News
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Our top tips for hiring your first employee
There has been a surge in new company formations in the last few years, as entrepreneurs develop new and exciting business ideas and bring them to market. On top of this, there are a growing number of workers with ‘side hustles’, who are quickly scaling up their operations to deal with demand from their customers… Read more
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Working from home tax relief continues, but fewer employees likely to be eligible this year
HM Revenue & Customs (HMRC) has retained its online portal for claiming working from home tax relief for the 2022/23 tax year. But, while the rules and value of the relief remain unchanged, unless there are any further lockdowns this year far fewer people are likely to be able to claim. That is because only… Read more
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Could Government-backed business loans become permanent?
Throughout the pandemic and into the current recovery period, the Government has offered a number of loans to help businesses survive and invest for their future. However, only the Recovery Loan Scheme remains open, and this is due to end on 30 June, with no replacement taking its place. Despite the popularity and value of… Read more
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Make sure you are making the correct PAYE payments to HMRC
HM Revenue & Customs (HMRC) is issuing fresh warnings to employers to ensure their payment reference numbers are correct so that payments are recognised. Each payment reference number relates to a specific employer and covers a particular accounting period. HMRC uses these reference numbers to allocate payments and to help process taxes related to PAYE… Read more
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HMRC to launch new mandatory P87 expenses form
HM Revenue & Customs (HMRC) is to launch a new mandatory P87 form from 7 May to create a consistent standard for the P87s it receives. What is a P87 form? Workers and their agents can use a P87 form to claim tax relief on work expenses. The form can only be used to claim… Read more
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R&D Tax Credits – What is changing next year
Several important changes are happening to research and development (R&D) tax reliefs in April 2023, which could affect what income qualifies for R&D tax relief that businesses need to account for in their plans. These new measures are still being considered by Parliament, but details of the upcoming amendments to the R&D tax relief system… Read more