Statutory Sick Pay (SSP) is payable for up to 28 weeks, at a rate of £94.25 per week. It is paid for the days an employee normally works (called ‘qualifying days’) and is paid in the same way as normal wages, on the same paydate, with applicable tax and national insurance deductions.
Some companies may offer a company sick pay scheme where enhanced amounts are paid (such as full pay) but a scheme can not pay less than SSP.
To qualify for SSP, employees must satisfy the following requirements;Read More
Tax Tribunal Update: Tax Payer Subject to £25,000 Fine for Failure to Provide Adequate Records of Expenditure
The case concerned a Midlands based company (Teksolutions -Inc Limited) that made claims for the enhanced tax relief available for Research and Development.
HMRC inquired into these claims and found issue with the records kept by the company. The company had claimed taxable losses across two accounting years in the region of £400,000 – arising partially from the additional tax deductions available for R&D expenditure. After review HMRC assessed that the losses should be reduced to nil. (more…)Read More
Requirement to Supply a ‘Key Information Document’ to Agency Work Seekers, from April 2020
From 6 April 2020, temporary work agencies must provide agency work seekers with a Key Information Document, before agreeing terms with an employment business. The document must be straightforward to understand, easy to read and not exceed two sides of A4 in length. It is intended to provide agency work seekers with a number of pay related facts, along with engagement information. In practice, this will mean that the Key Information Document will be one of the first things they receive.Read More
Burgess Hodgson offer a facility to take out insurance with Croner Taxwise, the market leader in the specialist field for Tax Protection Insurance. This was introduced in response to clients’ concerns and the change in HM Revenue & Customs’ approach which was to concentrate their energies into investigations to ensure compliance. This increased the number of cases being reviewed.
If your Tax affairs were investigated, we can help you at every step of the process. There would be substantial accountancy costs involved but these would be covered by the insurance policy offered so you would not be chargeable.
If you have any queries about this policy, please contact your usual Burgess Hodgson contact or email email@example.comRead More