Employee Archives | Taxfile https://www.taxfile.co.uk/category/employee/ Tax advice & accounting services for South London businesses & SMEs Sun, 31 Oct 2021 21:01:31 +0000 en-GB hourly 1 Furlough Scheme Extended until End of September https://www.taxfile.co.uk/2021/03/furlough-scheme-extended-till-end-of-september/ Wed, 03 Mar 2021 13:43:12 +0000 https://www.taxfile.co.uk/?p=5513 In The Chancellor’s 2021 budget speech it was announced that the furlough scheme would be extended until the end of September 2021, to protect the jobs and livelihoods of the UK population during the pandemic. The Government will pay employees 80% of the hours not worked through to the end of June 2021.  As the […]

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]]> RTI (Real Time Information) – last Full Payment Submission (FPS) due soon https://www.taxfile.co.uk/2014/03/rti-real-time-information-fps/ Thu, 06 Mar 2014 17:33:11 +0000 http://www.taxfile.co.uk/blog/?p=670 Exactly eleven months ago at time of writing, HMRC launched ‘RTI’ (Real Time Information) in the UK. This is the mechanism through which employees now have to report PAYE information for employees on the day it actually happens, or alternatively before that day, for example to confirm to HMRC each time an employee is paid […]

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]]> It’s official: thousands are on the wrong tax code! https://www.taxfile.co.uk/2014/01/thousands-on-wrong-tax-code/ Thu, 30 Jan 2014 14:10:19 +0000 http://www.taxfile.co.uk/blog/?p=642 With the tax return deadline being only hours away (midnight 31 January 2014) there is still time to get professional help if you need it – particularly because HMRC  often get it wrong according to new research by UHY Hacker Young. In just one example, HMRC sent a tax bill to a pensioner which demanded […]

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]]> ‘Employment Allowance’ to save businesses up to £2k in NIC https://www.taxfile.co.uk/2014/01/employment-allowance-to-save-nic-costs/ Mon, 27 Jan 2014 10:26:39 +0000 http://www.taxfile.co.uk/blog/?p=634 In April 2014 the new ‘Employment Allowance’ will be introduced. This will cut up to £2k off the National Insurance costs incurred by businesses and save employers nearly £5.5 billion across the UK as a whole by the end of the Parliament. This equates to £200 per UK employee. These savings will also be helped […]

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]]> Autumn Statement by the Chancellor of the Exchequer https://www.taxfile.co.uk/2013/12/chancellors-autumn-statement/ Mon, 09 Dec 2013 18:27:37 +0000 http://www.taxfile.co.uk/blog/?p=600 On 5 December 2013 George Osborne, Chancellor of the Exchequer, gave his Autumn Statement in Parliament. Key announcements included: A rise for the Personal Allowance, as was long-anticipated, to £10,000 in 2014/15; the higher 40% tax rate threshold also increasing to £41,865; A new, transferable, tax allowance of £1,000 for married couples and those in […]

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]]> Changes to Minimum Wage from 1st October https://www.taxfile.co.uk/2009/10/changes-to-minimum-wage-from-october-the-1st/ Sat, 10 Oct 2009 10:57:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/?p=44 As explained in a previous blog post, Minimum Wage is defined as the lowest wage payable to most employees as fixed by law or union agreement. As from 01/10/09 new rates came in place: •£5.80 – as the main rate for workers aged 22 and over; •£4.83 – the 18-21 rate; •£3.57 – the 16-17 […]

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]]> Employed or Self Employed? https://www.taxfile.co.uk/2009/06/employed-or-self-employed/ Sun, 14 Jun 2009 09:32:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/?p=35 If you work for someone else, it is important to know whether you are working for that person as employed or self-employed as an independent contractor. If you are the one having to employ somebody, it is your responsibility to correctly determine the employment status of that person. A worker’s employment status will determine the […]

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]]> Taxfile: Scholarship Income https://www.taxfile.co.uk/2009/02/taxfile-scholarship-income/ Sat, 28 Feb 2009 14:46:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/?p=24 By scholarship we mean an exhibition, bursary or any other similar educational endowment. If the holder of the scholarship is receiving full-time education at a university, college or school then the income from the scholarship is exempt from tax. The rate of payment including lodging, subsistence and travelling allowances is now £15,480 a year, £1,290 […]

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]]> Statutory Maternity Pay (SMP) https://www.taxfile.co.uk/2008/11/statutory-maternity-pay-smp/ Sat, 22 Nov 2008 10:54:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/?p=19 If you are expecting a baby, you might be entitled to Statutory Maternity Pay (SMP)to help you take time before and after the baby is born. This is a weekly payment from your employer. Payments of SMP count as earnings so your employer will deduct tax and National Insurance contribution in the normal way. In […]

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]]> National Minimum Wage https://www.taxfile.co.uk/2008/10/national-minimum-wage/ Sat, 04 Oct 2008 09:51:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/?p=15 Minimum Wage is defined as the lowest wage payable to most employees as fixed by law or union agreement. There are three different rates of Minimum Wage: •Adults’ rate for workers aged 22 and over •Development rate for those aged between 18 and 21 •Young people’s rate for those older than school leaving age and […]

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