Equality Watchdog Issues New Guidance on Lawful Advertising
Britain’s Equality and Human Rights Commission (EHRC) has released updated guidance for those placing or publishing advertisements to help ensure they are lawful and non-discriminatory. A discriminatory advert is one that restricts jobs, goods, services, or facilities to individuals with a protected characteristic as defined by the Equality Act 2010. Such restrictions are unlawful, except […]
ECHR Consults on Sexual Harassment Guidance
The Equality and Human Rights Commission (EHRC) has launched a consultation on proposed changes to its guidance on preventing workplace sexual harassment. The proposed amendments introduce a new section of guidance addressing the legal changes under the Worker Protection (Amendment of Equality Act 2010) Act 2023, which takes effect on 26 October 2024. The Act […]
UK Firms Failing to Meet Anti-Money Laundering Standards
A HM Treasury report on anti-money laundering (AML) and counter-terrorist financing (CTF) has revealed that 18% of assessed financial services firms and over a third of accountancy firms were non-compliant with the regulations. The Financial Conduct Authority (FCA), which supervises approximately 18,000 financial services firms in the UK for AML/CTF compliance, found that 4% of […]
Majority of Brits Support Gen AI in Marketing
Almost two-thirds (64%) of UK consumers believe personalised recommendations are important, with nearly a third (30%) considering them one of the top ways brands can enhance their overall digital experience. However, greater personalisation should not compromise privacy and data governance, as 92% of respondents emphasise the need for brands to use their data responsibly. This […]
Government Responds to Graduate Route Rapid Review
The Home Office has issued a statement responding to the MAC’s rapid review into the UK Graduate Route, which recommended retaining the route, citing no evidence of misuse of this visa category. While the statement does not explicitly endorse the Graduate Route, the Home Office confirms that it will remain open, but would be kept under […]
PAYE For Employers: Manage Company Payroll
PAYE (Pay As You Earn) is a system used in the UK to collect income tax and National Insurance contributions (NICs) from employees’ wages. As an employer, understanding PAYE is crucial for managing your payroll and tax obligations. PAYE for employers can quickly become complex. But provided you understand HMRC’s rules and your obligations, you […]
Tax on Reselling & Side Hustles
Most of us have sold something online using the likes of Ebay, Vinted or DePop. But do you know if you have to pay tax on the money you made? UK tax rules on online selling, reselling or trading will depend largely on how active you are as a seller and how much profit you’ve […]
Personal Tax Allowance 2024
Every taxpayer in the UK has a personal tax allowance. Whether you’re an employee checking that you’re being paid correctly, or you’re self-employed and wanting to know how much to set aside for your annual self-assessment tax bill, it’s important to understand how your tax liability is calculated. Your personal tax allowance is a key […]
Emergency Tax Code Guide for Employers
Ensuring that new employees are registered to pay tax forms an important part of an employer’s role in fulfilling their obligations to HMRC. This includes how and when to use emergency tax codes for new starters. In this guide for employers, we explain the emergency tax rules, how they work, how to use them and […]
Marriage Allowance: How to Claim
When assessing your liability to income tax, much will depend on the extent of any personal allowance that you’re entitled to claim for the relevant tax year. If you’re either married or in a civil partnership, your spouse or civil partner may be able to transfer part of their allowance to increase your tax-free threshold, […]
Tax Relief: How to Claim & Reduce Your Tax Bill
Understanding how tax relief works in the UK can help you to minimise the amount of tax payable on any income received as either an employed worker, or when working for yourself on a self-employed basis, helping you to maximise your take-home pay or net profit. While there are broadly similar principles in place when […]
Employers’ National Insurance Rates 2024
Meeting your obligations towards HM Revenue and Customs (HMRC) forms an important part of your duties as an employer in the UK. This includes payment of Employers’ National Insurance alongside your employees’ National Insurance Contributions (NICs). The following guide examines the rules relating to employers’ national insurance contributions, from what these are for and who […]
Employment Allowance: Save on Employer NICs
Running a small business in the UK comes with its own set of tax considerations. One helpful benefit for eligible employers is the Employment Allowance. If you’re liable to pay employers’ Class 1 National Insurance, eligible employers can reduce this liability by up to £5,000 per tax year. Below we look at the Employment Allowance […]
£40000 After Tax in 2024
£40,000 after Income Tax is deducted is £34,514, before National Insurance and any other relevant deductions are made. Combining Income Tax and NICs deductions, you are likely receive around £30,867 after tax on a £40,000 salary. This is however an estimate and can vary depending on your specific tax code and circumstances. In this guide, […]
Capital Gains Allowances & Reliefs 2024
The amount of capital gains tax (CGT) you pay can be reduced by using available capital gains allowances and reliefs. What is chargeable to capital gains tax? Capital gains tax becomes payable when the disposal of certain categories of asset leads to a profit, otherwise known as a ‘gain’. It is this gain […]
Self Assessment Deadline Reminder: 31 January 2024
Anyone required to file a self assessment tax return for the 2022/23 tax year must do so online by 23:59 on 31 January 2024 or risk a fine and 7.75% interest. Late filing & payment penalties Missing the deadline and filing your tax return late will result in a £100 penalty, even if you […]
How to Apply for a UTR Number
Applying for a UTR number forms an essential part of the self assessment process. If you come under the self assessment rules, but fail to register and file a tax return, you risk financial penalties. In this guide, we answer frequently asked questions about UTR numbers, including how to apply for a UTR number to […]
Working From Home Tax Allowance
In the UK, workers can claim a working from home tax allowance as a simplified way to cover expenses if you work for 25 hours or more a month from home. In this guide for employed and self-employed workers, we explain the rules on claiming What is the working from home allowance? If […]
HMRC Self Assessment: Tax Return Guide
Being self-employed carries with it a number of financial responsibilities, including the requirement to report your earnings to HM Revenue and Customs (HMRC) under the self assessment regime. It’s important to meet your obligations as a self employed individual to ensure you are paying the correct amount of tax and to avoid paying a penalty […]
UK Resident Receiving Inheritance From Abroad
If you have inherited money from overseas, you will need to check the tax position and whether there is a UK tax liability on the inheritance. The tax rules on receiving inheritance money from abroad can quickly become complex. In this guide, we look at when liability to UK tax on inheritance from abroad arises, […]