Holiday pay has long been a complex area of employment law, particularly for employers with staff whose earnings fluctuate due to overtime, commission, bonuses, or irregular working patterns.
Salary sacrifice arrangements continue to be a popular way for employers to enhance their benefits offering and support employees in a tax-efficient manner. From pension salary sacrifice to Cycle to Work schemes and electric vehicle arrangements, these benefits can provide meaningful value to employees while also helping employers create more competitive remuneration packages.
Recent guidance from HMRC has confirmed a major shift in how employee benefits will be reported and taxed in the UK. Mandatory payrolling of Benefits in Kind is now set to be introduced in phases from April 2027.
As April 2026 approaches, UK employers are preparing for a series of statutory changes that will directly affect payroll costs and workforce planning.
The Employment Rights Act 2025 represents one of the most significant overhauls of UK employment law in a generation.
Learn about the new Companies House identity verification requirements for UK directors and PSCs under the Economic Crime and Corporate Transparency Act 2023. Find out who needs to act, deadlines, and how to verify.
Today, you gather all benefit information at the end of the tax year and submit P11D forms to HMRC. Your employees then get adjusted tax codes, sometimes months later, which can create surprise tax bills.
Planning a tour? Don’t overlook the tax implications. Learn how to navigate international VAT, U.S. state withholding, and local tax rules to keep your tour on track and compliant.
Our recent seminar, "Beyond Borders VAT: Mastering Cross-Border Tariff Strategies in an Evolving Economic Landscape," delivered crucial insights for businesses navigating today's challenging global trade environment.
Don't miss our latest webinar, "Beyond Borders Vat: Mastering Cross-Border Tariff Strategies in an Evolving Economic Landscape," 15.00 BST (10:00 AM EST) on the 30 April 2025.
UK Audit Requirements Guide: Understanding audit exemptions and thresholds for UK subsidiaries within worldwide groups, including key qualifying conditions under Companies Act 2006 sections 477 and 479, updated requirements effective 6 April 2025, and essential considerations for small companies and group members. Learn more about qualification criteria, member rights, and compliance obligations for your UK business
This insightful article explaining the UK's Foreign Entertainers Unit (FEU), a specialist division of HM Revenue & Customs (HMRC), that oversees tax payments for non-UK performers, artists, entertainers, and sportspersons who perform in the UK.
Social media influencers are disrupting the entertainment industry, but with various income streams come complex tax implications. Learn about the UK tax requirements for influencers and how to avoid financial pitfalls.
Whenever an employer offers benefits to an employee or a director, either for free or at a reduced cost, they're referred to as benefits in kind. His Majesty's Revenue and Customs (HMRC) mandates that employers declare benefits by the end of the tax year through the P11D form.
The UK's tax authority, HMRC, has unveiled a series of proposed changes aimed at improving the quality and scope of data collected from taxpayers. These modifications seek to streamline tax administration, bolster compliance, and provide better insights into the labour market for policymaking purposes.
When it comes to doing your taxes, you're not alone if your organisation forgets one crucial deadline: registering your employment related securities (ERS). Employers use ERS schemes to award or gift shares of a company to their employees. If you've been awarded any such shares or share options during the last tax yea’s (6 April 2023 through to 5 April 2024), you have until 6 July 2024 to submit your ERS return.
As an employer offering taxable benefits to your employees, you are required by HM Revenue and Customs (HMRC) to submit and report these benefits. This is done using the P11D and P11D(b) forms. If you missed the 6 July 2024 deadline you could face fines, penalties, and interest. Your reputation with HMRC as the employer will also be affected.
Don't miss the filing deadline for the Employment Related Securities (ERS) Online Return!
As the Metaverse evolves, distributed ledgers such as blockchain technology, NFTs, and Smart Contracts drive the explosion of trade of goods and services in the Metaverse and drive integration into the real-world economy.
If your company is considering setting up operations in the U.S. or another country, the Prager Metis CFO Advisory Services team can help you avoid common pitfalls and maximize the benefits of international expansion.
Curious about the metaverse? Have questions on what it is? The metaverse is a virtual world parallel to the real, physical world.
As virtual currency transactions rise, so does the enforcement of virtual reporting requirements. When reporting cryptocurrency on your tax return, a good rule of thumb is that you must report it on your tax return if a taxable event occurs.
Not-for-Profit Focus: We believe both preparers and auditors would benefit from more discussion regarding areas where generally accepted accounting principles offer acceptable choices that may not be well understood by current financial management.
The metaverse refers to an immersive virtual world where individuals can socialize, play, work, and trade in virtual (and non-virtual) goods and services. Many questions come to mind as we all begin to navigate this virtual space. Will global tax authorities be able to assert tax authority over transactions occurring in a virtual arena that lacks the type of provincial, state, and national boundaries that provide the framework for real-world tax administration?
The personal allowance is currently £12,500. Budget 2018 announced that the allowance would remain at the same level until 2020/21 and the statutory provision to increase the allowance annually by CPI was to be overridden.
Land and buildings transaction taxes are devolved to Scotland (Land and Buildings Transaction Tax) and Wales (Land Transaction Tax). Stamp Duty Land Tax (SDLT) applies to transactions in England and Nort
The Chancellor Rishi Sunak presented his second Budget on Wednesday 3 March 2021. In his speech he stated his Budget 'meets the moment with a three-part plan to protect the jobs and livelihoods of the British people'.
The current JRS allows an employer to place an employee on furlough and apply for a grant to cover wage costs for the time an employee is on furlough. The employer:
No changes to the current rates of CGT have been announced at Budget 2021. This means that the rate remains at 10%, to the extent that any income tax basic rate band is available, and 20% thereafter.
In 2020, the government introduced a number of government-guaranteed coronavirus loan schemes. In December 2020 the Chancellor extended, until the end of March 2021, access to the Bounce Back Loan Scheme,
UK Governement Pages: General Click Here. Support for businesses Click Here.
India has recently cut its corporate tax rates in a bid to revive its stagnant economy. The move has widely been seen as a positive and much needed one and sees the rates cut as follows: Companies that don’t seek exemptions will see their tax rate cut from 30% to 22% before surcharge and cess.
For UK citizens selling a property in the USA, completing the sale is only your first hurdle. Your next challenge is tax - both in the UK and the USA - neither set of rules being straightforward. Taking UK tax first, if you are resident and domiciled in the UK, you will have capital gains tax (CGT) to pay on any gain achieved on the sale of US property.
Summarised below is our understanding of the changes and necessary steps which may be required to be undertaken for UK businesses trading within the EU in the event of a No Deal EU Exit. We have principally focused on the impact on Customs and Excise and VAT. Most of the contents are taken from the published documents by UK government and HMRC.
A friend of mine who is of Indian origin, was recently discussing with me how he had found a way to earn an eye-watering 9% interest on cash deposits. He explained that deposits held in an Indian bank account typically earn interest of 7-9% and that he is earning a small fortune on his deposits. Not meaning to bring my friend down to earth, I felt it necessary to make him aware of a few issues.
In this issue we cover five topics; Tax averaging for artists/composers Central Withholding Agreements in USA
This is a general briefing guide to some of the problems that can be encountered when touring the USA, in particular, the US Centralised Withholding Agreement (CWA) arrangement for managers of UK acts who intend to tour the USA. It is a practical guide and not a definitive statement of practice or the law. The practice of the law in respect of visas, taxation and CWA’s is constantly changing depending on all number of circumstances.
