The rules on using Personal Service Companies (PSCs) in the public sector are set to undergo a radical overhaul in 2017. The responsibility for deciding whether the intermediaries legislation applies will move from the person working through their own company to the public sector organisation. The Treasury has increasingly viewed PSCs as a tax avoidance… Read more…

Significant changes to Employment Allowance that were first announced by the Chancellor in his 2015 Budget came into effect at the start of the new financial year on 6 April. While the maximum reduction to employers’ Class 1 National Insurance Contributions has increased from £2,000 a year to £3,000 a year, directors who are the… Read more…

The Chancellor announced new rules on Entrepreneurs’ Relief in this year’s Budget, lessening some of the challenging restrictions he introduced last year. However, this year’s changes look set to lead to problems of their own. Entrepreneurs’ Relief was firmly in the Chancellor’s sights last year as he faced political pressure to take action on tax… Read more…

A new report has found that UK freelancers, sole traders and micro-businesses could potentially be failing to claim millions of pounds worth of tax relief from unclaimed expenses they deem too small or time-consuming. Research conducted by FreeAgent, a cloud accounting software provider, has revealed that around a quarter of a billion pounds worth of expenses… Read more…

The latest figures from the Office for National Statistics (ONS) has shown that labour productivity – measured as output per hour – fell by 1.2 per cent in the final quarter of 2015. During the same quarter both worker and job output remained unchanged however, across all measures, productivity was half a per cent higher… Read more…

The Administrative Burdens Advisory Board (ABAB) has said it has serious concerns about the government’s proposals to introduce quarterly reporting, similar to tax returns, for businesses. The body, which provides independent oversight of HM Revenue & Customs (HMRC) policies, said the quarterly updates will add an extra burden to businesses due to increased record keeping… Read more…

A number of recent court judgments need to be considered when calculating holiday pay and the rules employers and workers must follow to calculate holiday pay may need to be updated. Below are some of the points your business may need to be aware of when calculating holiday pay: Guaranteed overtime Following a judgement in… Read more…

A new report published by insurance and pension provider Standard Life has revealed the key drivers of success for UK SMEs over the next five years. Having polled both SME leaders and employees, the report highlights the fundamental trends of collaboration, empowerment and adaptability as central to growth. SME leaders said the number one priority… Read more…

It has been estimated that more than 1.7 million self-employed workers now earn below the new National Living Wage. According to the Social Market Foundation’s (SMF) research this number will eventually rise to 1.9 million by 2020, affecting the 14 per cent of the UK workforce who are self-employed. The SMF’s annual Family Resources Survey… Read more…

The Chancellor used his latest Budget announcement to deliver a raft of changes to the personal tax regime. George Osborne said that his latest Budget would be a statement for the next generation and he delivered on this promise by introducing a new Lifetime ISA. The announcement of a Lifetime ISA could prove a boon… Read more…