Tips

Employment Allowance (EA) is a valuable relief available to eligible employers in the UK, allowing them to reduce their annual National Insurance (NI) liability by up to £5,000. This initiative helps businesses manage employment costs and encourages job creation. Understanding whether you qualify and how to claim this allowance can lead to significant savings for your business.

If you're self-employed, you might have considered bringing in a family member, like your university-aged child, to help out in the business. It’s a great way for them to earn extra cash and gain experience, but when it comes to tax deductions, things can get a little tricky. Paying wages to a family member has to be done properly to stay compliant with HMRC rules.

Bringing paydays forward during the festive season is a common practice for many employers, but it comes with important Real Time Information (RTI) reporting obligations. This article examines the implications of early paydays and the correct handling of payment dates.

In this post we consider how company directors can be held personally liable for penalties imposed on the company, particularly through a Personal Liability Notice (PLN), in cases of fraud or serious negligence. We highlight situations where HMRC can issue a PLN, making directors or officers responsible for penalties related to VAT fraud, especially when the company becomes insolvent. Understanding these risks is crucial for directors to avoid personal financial liability.