ÀÏ˾»úÎçÒ¹¸£Àû

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

Research and development expenditure credit (RDEC)

Research and development expenditure credit (RDEC)This guidance note provides information on how research and development expenditure credits (RDEC) are calculated and utilised. The Qualifying expenditure for R&D tax relief guidance note provides information on what expenditure qualifies for

14 Jul 2020 13:24 | Produced by Tolley in association with Will Sweeney Read more Read more

Non-trading deficits on loan relationships

Non-trading deficits on loan relationshipsOverview of non-trading deficits (NTDs)When a company’s debits on its non-trading loan relationships and derivative contracts in an accounting period exceed the credits on its non-trading loan relationships and derivative contracts in the same period (the

14 Jul 2020 12:17 | Produced by Tolley Read more Read more

Gilts

Gilts‘Gilts’ are securities that are also known by a number of different names (eg gilt-edged securities, Government securities or treasury stock).The Government sells gilts to fund the deficit between public spending and tax receipts. Normally, the Government pays interest to the holder of the gilt

14 Jul 2020 11:48 | Produced by Tolley Read more Read more