From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:
July 2008
Advisory Fuel Rates
To reflect the increases in fuel prices, HMRC have issued new
advisory fuel rates for employees driving employer provided cars.
These take effect for all journeys undertaken from 1 July 2008
so employers wishing to use the new rates should advise affected
employees and update any expense forms as soon as possible.
 More
HMRC Warning on Scams
HMRC have updated their guidance on scams. HMRC have become
aware of a new ruse to persuade unsuspecting taxpayers to complete
a form detailing their bank or credit card details. The form
implies that a tax refund may be due and that this will be paid
straight into their bank account.
More
Illegal Working
According to a new survey conducted by Norwich Union Healthcare,
77% of employers believe alcohol is the main threat to employee
wellbeing and a big contributor to employee absence.
More
Employees’ Mileage Payments
As you may be aware there is a statutory system of tax and NIC
free mileage rates for business journeys in an employee’s
own vehicle. These mileage payments are known as ‘Authorised
Mileage Allowance Payments’ (AMAP).
More
Tax Freedom Day
This year ‘Tax Freedom Day’ fell on June 2. The
statistics make interesting reading in that the average UK taxpayer
spends more than five months of the year working for the government
as opposed to working for themselves.
More
National Minimum Wage and Tips
An Employment Appeal Tribunal has ruled in HMRC’s favour
in the case of Annabel’s Restaurant and Nightclub. The
case concerned the payment of tips through a ‘tronc’,
which is an arrangement which sometimes operates in the restaurant
industry. The ‘tronc’ which operates as a separate
independent payroll, run by a ‘troncmaster’ is used
by some restaurants as a means of distributing tips or service
charges paid by customers. HMRC have argued successfully that
where the tips are paid in this way they do not count towards
national minimum wage (NMW) entitlement.
More
Surfing at Work
According to the CBI the average UK office worker spends 95
minutes of their working week surfing the web for personal use.
This they estimate costs the economy £10.6 billion a year.
More
Tax Credits Renewal
Tax credits are state benefits which are generally available
to lower income families. However, entitlement to the credits
is significantly increased where individuals pay for childcare
or have a dip in normal levels of income perhaps due to incurring
trading losses.
More
Increase in Personal Allowances
Tucked away in a recent issue of ‘Notes for payroll software
developers’ is a bit more information on the timescale
for the increase in the current year’s personal allowance
from £5,435 to £6,035 and the reduction in the higher
rate point from £36,000 to £34,800. These changes
mean that basic rate taxpayers will benefit by £120 per
tax year whilst the position of higher rate taxpayers will be
unchanged.
More |
