Common questions permanent employees ask about tax codes Why is my tax code different to my friends and does it make a difference to the amount of tax I pay? In this series of articles, we will answer this question. What is a tax code and why is my tax code important?...
With a fourth specialist team tasked solely with tackling IR35 enquiries, we are expected to see an increase in enquiries over the coming years. With this in mind, it is important for contractors to ensure they fully understand the legislation and are taking every...
When to Register for PAYE? Any company or employer who has one or more employees needs to register for a PAYE (Pay As You Earn) scheme with the HMRC if any of the following applies to any one of their employees: * Earn at or above the PAYE threshold (above £9,440 for...
There are three tax ‘types’ payable on salary payments (salary payments include sick leave, maternity or paternity pay and adoption pay) and they all work on a sliding scale. The more you earn, the more tax you pay. * PAYE Tax: Employers deduct Pay As You...
A lot of people let out rooms in their residence for extra income. This raises the question whether they need to pay tax on the income generated from renting out a room. If you are letting a room or rooms (furnished) in your main residence, then there is a special...
