UUÂãÁÄÖ±²¥

Weekly tax highlights ― 17 February 2025

Produced by a Tolley Owner-Managed Businesses expert
Owner-Managed Businesses
Guidance

Weekly tax highlights ― 17 February 2025

Produced by a Tolley Owner-Managed Businesses expert
Owner-Managed Businesses
Guidance
imgtext

Direct taxes

Employer Bulletin: February 2025

HMRC has published the February 2025 issue of the Employer Bulletin, providing important updates and information relevant to employers and agents.

This edition includes updates and information on the following:

  1. •

    end of year reporting: Employers are reminded to prepare for end-of-year reporting, including the final Full Payment Submission (FPS) or Employer Payment Summary (EPS) by 5 April 2025. New online forms for PAYE and Construction Industry Scheme repayments have been introduced, and updates to Basic PAYE Tools will be released by the end of March 2025

  2. •

    tax Updates and Changes to Guidance: Changes to the classification of double cab pickups for tax purposes will take effect from 6 April 2025. The Official Rate of Interest may now change within the tax year, starting 6 April 2025. Employers are advised to check payroll for female employees paying reduced National Insurance rates

  3. •

    employee hours data requirements: Confirmation that employers will not be required to provide more detailed employee hours data to HMRC from April 2026

  4. •

    general Information and

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+â„¢
Powered by
  • 17 Feb 2025 08:01

Popular Articles

Fuel-related payments / mileage payments

Fuel-related payments / mileage paymentsIntroductionMost employers will make payments to employees in relation to business travel. Among the most common payments in relation to business travel are fuel and mileage payments. If an employer does not reimburse these amounts, then the employee will be

14 Jul 2020 11:46 | Produced by Tolley in association with Philip Rutherford Read more Read more

Holdover relief for disposals by trustees

Holdover relief for disposals by trusteesOverviewWhere a capital gain has been realised on an asset that has been disposed of and that disposal was not for full value (that is not in an arm’s length sale) then holdover relief may be available. This will happen when trustees appoint capital assets

14 Jul 2020 11:54 | Produced by Tolley Read more Read more

Classes of NIC and who pays them

Classes of NIC and who pays themClass 1 NICClass 1 NIC is payable on earnings paid to an employed worker which derive from, or are treated as deriving from, an employed earner’s employment in the UK. There are two kinds of Class 1 NIC, primary contributions for which the employee is liable and

14 Jul 2020 11:13 | Produced by Tolley in association with Jim Yuill at The Yuill Consultancy Read more Read more