News
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Settling energy disputes
- 16th April 2024
- Posted by: admin
- Category: News
No CommentsBusiness owners that are in dispute with their energy suppliers will be interested in the free support on offer from the Energy Ombudsman. In a recent press release the Department for Energy Security and Net Zero confirmed the following: “Businesses will get free support to resolve issues with their energy contracts, as part of government
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Acas Code of Practice and guidance on flexible working
- 15th April 2024
- Posted by: admin
- Category: News
Acas has published its new statutory Code of Practice on requests for flexible working alongside accompanying non-statutory guidance. The Code of Practice and guidance both reflect the changes to the statutory right to request flexible working that took effect from 6 April 2024. The Acas Code of Practice on requests for flexible working covers: making
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Consultation on national minimum wage rates
- 11th April 2024
- Posted by: admin
- Category: News
The Low Pay Commission (LPC) is seeking evidence on the effects of the national living wage (NLW) and national minimum wage (NMW), to inform its autumn 2024 recommendations to the government on the NLW/NMW rates for April 2025 and beyond. This year, the LPC is particularly interested in evidence on the following: the affordability and
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Paying VAT on goods from EU to Northern Ireland
- 11th April 2024
- Posted by: admin
- Category: News
There are special procedures for moving goods in and out of Northern Ireland. Under the Northern Ireland Protocol, all Northern Ireland businesses continue to have access to the whole UK market. There is specific guidance published by HMRC that should be followed for goods that are received into Northern Ireland from a supplier in the
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What do we mean by profit?
- 9th April 2024
- Posted by: admin
- Category: News
When most business owners refer to business profits, they are likely to mean the difference between sales and costs, and more concisely, that sales exceed costs. However, the word “profits” can prove to be a moveable feast as HMRC, banks and traders will likely have a different interpretation. For example, do costs include: intangible overheads
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Measures to support household budgets from 1 April
- 5th April 2024
- Posted by: admin
- Category: News
In a recent press release the government confirmed the following policies to support household incomes from 1 April 2024. The National Living Wage has officially risen from £10.42 an hour to £11.44. This marks a £1,800 annual boost to full-time workers’ pay packets. This means nobody over 21 will earn less than two-thirds of the
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Tax-free mileage expenses
- 4th April 2024
- Posted by: admin
- Category: News
If you use your own vehicle for business journeys you may be able to claim a tax-free allowance from your employer known as a Mileage Allowance Payment or MAP. The allowance is paid when employees use their own car, van, motorcycle or bike for work purposes. It is important to note that this tax-free allowance is
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Uprated Vento bands published
- 2nd April 2024
- Posted by: admin
- Category: News
The President of the Employment Tribunals (England and Wales) and the President of the Employment Tribunals (Scotland) have issued updated joint Presidential Guidance in relation to the “Vento bands” for compensation for injury to feelings and psychiatric injury in discrimination claims brought under the Equality Act 2010. The Vento bands are being uprated to take
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Travel and subsistence benefits
- 27th March 2024
- Posted by: admin
- Category: News
There is no requirement to report certain routine expenses to HMRC. The travel and subsistence benefits that do not need to be reported include reimbursed costs to employees covering business travel. Subsistence includes meals and any other necessary costs of travelling, for example parking charges, tolls, congestion charges or business phone calls. As an alternative
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Keeping VAT records
- 21st March 2024
- Posted by: admin
- Category: News
HMRC’s VAT Notice 700/21: keeping VAT records has recently been updated. The reason for any zero rate or exemption has been removed from the list of details you must include on a VAT invoice. The notice provides VAT registered businesses with useful guidance on the records they must keep as well as providing advice on