HLAS

Since 6 April 2021 large and medium-sized organisations, based on the Companies Act criteria, have had to determine whether or not a worker supplying his services via their own personal service company would be treated as an employee if directly engaged. This replaced the IR35 rules for these larger organisations. HMRC suggest organisations use their Check Employment Status for Tax (CEST) tool on their website to check the worker’s status, although that is not obligatory. The tool is an interactive database of questions and will normally provide a ruling after 15 to 20 questions depending on the answers given about [...]

Duty suspensions are designed to help UK and Crown Dependency businesses remain competitive in the global marketplace. They do this by suspending import duties on certain goods, normally those used in domestic production. These suspensions do not apply to other duties that may be chargeable like VAT or the anti-dumping duty. Duty suspensions allow unlimited quantities to be imported into the UK at a reduced tariff rate. Autonomous Tariff Quotas (ATQs) allow limited quantities to be imported at a reduced rate. Duty suspensions and ATQs are temporary and can be used by any UK business while in force. They are [...]

The Department for Digital, Culture, Media & Sport has provided a resource to help event organisers to reduce the risk of COVID-19 transmission in event settings. This resource sets out examples of the types of risk mitigation measures event organisers can put in place to reduce the risk of COVID-19 transmission at events. This should be used in conjunction with the events and attractions guidance, which explains the types of events which may need to take additional measures and how these measures can help to reduce risk. It also includes more detail on how you can put these measures in place [...]

Businesses are still able to use postponed VAT accounting (PVA) to account for import VAT on their VAT returns. Accounting for import VAT on your VAT Return means you will declare and recover import VAT on the same VAT Return, rather than having to pay it upfront and recover it later. You will need to get your monthly postponed import VAT statement to do this. The normal rules about what VAT can be reclaimed as input tax will apply. See: Check when you can account for import VAT on your VAT Return - GOV.UK (www.gov.uk)

All workers are legally entitled to be paid the National Minimum Wage (NMW). This includes temporary seasonal staff, who often work short-term contracts in bars, hotels, shops and warehouses over the summer. The National Minimum Wage hourly rates from 1 April 2021 are: £8.91 - age 23 or over (National Living Wage) £8.36 - age 21 to 22 £6.56 - age 18 to 20 £4.62 - age under 18 £4.30 - apprentice Employers who do not pay the NMW can be publicly ‘named and shamed’ and those who blatantly fail to comply can face criminal prosecution. Employers can contact the Acas helpline for [...]

Last week the milestone of more than 35 million adults receiving both doses of a COVID-19 vaccine (more than two thirds of the adult population) was passed. From today all remaining limits on social contact are removed and there will be no more restrictions on how many people can meet in any setting, indoors or outdoors. All settings will be able to open, including nightclubs. Large events, such as music concerts and sporting events can resume without any limits on attendance or social distancing requirements . All restrictions on life events such as weddings, funerals, bar/bat mitzvahs and baptisms will [...]

Establishing an exit strategy is essential whether you are selling or closing your business. Leaving a business can be very stressful so It’s advisable to seek advice and create a plan with help from dedicated professionals. Having your exit strategy pre planned will ensure that emotions don’t cloud your judgment and that the transfer will be done quickly and smoothly. Download the attachments below to help plan your own exit strategy. Information Memorandum A template PowerPoint document to be used when a company’s shareholders are looking to sell their business. Download Preparing a Company [...]

Tax advantages of electric cars If you are an employer deciding which vehicles to add to your company car fleet – it’s important you also weigh up the rates of company car tax (or BiK tax), as this will be deducted from your employee via PAYE. It is relatively easy to estimate company car tax rates; you can do this by simply checking a car model’s Co2 emissions standard. Typically, company car tax on electric cars is the most tax-efficient because they are zero emissions and fall under the lowest BiK tax rate bracket. Company car tax on electric cars [...]