Newsletter 79

Headlines from our latest newsletter.  Please click on any of the links below for more information :

HMRC GUIDANCE ON NEW PENSION FLEXIBILITY

Following the Budget announcements regarding pension flexibility HMRC have now issued some guidance for those individuals who may wish to review their pension options - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-79#HMRC

EMPLOYERS NO LONGER ABLE TO RECLAIM SSP

The Percentage Threshold Scheme (PTS), which allows employers to reclaim Statutory Sick Pay (SSP) in certain circumstances, is abolished from 6 April 2014 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-79#SSP

DISCLOSURE FACILITY FOR THOSE WITH UNDISCLOSED SECOND INCOMES

The Second Incomes Campaign is an opportunity open to individuals in employment who have an additional untaxed source of income - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-79#Disclosure

MORE GUIDANCE ON CLASS 3A NIC

Further guidance has been issued on Class 3A National insurance contributions (NIC) - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-79#NIC

MORE HMRC GUIDANCE ON THE EMPLOYMENT ALLOWANCE

The Employment Allowance of up to £2,000 is available to most employers from 6 April 2014 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-79#Allowance

TAX-FREE CHILDCARE

Details of the new Tax-Free Childcare scheme which is to be launched in autumn 2015 have been announced - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-79#Childcare

INCREASE IN NMW RATES

The Government has approved a rise in the National Minimum Wage rates which will come into effect on 1 October 2014 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-79#NMW

ADVISORY FUEL RATES FOR COMPANY CARS AND FUEL BENEFIT CHARGE

Where private fuel is provided by the employer for a company car then a separate benefit is assessable on the employee - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-79#Advisory

P11D DEADLINE APPROACHING

The forms P11D, and where appropriate P9D, which report details of expenses and benefits provided to employees and directors for the year ended 5 April 2014, are due for submission to HMRC by
6 July 2014 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-79#P11D