&D expenditure credit which applies to the large company scheme from 11% to 12% where expenditure... Read Full Article...

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Help to Save Accounts

The government have announced details of a new Help to Save saving scheme. The scheme is government backed and designed to support working people on low incomes build up their savings. The scheme, administered by HMRC, will... Read Full Article...

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New guidance for employers

HMRC have issued the October 2017 Employer Bulletin which contains a number of articles relevant to employers on payroll related issues. HMRC are advising that following the changes to the valuation of benefits in kind (BiK) where... Read Full Article...

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Making Tax Digital for VAT from April 2019

  The regulations to bring into force Making Tax Digital for VAT (MTDfV) are now law, and digital VAT returns will be required from 1 April 2019. MTDfV is the first phase of HMRC’s landmark Making Tax... Read Full Article...

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HMRC offer tax support to growing businesses

HMRC have announced the introduction of a new service to directly help mid-sized businesses as they expand and grow. This is to be known as the Growth Support Service. According to HMRC there are approximately 170,000 mid-sized... Read Full Article...

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