HMRC latest guidance for employers

HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on:

  • Coronavirus Job Retention Scheme and what employers…

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New trade arrangements with the EU from 1 January 2021

HMRC has sent letters to VAT-registered businesses in Great Britain trading with the EU, or the EU and the rest of the world. They explain what businesses need to do to prepare for new processes for…

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Gifts to employees can be tax-free

Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee.

A tax exemption is available…

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LITRG calls for a rise in the High Income Child Benefit Charge threshold

The Low Incomes Tax Reform Group (LITRG) has urged the government to raise the High Income Child Benefit Charge (HICBC) threshold to avoid it affecting basic-rate taxpayers for the first time in …

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Borrowers of Bounce Back loans given six more months for repayments

Businesses that took out government-backed Bounce Back loans to get through the coronavirus (COVID-19) pandemic will now have greater flexibility to repay their loans, the government has announced.

The…

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National Minimum and Living wages increases

UK workers are set to benefit from rises in the National Minimum Wage (NMW) and the National Living Wage (NLW) rates that took effect from 1 April 2021.

The NMW which applies to 21 and 22…

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Trade credit insurance scheme to close

The temporary Trade Credit Reinsurance (TCR) scheme that helped struggling supply chain firms secure insurance protection during the pandemic will close at the end of June, it has been confirmed.

In…

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Property tax changes

From 1 July 2021 there are changes to the Stamp Duty Land Tax (SDLT) and Land Transaction Tax (LTT) bands for residential property.

SDLT is payable by the purchaser in a land transaction…

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Claiming the fifth self-employed Income Support Scheme (SEISS) grant

HMRC has issued guidance on claiming the fifth and final self-employed Income Support Scheme (SEISS) grant.

Unlike previous SEISS grants the amount of the fifth grant available is determined…

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