Most types of bonuses that businesses offer their employees will come with a tax liability. Cash bonuses are added to an employee’s other earnings and will be liable for Income Tax if they take the person’s total earnings above the £12,570 personal allowance threshold. Some bonuses are given as benefits in kind, and these will […]

The need to address workers’ financial wellbeing is growing with the looming recession and cost of living crisis affecting all of us.  Oddbox, the UK’s food-waste-fighting fruit and veg box, has signed up to Mintago to provide a financial wellbeing platform to its staff. Mintago is an FCA-regulated financial wellbeing company. It helps employees find all their […]

Employees who are currently required to work from home as a result of the ongoing Covid19 pandemic are advised to check their eligibility for tax relief. Tax preparation specialist David Redfern, director of DSR Tax Refunds Ltd, issued his advice for homeworkers as HMRC updates its tax relief rates for homeworkers for tax year 2021/22. […]

With the end of the tax year approaching and the reduction to the Annual and Lifetime Allowances (AA/LTA) to be implemented from 6 April, just 3% of employers are offering specific support for staff impacted by the change, according to the latest research from Close Brothers Asset Management. In the Budget in March last year, […]