The news that Reed had lost its appeal against tax liabilities of £158m served as a much needed wakeup call to any employment business which uses a salary sacrifice arrangement to increase the take-home pay
Having consulted with our team of legal/tax advisors and YOU, our customers, Zeva have developed amendments to our current procedures that will not only implement the regulations, but could save you money.
HM Revenue and Customs (HMRC) issued a statement on 11 July 2011 relating to what it described as a “pay day by pay day tax relief model”.
On the face of it, the statement appears to be a weak attempt at clouding what is a genuinely available by reference to current legislation and case law, in order to prevent a leakage of tax revenues at the expense of the most vulnerable workers in our society – the low paid.
The construction industry is said to be in complete disbelief after the Office for National Statistics said that business in this sector has contracted by 4.7% in the first quarter of 2011. This figure was later revised to 4% but this has in no way has alleviated any confusion concerning this matter.
n a bid to cut costs on ‘drawn out and costly’ tax procedure inspections HMRC have promised to treat honest traders with a light touch. On the flip side they plan to throw the book out firms suspected of multiple taxes.
During the first 3 months of the year UK unemployment fell by 36,000 according to the Office for National Statistics. After this fall the rate of unemployment now stands at 7.7% but among 16-20 year olds there are one in five young people now out of work. This roughly amounts to 935,000.
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