HLAS

If you trade as a limited company, then you will likely know that balancing salary and dividends is key to extracting profit from your company in the most tax-efficient way. Both methods have distinct implications. and the right mix will depend on your specific circumstances. The Autumn Budget, with its changes to employers national insurance rates and the employment allowance has further complicated the picture. Here we set out some of the factors you need to keep in mind. Salary: What to consider A salary is a straightforward way to pay yourself from your company, and it offers a few [...]

The UK government has announced that it remains fully committed to a Deposit Return Scheme and expects to launch the scheme across England, Scotland and Northern Ireland in October 2027. The UK government will be working with the Scottish government and the Department of Agriculture, Environment and Rural Affairs in Northern Ireland to bring about these changes. The Welsh government has announced a delay in their applying a Deposit Return Scheme, as they look at options that will support already ongoing initiatives. Wales is ranked second in the world for recycling. It is hoped that a Deposit Return Scheme will [...]

The Health and Safety Executive’s (HSE) recently released annual statistics for 2023/24 reveal the challenges being faced by employers in managing work-related ill health and injuries. Stress, depression, anxiety, and workplace injuries continue to be issues affecting the health and wellbeing of workforces. Key insights from the report  Work-related ill health: Around 1.7 million workers suffered from work-related ill health, with 776,000 cases attributed to stress, depression, or anxiety. Workplace injuries: 138 workers lost their lives to work-related accidents, and 604,000 sustained non-fatal injuries. Economic costs: Work-related ill health and injuries cost the economy £21.6 billion in 2022/23, with an [...]

5,000 additional construction apprenticeship places are to be made available annually as part of a £140 million initiative aimed at addressing workforce shortages and meeting housebuilding targets. Central to this plan is the establishment of 32 new Homebuilding Skills Hubs, which are designed to accelerate training. What will the Homebuilding Skills Hubs offer? The hubs, which will be purpose-built training centres, will aim to provide a fast-track route into key construction trades such as bricklaying, roofing, plastering, scaffolding, and carpentry. These centres will replicate realistic working environments, offering apprentices hands-on experience. Notably, the fast-track apprenticeships available through these hubs can [...]

People staying overnight in Wales may soon have to pay a small charge in changes proposed by the Visitor Accommodation (Register and Levy) Etc. (Wales) Bill. The levy would be set at 75p per person a night for hostels and campsite pitches. For all other accommodation types the levy will be £1.25 a person a night. The decision on whether to set a levy or not will rest with the local authority for the area. The legislation also includes a requirement to establish and maintain a register of visitor accommodation in Wales. A statutory registration scheme for all accommodation providers [...]

The government has unveiled some significant reforms to employment support, underpinned by a £240 million investment. The measures aim to address deep-rooted issues of unemployment, economic inactivity, and barriers to work, as detailed in the newly published Get Britain Working White Paper. Figures quoted in the government’s announcement made for sobering reading. 1.5 million are unemployed, 9 million are economically inactive, and a record 2.8 million are out of work due to long-term illness. Young people, in particular, are disproportionately affected, with one in eight not in education, employment, or training. The UK is apparently the only major economy that [...]

HM Revenue and Customs (HMRC) have issued a reminder to be careful about scam attempts that target people filing Self Assessment tax returns. In the last year, nearly 150,000 scam attempts were referred to HMRC, a 16.7% increase on last year. With the 31 January 2025 filing deadline approaching, fraudsters are likely to step up their activities. HMRC reports that around half of all scam reports in the last year were fake tax rebate claims. Fraudsters are usually aiming to get hold of personal information and banking details. If you receive an email, text or phone call from someone claiming [...]

With last week being Charity Fraud Awareness Week, the Charity Commission has unveiled updated guidance to help trustees protect their charities from fraud and cyber crime. This follows the regulator revealing that it opened 603 cases related to fraud and 99 cases involving cyber crime in the past year. Simplified and focused guidance  The newly launched resources include: Fraud guidance: Explains what trustees should do if fraud or attempted fraud occurs. Provides practical tips to mitigate fraud risks, such as implementing robust internal financial controls. Cyber crime guidance: Focuses on common threats, such as phishing, which the Commission has identified [...]

The table below sets out the HMRC advisory fuel rates from 1 December 2024. These are the suggested reimbursement rates for employees' private mileage using their company car. Where the employer does not pay for any fuel for the company car, these are the amounts that can be reimbursed in respect of business journeys without the amount being taxable on the employee: Where there has been a change the previous rate is shown in brackets. You can also continue to use the previous rates for up to 1 month from the date the new rates apply. Note that for hybrid [...]

There remains no taxable benefit for employees, provided all staff are invited and the cost to the employer does not exceed £150 per head, inclusive of VAT. If you have already held a summer event, as long as the combined cost of both events is no more than £150 per head, there will be no taxable benefit in kind. However, if the summer event cost £80 per head and the Christmas party £100 per head, only one event will qualify for the exemption, and employees will be taxed on the £80 benefit. Alternatively, the employer could cover the tax and [...]