You can catch up with 'Expenses and benefits – an introduction' - a recorded webinar for any employer who pays expenses or provides benefits to employees and wants to know more.
For assistance at a time that suits you, visit the ‘Help and Support for employing people’ page on GOV.UK. You will find an excellent resource of live and recorded webinars, online guides and YouTube videos to support you in your capacity as an employer.
Back to Contents
New parents could miss out on almost £500 from their tax credits 30 July 2018
Many parents do not realise they need to deduct their statutory parental pay from their salary when renewing tax credits.
Thousands of parents could be at risk of missing out on hundreds of pounds from their tax credits by accidently reporting their income incorrectly.
HM Revenue and Customs (HMRC) is urging parents to check their income to avoid potentially missing out on an average of £495 a year. Many tax credits claimants who receive statutory maternity pay do not realise that some of this pay should be deducted from their gross pay when their tax credits awards are calculated.
As well as maternity pay, parents can deduct any payments they have received for statutory paternity, shared parental or adoption pay up to a value of £100 a week.
HMRC estimates that parents who did not deduct their statutory maternity pay from their income could have been entitled to on average an extra £495 across the year. Around 35,000 people could potentially be missing out. A full list of what can be deducted is available on GOV.UK.
Parents need to make sure they renew their claim before the 31 July deadline for tax credits renewals.
Go to GOV.UK for further information on tax credit renewals
Back to Contents
HMRC helps teenagers understand the facts about tax 31 July 2018
HMRC has launched two new educational videos to help prepare teenagers for working life ‘Your National Insurance Number and Personal Tax Account’ and ‘Introduction to the Construction Industry Scheme’.
Both videos are part of HMRC’s Tax Facts programme which supports teachers in helping their students learn and understand the facts about tax.
Tax Facts is a comprehensive teachers’ pack, designed to provide an introduction to the tax system for 14 to 17 year olds studying citizenship, business enterprise, personal finance, and other aspects of the curriculum that prepare them for life beyond school. The scheme provides teachers with detailed lesson plans and guidance along with a number of HMRC-produced short, animated videos which inform students about some of the key tax issues they will face as they begin their working lives.
The two latest videos in the Tax Facts programme are:
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
Page 312 of 598
Made with FlippingBook - Online magazine maker