Last June HM Revenue and Customs launched two educational videos which are aimed at preparing teenagers for working life. One of the videos will help 14 to 17 year olds understand what it means when they receive their national insurance number and the benefits of using a personal tax account. The other new video is… Continue reading HMRC helps teenagers prepare for the world of work
(A-levels, further education or an approved training course, you MUST tell the taxman if you're claiming child benefit or risk losing out on thousands of pounds a year) June was a busy period for students throughout the UK as they completed their GCSE and A-Level exams, but what happens to your child benefits afterwards? Your… Continue reading Is your child about to collect their GCSES? – You need to tell the Tax Man
The government has announced proposals to extend pensions auto enrolment to include younger workers and to amend the way in which contributions are calculated. According to the press release: 'The review's recommendations, which will now be progressed and legislated for where necessary, will see: automatic enrolment duties continuing to apply to all employers, regardless of… Continue reading Proposals to extend pensions auto enrollment to younger workers
The Apprenticeship Levy is charged on employers’ “paybills” at a rate of 0.5%. The levy is payable through Pay as You Earn (PAYE) and is payable alongside income tax and National Insurance. To keep the process as simple as possible “paybill” will be based on total employee earnings subject to Class 1 secondary NICs. Each… Continue reading The Apprenticeship Levy
By deciding to do an apprenticeship the transition from school into the working world was made a lot easier. I still wanted to learn and get qualifications but I found this difficult to do in a classroom as the learning was not hands-on. By doing an apprenticeship I gained intimate knowledge of the work environment… Continue reading The benefits of becoming an apprentice
Some of you may think that training to become an accountant involves going to university and graduating with a degree - but this is not always the case. Here is my day as a junior accountant: It’s the dreaded Monday morning and I’m waking up nice and early so that I can attempt to miss… Continue reading A day in the life of a junior accountant
From 6 April 2016, HMRC have introduced a new relief which is designed to save Employers money if they employ Apprentices. If you employ an apprentice you will not need to pay employer Class 1 national insurance contributions (NICs) on their earnings up to £827 a week (£43,000 per annum) which will obviously save you… Continue reading National Insurance & Apprentices.