Salary advances: change to reporting rules
Where an employer makes part of a salary payment to an employee early, strict rules dictate when this must be included in the payroll real time information reporting. A recent change has relaxed the rules – what do you need to know?
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New HMRC guidance on winter fuel payments
HMRC has released new guidance on the recovery of winter fuel payments. What do you need to know?
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Festive tax breaks for remote workers
You’re familiar with the tax break for Christmas parties but you now have a few remote workers, and the company will need to reimburse their travel and accommodation costs if they attend an event. Which costs count towards the tax-free limit and how can you manage any overspend?
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New process for some exports starting in Northern Ireland
Starting next month, businesses that import goods via Northern Ireland will need to change their processes. What do you need to know?
Up until recently, the rules regarding reporting an advance on earnings required employers to submit an additional full payment submission (FPS) to record them on the day the advance was made. As this created an additional administrative burden, both for the employer and HMRC, as well as increasing the likelihood of Universal Credit errors, the requirement has been changed.
For pay periods falling after 6 April 2024, the advance can be reported on the FPS that covers the contractual payment date. This is the case even if the contractual payment date is in a later tax year. The change means the requirement for extra FPS submissions is removed.
It is important to note that this only applies to “payments on account of earnings”, rather than employer loans, e.g. for season tickets – even though these may be repaid via a deduction of salary each pay period.
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