Will new tips rules affect your business?
A new Act on tipping has been passed with the aim of ensuring that more of what customers leave as tips go to staff. Does this mean you need to update your payroll processes and are there any changes to how tips are taxed?
Despite the recent introduction of Real Time Information (RTI) for PAYE, HMRC has confirmed that around 5.5 million people paid the wrong amount of tax in the 2013/14 tax year.
With the news that HMRC may soon have powers to recover tax directly from your bank account, we offer some advice on keeping your tax bill to a minimum.
This valuable allowance is due to start for all businesses on 6 April 2014, and simply exempts the employer from the normal employer NICs of 13.8% of the earnings paid.