Q: I run a relatively new business. Our employer National Insurance contributions are quite modest at this point, standing at £13,900 annually so far since we set up. I'm aware that various changes are set to come in soon but could you please summarise what we need to be preparing for? Answer
Q: I'm thinking about introducing a scheme encouraging employees to bring forward ideas to improve my business, offering a significant reward for the best suggestion. I'm looking at all options including cash award prizes. What do I need to know from a tax liability perspective? Answer
Q: I've got a couple of staff at my company who are approaching long service milestones and I want to award them with something to show appreciation and recognition. One has been here for 30 years, the other 15. How much tax would I need to pay if I want to give them a financial reward? Answer | Newsletter issue – March 2025
19th
- For employers operating PAYE, this is the deadline to send an Employer Payment Summary (EPS) to claim any reduction on what you'll owe HMRC.
22nd
- Deadline for employers operating PAYE to pay HMRC. This is also the quarterly deadline for businesses that pay per quarter.
26th
- Chancellor to deliver Spring Forecast to Parliament; tax changes may be announced.
31st
- for many companies, it's the financial year-end, aligning with the financial year for Corporation Tax purposes, which runs from 1 April to 31 March.
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