The interaction between student loan repayments and payrolled benefits is an important topic for both employers and employees. With HMRC’s increasing focus on real-time payroll data, understanding how these two elements work together can help businesses stay compliant and ensure accurate deductions. How Student Loan Repayments Work When an employee’s earnings cross a certain...
Why VAT Needs a Fresh Look The UK’s Value Added Tax (VAT) system, first introduced in 1973, has become increasingly complex. With thousands of exceptions and outdated thresholds, businesses often find compliance time-consuming and costly. A VAT reform is long overdue—not just to simplify administration, but also to ensure fairness and efficiency for both small...
Why did HMRC issue penalties? A recent decision by the First-tier Tribunal (FTT) has highlighted the importance of fully understanding your self-assessment (SA) tax return obligations. The case involved a taxpayer who misunderstood the requirement to file a return and faced HMRC penalties as a result. Despite the individual’s claim of confusion, the tribunal ruled...
Copyright by CareAccountancy. All rights reserved.
Copyright by CareAccountancy. All rights reserved.
