25 October 2019
When considering the tax treatment of a payment in relation to the termination of employment, for many the tax exempt figure of £30,000 immediately comes to mind. However, it is not that simple, as it cannot be assumed that it automatically applies. Furthermore, the NIC rules affecting termination payments are changing from 6 April 2020, which could result in additional complexities and costs for employers.
24 October 2019
Administrators from RSM have confirmed that Forever 21's three UK stores will immediately commence a major £30m stock clearance sale.
22 October 2019
In the current uncertain economic and political climate trading has become increasingly challenging. Many retailers and restaurant operators have implemented CVAs as a means of addressing their long-term structural issues, notably over-rented extensive property portfolios. RSM’s Retail Restructuring team share their thoughts on successful CVAs.
04 October 2019
Thai Leisure Group has had its proposed Company Voluntary Arrangement (“CVA”) approved by its creditors at a meeting today.
27 September 2019
Many employers provide employees with fuel for their company cars but apply special employment tax rules which reduce any car fuel benefit arising to nil. This is an area where problems can arise, usually because of misunderstandings about the definition of business travel or because of an absence of records. Do you understand the rules?
30 August 2019
Tax relief and subsistence is an area where there are frequent tax compliance problems. Especially in organisations that have highly mobile workforces. Could this be a problem for your organisation?
30 July 2019
The legislative changes for off-payroll workers in the private sector will not apply to client end users who are small companies. For those, the current legalisation in Chapter 8 of ITEPA 2003 remains applicable. The size of the company (and in the case of a parent company, the size of the group headed by it) in terms of its turnover, balance sheet total and average number of employees determines whether it is classed as small.
From 6 April 2021, off-payroll working rules (commonly known as IR35) will be reformed. This change impacts around 60,000 engager organisations, predominantly medium and large-sized businesses, outside the public sector that engage with individuals through personal service companies (PSCs).