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If you are faced with making employees redundant, the terms that determine the amount payable may be written into your staff contracts of employment. Otherwise, employees will normally be entitled to statutory redundancy pay if they have been working with you for two years or more. Entitlement is usually based on: half a week’s pay…

If you are presently registered for VAT but your turnover has dropped below £83,000 you could deregister for VAT. However, you do not have to deregister. Disadvantages and advantages of deregistration If you buy significant amounts of goods and services that include a VAT charge, then if you deregister you will not be able to…

Your UK residence status affects whether you need to pay tax in the UK on your foreign income. For example, non-residents only pay tax on their UK income - they do not pay UK tax on their foreign income. Whereas UK residents normally pay UK tax on all their income, whether it’s from the UK…

As readers will no doubt be aware the present Coronavirus Job Retention Scheme is due to cease at the end of October 2020. However, there is a bonus claim that certain employers can make next year if they retain employees beyond the present 31 October 2020 deadline. The Job Retention Bonus (JRB) is subject to…