Is Tax Payable on Tips?

The question of whether tips and gratuities are taxable and subject to National Insurance Contributions (NICs) often results in a lively debate. Broadly, their treatment will depend on how they are paid to the recipient. Cash tips handed to an employee, or say, left on the table at a restaurant and retained by the employee,…

Cost of Using a Company Van

Under the government’s new timetable, any changes to tax rates, allowances and benefits are now generally announced in conjunction with the Autumn Budget each year. This approach is designed to allow employers time to make the necessary changes to payroll systems in advance of the start of the new tax year. In relation to company…

New Savings Accounts Launched

According to recent figures, an estimated 3.5 million people on low incomes are now eligible to open new government- incentivised savings accounts designed to help people build up a ‘rainy-day’ fund. Although much delayed since its original announcement in March 2016, the launch of the new Help-to-Save scheme follows an eight-month trial, with over 45,000…