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The new National Living Wage (NLW) came into force on 1 April 2016 and it entitles workers aged 25 and over to a minimum wage of £7.20 per hour. However, it would appear that a number of businesses have withdrawn staff benefits and perks, such as free food and higher overtime pay, to mitigate the impact of the NLW. For…

The Credit Card Sales campaign offers individuals and businesses that accept credit and debit card payments the opportunity to bring their affairs up to date and take advantage of the best possible terms. Any individual or company that accepts credit and debit card payments should be registered with HMRC. There is currently no end date for this campaign, however anyone…

The Low Income Tax Reform Group (LITRG) was established in 1998 to improve the policy and processes of the tax, tax credits and associated welfare systems for the benefit of those on low incomes. A new press release from the LITRG has highlighted the fact that tax credit claimants earning over £20,000 may see sharp cuts in their payments as…

The factsheet entitled National Minimum Wage information for employers has been updated to reflect the introduction of the new National Living Wage (NLW) on 1 April 2016. The factsheet provides employers with information on the type of checks HMRC make to ensure that employees are being paid at least the minimum legal amount they are entitled to as well the…

The latest statistics on the uptake of the government’s flagship Help to Buy schemes were published on 9 December 2015. The figures show that over 130,000 homes have been bought since the schemes were first launched in October 2013. This is an increase of over 10,000 homes over the previous quarter. Some of the headline figures include: 80% of scheme…

The Patent Box allows companies to apply a lower 10% Corporation Tax rate on profits arising from patent exploitation. Since April 2013, companies can apply the lower Corporation Tax rate (on a phased basis) to profits attributable to patents and other qualifying intellectual property such as medicinal or botanic innovation rights. Companies can use the Patent Box if they own…

There are special rules for businesses established outside the EU submitting a claim for VAT incurred in the UK. The deadline for the submission of a refund request for expenses incurred in the UK by non-EU businesses during the period 1 July 2014 – 30 June 2015 is 31 December 2015. There are a number of conditions which must be…