From the 2023/24 tax year onwards, the self assessment (SA) threshold for taxpayers taxed through PAYE only, will rise to £150,000. However, the threshold for the 2022/23 tax year, remains unchanged at £100,000. This means that if a taxpayer is taxed through PAYE only, and their income exceeds £100,000, they will still need to submit…
Tag Archives: PAYE
08
May
May
Where benefits in kind are provided to employees that will usually result an income tax charge on the employee and a Class 1A national insurance (NI) charge on the employer. The rate to be used for 2022/23 is 14.53% because of the withdrawal of the 1.25% Health and Social Care levy part way through the…
24
Apr
Apr
After having several queries regarding benefits and expenses we have decided to post a series of articles in respect of certain aspects of the benefit in kind rules, to help employers plan for the upcoming tax year and refresh their understanding of the benefits in kind system.  We will begin our series of articles with…
23
Jul
Jul
HMRC are consulting on ways to simplify the tax treatment of short-term business visitors from the foreign branch of a UK company, to ensure the UK is an attractive location for business headquarters. The consultation considers potential changes to the PAYE arrangements under which UK employers need not operate PAYE for employees of their overseas…
HM Revenue and Customs have recently won a tax tribunal case where they were seeking to challenge the deduction for a wife’s wages in arriving at the profits of her husband’s business. The judge agreed with HM Revenue and Customs that the amount allowed as a deduction should be limited based on the hours spent…
THE LIVING WAGE The new living wage from April 2016 will be £7.20 per hour for those aged over 25. This is an increase of 7.5% on the current National Minimum Wage rate of £6.70 for over 25’s. It is recommended that you review your current payroll costs to ascertain what impact, if any, the…
THE LIVING WAGE The new living wage from April 2016 will be £7.20 per hour for those aged over 25. This is an increase of 7.5% on the current National Minimum Wage rate of £6.70 for over 25’s. It is recommended that you review your current payroll costs to ascertain what impact, if any, the…
THE LIVING WAGE The new living wage from April 2016 will be £7.20 per hour for those aged over 25. This is an increase of 7.5% on the current National Minimum Wage rate of £6.70 for over 25’s. It is recommended that you review your current payroll costs to ascertain what impact, if any, the…
