The Employment Allowance has risen from £4,000 to £5,000 – meaning smaller firms will be able to claim up to £5,000 off their employer National Insurance Contributions (NICs) bills. Announced by the Chancellor at last month’s Spring Statement to reduce employment costs, the change takes an extra 50,000 firms out of paying NICs and the…
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Using your private vehicle for business journeys
Employers can pay employees a fixed rate per mile to cover the costs of using their own vehicles on company business. The present agreed rates per mile are: Cars and vans - 45p per mile for the first 10,000 miles and then 25p per mile. Motorcycles – 24p per mile. Bikes – 20p per mile.…
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New internet laws return to Parliament
Parliamentarians will debate the government’s ground-breaking Online Safety Bill which requires social media platforms, search engines and other apps and websites allowing people to post content to improve the way they protect their users. Ofcom, the regulator, will have the power to fine companies failing to comply with the laws up to ten per cent…
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Tax Diary May/June 2022
1 May 2022 - Due date for corporation tax due for the year ended 30 July 2021. 19 May 2022 - PAYE and NIC deductions due for month ended 5 May 2022. (If you pay your tax electronically the due date is 22 May 2022). 19 May 2022 - Filing deadline for the CIS300 monthly…
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