tax free Archives - WRLO Accountants

July 2021

WRLO Accountants — Tue, 06 Jul 2021 16:00:58 +0000

In this month’s Enews we consider the winding down of the furlough scheme, the apprenticeship cash boost, changes to property taxes and HMRC’s investigations into COVID support schemes. With the introduction of the one stop shop for VAT on EU trade, an update on Tax-Free Childcare, tax credits renewals and claiming tax relief for working from home, there is a lot to update you on. Furlough scheme starts to wind down Apprenticeship cash boost Property tax changes HMRC launches 13,000 investigations into COVID-19 support schemes Schemes create one stop shop for VAT on EU trade Over 280,000 families now using Tax-Free Childcare 440,000 tax credit claimants still to renew their claims 800,000 claim tax relief for working from home Furlough scheme starts to wind down The government’s Coronavirus Job Retention Scheme (CJRS) begins winding down from 1 July. The latest data from the Institute for Fiscal Studies (IFS) shows that at the end of April 3.4 million jobs were still on furlough so the change to the furlough scheme will affect thousands of employers across the country. Since last March, the government has paid 80% of the salaries of employees (up to a maximum government contribution of £2,500 per month) […]

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December 2019 news

WRLO Accountants — Wed, 04 Dec 2019 21:17:44 +0000

In this month’s Enews we consider tax free gifts for employees, updated advisory fuel rates for company cars and tips on avoiding Self Assessment scams. We also report on the updated Check Employment Status for Tax tool and temporary pensions arrangements for some NHS staff. With guidance on cryptoassets, the latest HMRC Employer Bulletin and R&D statistics there is lots to update you on. Making sure gifts to employees are tax-free Advisory fuel rates for company cars HMRC offers tips on avoiding Self Assessment tax scams Check employment status for tax tool update Temporary pensions tax arrangement for NHS staff HMRC issues guidance on cryptoassets Latest guidance for employers Research and Development spend Making sure gifts to employees are tax-free Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee. A tax exemption is available which should help employers ensure that the benefits provided are exempt and do not result in a reportable employee benefit in kind. In order for the benefit to be exempt it must satisfy the following conditions: the cost of providing the benefit does not exceed £50 per employee […]

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