Worker Status and Union Recognition – The Deliveroo Judgment
For several years now, the gig economy has dominated both the headlines and the legal sector as court case succeeded court case over the status of those working for such companies as Pimlico Plumbers, CitySprint, Uber and Hermes. Last month, the Court of Appeal delivered its judgment in the latest of these cases, the Independent […]
SEISS – more red tape
Government support to the self-employed through the Self-Employment Income Support Scheme (SEISS) is due to end on 30 September 2021. A fifth and final grant covering the period May 2021 to September 2021 will be opened to claims from late July for those who have suffered a significant reduction in trading profits. To qualify for […]
Tax-free gains on gifts to spouse or charity
In most cases, there is no Capital Gains Tax (CGT) to be paid on the transfer of assets to a spouse or civil partner. There is, however, still a disposal that has taken place for CGT purposes effectively at no gain or loss on the date of the transfer. When the asset ultimately comes to […]
Who pays Inheritance Tax?
Inheritance Tax (IHT) is commonly collected on a person’s estate when they die but can also be payable during a person’s lifetime on certain trusts and gifts. The rate of IHT currently payable is 40% on death and 20% on lifetime gifts. IHT is payable at a reduced rate on some assets if 10% or […]
Turnover defined for 5th SEISS grant
HMRC has published new guidance to help the self-employed calculate their turnover for making a claim under the 5th Self-Employment Income Support Scheme (SEISS) grant. The final date for making a claim for the 5th grant will be 30 September 2021. The figures will be used to compare turnover in the pandemic year from April […]
Who counts as CIS contractor or sub-contractor?
The Construction Industry Scheme (CIS) is a set of special rules that affect tax and National Insurance for those working in the construction industry. Businesses in the construction industry are known as 'contractors' and 'subcontractors' and will need to be aware of the tax implications of the scheme. Under the CIS, contractors are required to deduct […]
Continuous employment defined
When a new employee is added to the payroll it is the employers' responsibility to ensure they meet the employees’ rights. One of the issues that must be considered is the employees’ length of continuous employment. Continuous employment is calculated from the first day of work without a break. The length of continuous employment gives […]
Tax Diary August/September 2021
1 August 2021 – Due date for Corporation Tax due for the year ended 31 October 2020. 19 August 2021 – PAYE and NIC deductions due for month ended 5 August 2021. (If you pay your tax electronically the due date is 22 August 2021) 19 August 2021 – Filing deadline for the CIS300 monthly […]
National Auction Analysis
Overall N.B. Figures in brackets denote the comparative period last year June 2021 April 2021 to June 2021 July 2020 to June 2021 Lots Offered 2,162 (1,418) ▲ 52.5% 6,391 (3,860) ▲ 65.6% 25,017 (24,759) ▲ 1.0% Lots Sold 1,696 (1,146) ▲ 48.0% 5,062 (2,938) ▲ 72.3% 19,790 (18,673) ▲ 6.0% Percent Sold 78.4% […]
National Minimum Wage reminder for summer staff
We would like to remind any students and seasonal staff that work part time, for example in a summer job, to ensure they are being paid the National Minimum Wage (NMW). All workers are legally entitled to be paid the NMW. This includes temporary seasonal staff, who often work short-term contracts in bars, hotels, shops […]
