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Spring Budget 2024 date confirmed for 6th March | |
Chancellor Jeremy Hunt will deliver the 2024 Spring Budget on 6th March, the government has confirmed. The Budget will include the government's tax and spending plans as well as new growth and borrowing forecasts. It could be the last chance for the government to announce significant changes to tax policy before the general election. | | | |
We are holding an online seminar on 7th March at which our advisory panel will look behind the headlines and reflect on the real effects the Spring Budget will have on both companies and individuals and how your approach to tax planning could be adapted under these new legislative changes. There will also be an opportunity to raise your questions to our advisory panel. | |
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HMRC gain new powers to automatically gather data from digital sales platforms | |
From 1st January 2024, online sales platforms such as Etsy, Vinted or eBay must pass on sales volumes for each seller to HMRC. Previously HMRC had to make a specific request to each platform for a named person or business. These rules don’t only apply to UK platforms as most other large trading nations have an agreement with HMRC that the rules apply to UK traders selling via overseas platforms also. | | | |
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Attracting and retaining key staff: the role of the Enterprise Management Incentive scheme | |
The labour market in the economic hubs of London and the South East remains tight. Stiff competition for in-demand skilled professionals is reflected in salaries and the ease with which business-critical employees can move from one job to another. Businesses need to think creatively and use every tool available to them to attract and retain the best people. | | | |
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| What payroll, employment law and HR developments can SME employers expect from 2024 | |
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JCHR’s payroll lead, Nick Butler reminds us that whilst the landscape for statutory payroll appears quite static do remember that the rate of National Insurance has been cut by 2% from 6th January 2024. So, employees pay 10% instead of 12%, with no change to employer’s contributions. JCHR’s HR lead Bill Larke has filmed a video briefing for employers on HR and employment law changes coming this year. His briefing covers changes to holiday pay, national minimum wage, redundancy protection extensions, a new duty to prevent sexual harassment, flexible working, carers leave & changes to TUPE consultation rules. | |
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HMRC updates off payroll compliance guidance | |
HMRC recently updated its guidance on off payroll working compliance for employers.
The new guidance sets out 'practical steps' for organisations to follow. It affects employers who are responsible for operating off payroll working rules and who engage workers who provide their services through their own intermediary. | | | |
The guidance states that organisations should apply the new guidelines to 'reflect the complexity and scale of their own off payroll working engagements'. It said that the guidelines should be used to 'help make informed decisions based on individual circumstances'.
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James Cowper Kreston is a leading firm of accountants and business advisers, with offices across the South of England. We deliver focused, innovative advice to a diverse range of businesses and individuals helping our clients to maximise their potential. If you would like to discuss any of the topics raised within this newsletter please email us on info@jamescowperkreston.co.uk or call us on 01635 35255. James Cowper Kreston | |
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The information in this newsletter must not be relied on as giving sufficient advice in any specific case.
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