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Latest guidance for employers
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HMRC has published the latest issue of the Employer Bulletin. The April issue has information on various topics, including: Reminder of key dates and processes for reporting benefits in kind (BiKs). Real Time Information submission problems – Incorrect handling of Payroll ID. Removal of the tax relief for non-reimbursed homeworking expenses. The official rate of… Read more…
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Higher energy prices could leave typical British households £480 worse off this year
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Higher energy prices due to the conflict in the Middle East are set to make the median working-age British household £480 worse off this year, according to the Resolution Foundation. The think tank based its estimates on market-forecasts for the rise in energy prices consistent with market pricing after the announcement of a ceasefire. For… Read more…
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Pensioners urged to be alert to Winter Fuel Payment scams
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HMRC is warning pensioners to be on high alert for scams as the recovery of Winter Fuel Payments begins this month. Almost two million people are expected to repay their winter 2025 payment due to their annual income being more than £35,000. HMRC saw more than 25,000 Winter Fuel Payment scam referrals over the last… Read more…
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New procurement rules offer SMEs hope
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The government’s new procurement rules that target opportunities for smaller businesses offer hope to SMEs, according to the British Chambers of Commerce (BCC). Government departments have, for the first time, set individual spending targets for SMEs to deliver over £7.4 billion a year to small businesses by 2028. Departments have for the first time, individually… Read more…
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Government unveils crackdown on late payments
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Small businesses to be backed by new, stronger measures to tackle late payments, the government has announced. The Small Business Commissioner will be given sweeping new powers to investigate poor payment practices, adjudicate payment disputes, and fine the worst offenders – with fines worth tens of millions for firms that persistently pay late or fail… Read more…
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UK businesses should apply now for Vaping Products Duty
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Vaping-related businesses and supply chains need to register now for Vaping Products Duty (VPD) and the Vaping Duty Stamps (VDS) Scheme, says HMRC. Businesses need to provide the required information now to register for HMRC approval and begin the process of applying for duty stamps. From 1 October 2026, this information will be used to… Read more…
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UK government to review mileage rates
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The government has confirmed it will review approved mileage rates for business users ahead of a future Budget. The announcement comes after more than a decade without change – despite rising fuel, insurance and maintenance costs leaving many workers covering the gap themselves. Rachel Reeves, the Chancellor of the Exchequer, highlighted the issue earlier this… Read more…
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Countdown to taxation of benefits-in-kind via the payroll underway
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There is less than a year to go before all employers must tax benefits-in-kind via the payroll, the Chartered Institute of Taxation has warned. Benefits-in-kind are non-cash benefits provided by employers to employees or directors. Common benefits include company cars, private medical insurance and gym membership. While the benefit is paid for by the employer… Read more…
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