The following Employment Tax guidance note Produced by Tolley in association with Sarah Bradford provides comprehensive and up to date tax information covering:
Under the Immigration, Asylum and Nationality Act 2006 employers have a duty to prevent illegal working inthe UK. As part of the process of taking on a new employee, an employer should check that the individual inquestion is legally entitled to work inthe UK. Employers are obliged to check a document that is regarded as acceptable for showing permission to work inthe UK. The initial checks should be carried out before employing a person. Follow-up checks should also be carried out where a person’s right to work inthe UK is time-limited. While there is no penalty for simply failing to carry out such a check, if an employer is found to be employing someone who does not have a legal right to work inthe UK, the employer can face a civil penalty of up to £20,000 inrespect of each illegal worker. If the employer knows that an individual does not have the right to work inthe UK but employs them anyway, that is a criminal offence for which the penalty is an unlimited fine and / or up to two years injail. The employer should be aware that they are liable for the civil penalty, even if the check is performed by a member of staff. Further, the employer will not be able to establish a statutory excuse if the check is performed by a third party, such as a recruitment agency or a professional adviser. It is vital that employers understand their responsibilities inrelation to the checks.
The Government produce a guide for employers, setting out what checks they need to undertake to make sure that an individual has a right to work inthe UK.
The UK negotiated a Withdrawal Agreement and left the EU on 31 January 2020 (referred to as ‘exit day’) with an 11-month implementation period up to 31 December 2020. While exit day
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What is quick succession relief?Quick succession relief (QSR) reduces the tax payable when the same property has been subject to more than one charge to IHT. It applies where there have been two chargeable transfers on which tax is payable within a period of five years.Although commonly called QSR,
Tax professionals will often be asked to provide input into the financial statement work undertaken by audit professionals. This guidance note is intended to give an overview of some of the key issues when undertaking audit work.This note is an introduction only and is written on the assumption that
A ‘pilot trust’ is one that holds a nominal amount of property (typically a small sum of cash) and does not become active until further funds are added later. The later addition is sometimes made on the client’s death by a gift in his Will. The use of pilot trusts in conjunction with Wills became a
The corporate interest restriction (CIR) essentially limits the amount of interest expense a company can deduct from its taxable profits if the interest expense is over £2 million. The actual mechanics of the CIR calculation are highly complex (the legislation is over 150 pages long) and are