From today [Tuesday 1st October], millions of hard working and dedicated workers will benefit from new laws which will ensure they keep 100% of the money they have earned through tips. Introduced through a Private Members’ Bill last year, the Employment (Allocation of Tips) Act and the statutory Code of Practice on fair and transparentContinue reading “Millions to take home more cash as Tipping laws come into force”
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Home owners claim £170m in rent a room tax relief
Over 1.8 million UK adults rent out furnished rooms in their home allowing them to qualify for up to £7,500 in tax free income under the rent a room scheme In total £170m was claimed in the tax relief in 2023-23 showed HMRC figures, but the number of rent of room landlords using the schemeContinue reading “Home owners claim £170m in rent a room tax relief”
£150 cap on Christmas parties to avoid tax bill
Businesses planning to spend big on Christmas parties this year could leave employees facing a hefty tax bill. Company bosses who spend more than £150 per head on staff events per year could mean employees paying a taxable benefit in kind on the outlay, warned Forbes Dawson. It is important to note that it employeesContinue reading “£150 cap on Christmas parties to avoid tax bill”