Features and articles from ICAEW on PAYE and real-time information (RTI) in the UK tax regime.
ICAEW’s Tax Faculty has published a TAXguide on PAYE rates, thresholds and allowances, and produced a webinar on recent changes in employment taxes and related areas.
Join the 1.2m people a month using HMRC’s app to get tax information, stay up to date with tax payments and more.
Highlights from the broader tax news for the week ending 13 March 2024, including: the publication of legislation providing for the Spring Budget NIC cuts; changes made by secondary legislation across a range of areas, including R&D tax relief, PAYE and CIS; new HMRC guidance on ISAs; and the opportunity to claim a refund for Italian VAT paid on goods and services related to Italian business activities.
Chancellor cuts national insurance again but defers difficult decisions on public spending until after the general election.
In the Spring Budget, the Chancellor announced that the current remittance basis of taxation will be abolished for UK resident non-domiciled individuals from 6 April 2025 and replaced by a new four-year foreign income and gains (FIG) regime.
An extension of full expensing to leases is welcome news for businesses in a Budget that delivers nothing unexpected.
From 6 April 2024, the headline rate of NIC will fall from 10% to 8% for employees, and from 9% to 6% for the self-employed. The government will also consult on how it will abolish Class 2 NIC.
Prior month revisions boost public finances despite worse than expected self assessment receipts, as a think tank says tax cuts in the Budget will be sandwiched between tax rises in the years before and after.
ICAEW’s Tax Faculty explains how to calculate national insurance contributions (NIC) for directors this year including where the alternative method is used.
ICAEW’s Tax Faculty highlights the key tax articles, events and guidance available on icaew.com.