State pension spending set to increase

Government expenditure on the state pension is expected to rise by 2.1% in 2019/20, according to figures from the Department for Work and Pensions (DWP). Latest forecasts show spending for 2018/19 will be £96.8 billion, but this is estimated to rise to £98.8bn in the...

Ending late payments to small businesses

Two weeks ago (19 June 2019), small business minister Kelly Tolhurst unveiled a new package of measures she says will "end the unacceptable culture of late payment". The proposals she announced include introducing new powers for the small business commissioner, and...

P11D and P11D(b) deadline approaches

Employers have until 6 July 2019 to report employee benefits and expenses for the 2018/19 tax year. Any taxable benefits must be reported before the deadline using P11D and P11D(b) forms. Failing to meet the deadline could result in a penalty of £100 for every 50...

Recruiters call for flexible training levy

The apprenticeship levy should be changed to a ‘flexible training levy' that includes temporary workers, according to the Recruitment & Employment Confederation (REC). The levy is paid by employers with a pay bill over £3 million a year, who receive an allowance...

Pension rules ‘cause confusion’ for higher earners

A restriction on pension contributions for higher earners is "causing confusion for taxpayers", mutual insurer Royal London has warned. Under the current rules, tax is due on pension contributions when they exceed the standard annual allowance of £40,000. However, a...