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PAYE changes on the way, reminds HMRC
HM Revenue and Customs (HMRC) has issued a reminder to large employers about the important Pay as You Earn (PAYE) changes which are coming into effect from next spring. From 6 April 2009, employers with 50 or more employees must submit the following in-year PAYE information online: Form P45(1) - details of employee leaving.Form P45(3) - new employee details.Form P46 - employee without a form P45; and similar ...
News | 3 Dec 2008
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Facefacts: The real cost of social networking to your business
...oyers, EOC 2005 The Government's "Mini Queens Speech" in July announced more legislation that will directly impact on wages bills. The National Insurance Contributions Bill introduced a sharp increase in the upper earnings limit for NICs, to bring it into line with the upper earnings threshold for PAYE. A survey by the FPB found 91% of firms wanted a reduction in employers' NICs -- they were seen as a direct tax on employment. And last, but certainly not least, is the Pensions Act 2007, which passed into law in July 2007, and will introduce by 2012 a new right for all employees to be automaticall...
Magazine issue | 16 Oct 2007
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Contractors warned about tax year CIS change
The Forum of Private Business is reminding firms in the construction industry that their current tax system changes on 6 April this year. The Construction Industry Scheme (CIS) was set to change in 2006 but an extra 12 months was granted by the Government to allow firms to adapt. The FPB is warning that some sub-contractors could be hit by a higher rate of tax unless they register with Her Majesty’s Revenue ...
News | 8 Feb 2007
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Is the tax status of contractors under new attack?
...ere was a concern that insufficient tax and NICs were being collected from this group, and a feeling that IR35 was not working because of enforcement problems. In addition organisations like the Tax Faculty have identified the unfairness of a system which assesses (and potentially criminalises) tax payers on the basis of employment tests which are subjective and unpredictable. The Chancellor's 2006 Budget announcement then suggested a review of the operations of providers of composite companies. How has IR35 worked to date (to the extent that it has worked)? IR35 is a tax measure which renders...
News | 20 Jul 2006
