Payroll

Jan 19, 2022

Changes to claiming Subcontractor Construction Industry (CIS) deductions

HMRC have issued recent guidance on changes to claiming subcontractor Construction Industry Scheme (CIS) deductions as part of their...

Jan 5, 2022

What limited company expenses can I claim?

Limited company expenses are allowable expenses that your business can claim, helping you reduce your corporation tax bill. You subtract...

Dec 21, 2021

April 2022 Statutory Maternity, Paternity and Sick Pay rates published

The government has published the proposed statutory rates for maternity pay, paternity pay, shared parental pay, adoption pay, parental...

Dec 6, 2021

Government confirms state pension rate for 2022 to 2023

The Department for Work and Pensions (DWP) has confirmed that the state pension will rise by 3.1% next April, in line with the consumer...

Dec 2, 2021

Mileage and Fuel Allowance

If you're looking at mileage allowances for business use of employees own vehicles, and reviewing or planning your finances, please feel...

Nov 29, 2021

The rising wages impact on small business

Last month, it was announced that next April (1 April 2022) the National Living Wage and the National Minimum Wage are set to increase....

Nov 19, 2021

Student loan repayment guidance for employers

HMRC has updated its guidance for employers on what deductions to make for employees who have more than one student loan plan. If your...

Nov 16, 2021

Pension age protection window closed

Changes to the normal minimum pension age (NMPA) are set to come into effect from 2028. The Treasury has closed the opportunity for...

Nov 12, 2021

Payroll RTI Reporting: Exception to the rules

HMRC have issued a reminder to employers that in respect of PAYE Real Time Information (RTI) filing, the contractual payment date should...

Nov 9, 2021

HMRC publishes new guidance for businesses using temporary workers

Many businesses use recruitment agencies to source temporary workers. These agencies may choose to outsource the administrative burdens...

Oct 28, 2021

Autumn Budget and Spending Review

Rishi Sunak delivered his third budget as chancellor to the Commons on Wednesday 27 October 2021 where he announced a series of measures...

Oct 25, 2021

Autumn Budget 2021 - Early indications, announcements and more.

Rishi Sunak will deliver his budget and spending review to the Commons this Wednesday and the Chancellor has already announced a series...

Oct 20, 2021

Budget 2021 predictions

The Chancellor, Rishi Sunak, will reveal his Budget and Autumn spending review to the Commons on 27 October 2021, The government spending...

Oct 11, 2021

Salary sacrifice 'may mitigate the NICs rise'

Salary sacrifice arrangements could help lessen employees’ additional tax bills from the rise in National Insurance contributions (NICs)...

Oct 5, 2021

What will be in the upcoming Autumn budget for small businesses?

The second Budget in 2021 will be announced alongside a spending review on 27 October 2021. With the UK still recovering, what could be...

Oct 1, 2021

Chancellor announces extension of Kickstart Scheme

Businesses have been given an extra three months to take on young employees through the government funded Kickstart Scheme after Rishi...

Sep 22, 2021

NIC increase: What it means for small businesses

If you're an employer, the rate changes could make the process of hiring staff more expensive. Looking ahead, you will likely need to cut...

Sep 20, 2021

COVID Sick pay rebate scheme set to close.

The government scheme enabling small businesses to recoup statutory sick pay costs due to coronavirus were closed at the end of the...

Sep 8, 2021

PM announces 1.25% National Insurance hike

National Insurance contributions will rise by 1.25% to pay for the social care system in England, with the levy expected to raise about...

Aug 26, 2021

Government considering a National Insurance rise to fund social care

The Government could increase National Insurance contributions (NICs) by 1% for both employers and employees, a report has claimed. The...

Foxmain Associates is a trading name of Foxmain Associates Limited.

Foxmain Associates Limited is a member firm of the Institute of Chartered Accountants in England and Wales and is a limited company registered in England and Wales with registered company number 06210487.