Tax Diary June/July 2019
1 June 2019 – Due date for Corporation Tax due for the year ended 31 August 2018. 19 June 2019 – PAYE and NIC deductions due for month ended 5 June 2019. (If you pay your tax electronically the due date is 22 June 2019) 19 June 2019 – Filing deadline for the CIS300 monthly […]
Employing students in the summer break
If you employ students to manage your staff needs over the summer break period, you will need to add them to your payroll and apply PAYE and NIC rules. Students should be advised that they will pay tax and NIC if: they earn more than £1,042 a month on average, and pay NIC if they […]
Tax-free perk before annual leave
It is possible to make small tax-free payments to employees, including directors, and this might be an appropriate time to make a small tax-free bonus in advance of the annual holidays. Employers and employees don’t have to pay tax on such a benefit if all of the following apply: it cost you £50 or less […]
Holiday entitlements
As we are approaching the annual holiday season it would seem to be a suitable time to set out employees’ rights to receive holiday pay. Almost all workers are legally entitled to 5.6 weeks’ paid holiday per year (known as statutory leave entitlement or annual leave). An employer can include bank holidays as part of […]
Do you own a holiday let property?
There are a number of tax incentives that you can take advantage of if you own and let a Furnished Holiday Lets property (FHL). They include: you can claim Capital Gains Tax reliefs for traders (Business Asset Rollover Relief, Entrepreneurs’ Relief, relief for gifts of business assets and relief for loans to traders), you are […]
