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Employing students in the summer break
June 5th, 2019

If you employ students to manage your staff needs over the summer break period, you will need to add them to your payroll and apply PAYE and NIC rules. Students should be advised that they will pay tax and NIC if: they earn more than £1,042 a month on average, and pay NIC if they […]

Tax free perk before annual leave
June 5th, 2019

It is possible to make small tax-free payments to employees, including directors, and this might be an appropriate time to make a small tax-free bonus in advance of the annual holidays. Employers and employees don’t have to pay tax on such a benefit if all of the following apply: it cost you £50 or less […]

Holiday entitlements
June 5th, 2019

As we are approaching the annual holiday season it would seem to be a suitable time to set out employees’ rights to receive holiday pay. Almost all workers are legally entitled to 5.6 weeks’ paid holiday per year (known as statutory leave entitlement or annual leave). An employer can include bank holidays as part of […]

Do you own a holiday let property?
June 5th, 2019

There are a number of tax incentives that you can take advantage of if you own and let a Furnished Holiday Lets property (FHL). They include: you can claim Capital Gains Tax reliefs for traders (Business Asset Rollover Relief, Entrepreneurs’ Relief, relief for gifts of business assets and relief for loans to traders), you are […]

Mileage rates and tax relief
June 4th, 2019

If your employer asks you to use your own car or van to undertake a journey on their behalf, you may be entitled to a payment from your employer to cover your petrol and wear and tear costs. Let’s say that your employer pays you 35p per mile. You may feel that this is an […]

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