Month: May 2022

2 minutes to read Employment status and employment rights are knotty issues.  The employment status and associated rights of the workforce of Pimlico Plumbers Ltd have been battled out at the highest judicial levels for years. There is now another verdict. What is the takeaway message if you run a business with a labour force that doesn’t fit the …

Continue reading "Holiday pay on tap: what you need to know about the Pimlico Plumbers"

3 minutes to read   At the March 2022 Spring Statement it was announced that there is an increase to the Employment Allowance from £4,000 to £5,000 as of 6 April 2022. It is estimated that around 495,000 businesses will benefit from this increase being almost a third of all UK firms. Tax cut of £1,000   An increase …

Continue reading "£1,000 Employment Allowance boost to SMEs"

< 1 minute to read It’s now a year since major change to the off-payroll working (OPW) rules. The OPW regime requires a decision on employment status to be made for tax purposes, broadly analogous to the decision required by the IR35 regime for those working through an intermediary, typically a personal service company. The government’s aim is that those …

Continue reading "IR35 and off-payroll: 2022 matters "

4 minutes to read Just over five years ago saw the introduction of the Spring Statements with the narrative that ‘The Chancellor will not make significant tax or spending announcements at the Spring Statement, unless the economic circumstances require it.’ Given the current economic circumstances it is therefore not surprising that the 2022 Spring Statement included some significant announcements. …

Continue reading "Spring Statement Update"

3 minutes to read If you sell or dispose of a property and make a profit on the sale, a “capital gain” will arise and you may have to pay Capital Gains Tax (CGT). The capital gain is calculated after taking the proceeds of sale and deducting the costs of acquisition and any enhancements costs, as well as incidental …

Continue reading "Thinking of Selling a Property? What you need to know – Capital Gains Tax!"