With the summer holidays approaching, HM Revenue & Customs (HMRC) are reminding working families that Tax-Free Childcare top-ups can be used to help pay for childcare costs, such as accredited holiday clubs, childminders, or sport activities.
Small charities with employees are often unaware that they are eligible for the Employment Allowance. This enables them to reduce their annual National Insurance liability by up to £4,000, so long as their total NI liabilities were less than £100,000 in the previous tax year. Unincorporated charities and Community Action Sports Clubs are also eligible.
New company car advisory fuel rates have been published and took effect from 1 June 2021.
The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2021, are due for submission to HMRC by 6 July 2021. The process of gathering the necessary information and completing the forms can take some time, so it is important that this process is not left to the last minute.
The temporary Trade Credit Reinsurance (TCR) scheme that helped struggling supply chain firms secure insurance protection during the pandemic will close at the end of June, it has been confirmed.
The Treasury has launched a review into the effectiveness of the Office of Tax Simplification (OTS), the independent body responsible for helping to make the UK tax system simpler and easier to interact with for taxpayers.
The UK government has confirmed that its plastic packaging tax (PPT) will come into force on 1 April 2022.
Freeport operators will be able to take advantage of a zero rate of secondary national insurance contributions (NICs) for employees, the government has announced.