Thompson Elphhick News
An outline of the Employment Rights Bill
Legislation has been introduced in Parliament to upgrade UK workers’ rights. The legislation is wide ranging with the intention of tackling poor working conditions and benefitting businesses. A
New brooms to deliver better pension frameworks
The Department for Work and Pensions has published an outline of the new Pensions Scheme Bill. There are three main objectives that the government want to achieve, and they are set out below. However,
Will 10% tax on business disposals survive?
While there have been no specific announcements regarding changes to Business Asset Disposal Relief (BADR), the Chancellor may consider modifying this relief in the upcoming Budget. If you are
Chancellor unveils new measures
Chancellor Rachel Reeves has recently introduced a series of new measures aimed at advancing the priorities of the new government. The key announcements include: New funding for breakfast clubs at
Construction industry – VAT reverse charge
There are special VAT reverse charge rules in place for certain building contractors and sub-contractors. These regulations, which came into effect on 1 March 2021, make the supply of most
Using the GOV.UK ID Check app
The GOV.UK ID Check app is used to allow applicants to verify their identify when they sign in to a government service with GOV.UK One Login. Once this had been completed satisfactorily, your identity
Service tipping law now in force
New regulations that prohibit employers from withholding tips for employees in the hospitality, leisure, and services sectors took effect on 1 October 2024. This change follows the enactment of The
New powers for banks to combat fraudsters
Banks will be granted new powers to delay and investigate payments suspected of fraud, enhancing consumer protection against scammers. Under new laws being proposed by the Government, banks will be
New residence-based relief for non-doms
A reminder that the government has stated that it will remove preferential tax treatment based on domicile status for all new foreign income and gains (FIG) that arise from 6 April 2025. To replace
Government crack-down on late payers
The government has unveiled new measures to support small businesses and the self-employed by tackling the scourge of late payments, which according to the Smart Data Foundry is costing SMEs £22,000 a
Tax Diary November/December 2024
1 November 2024 - Due date for Corporation Tax due for the year ended 31 January 2024. 19 November 2024 - PAYE and NIC deductions due for month ended 5 November 2024. (If you pay your tax
When you must register for VAT
The taxable turnover threshold for VAT registration is currently £90,000 and has applied since April 2024. Businesses must register for VAT if they meet one of the following conditions: At the end