1 December 2016 - Due date for Corporation Tax due for the year ended 29 February 2016. 19 December 2016 - PAYE and NIC deductions due for month ended 5 December 2016. (If you pay your tax electronically the due date is 22 December 2016.)…
Day: 5 December 2016
Changes to NLW and NMW from April 2017
From April 2017, the National Living Wage (NLW) for the over 25s is being increased to £7.50 per hour. This is an increase from the current NLW rate set in October 2016 of £7.20 an hour. For the over 25s, this will represent a wage…
Are you affected by changes to the VAT Flat Rate Scheme (FRS)
HMRC is to introduce an additional test that will determine the flat rate percentage used by traders. It would seem that HMRC presently considers the benefits obtained by certain businesses to be excessive and not in accord with the intentions of Parliament. Traders that meet…
Salary sacrifice under the microscope
Salary sacrifice is a term applied to benefits taken in place of salary. In many respects these benefits provide employees with higher “take home” value than if the benefits were treated the same as cash income. Mr Hammond is mindful to curb this practice as…