The following Employment Tax guidance note Produced by Tolley in association with Vince Ashall provides comprehensive and up to date tax information covering:
Retirement age, or more precisely, State Pension Age, is a ‘movable feast’. This will be the normal situation as the State Pension Age is increased; current legislation provides for phased increase to age 68.
Since April 2010, the state retirement age for women has been increasing in order to align it with the state pension age for men, currently set at 65. This only affects women born on or after 6 April 1950.
See Example 1.
The timetable for increasing women’s state pension age to 65 was changed following the decision to increase state pension age for both men and women to 66 (see below).
From April 2016, the process of alignment at age 65 was accelerated and completed in November 2018. The timetable can be viewed on the GOV.UK website.
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login
IntroductionSubsistence is the amount incurred as a consequence of business travel. Typically it relates to accommodation and meal costs incurred. These amounts are allowed because they are associated with the necessary travel. See the Travel expenses guidance note for more information of when
Summary of capital allowances on carsThe current capital allowance rates applicable to cars are as follows:Pool typeDescription of carRateLegislationMain rate poolNew and unused cars with CO2 emissions over 50g/km but not more than 110g/km (to be reduced to 50g/km and below from April 2021)18%CAA
From 6 April 2015, an individual can elect to transfer 10% of the personal allowance (£1,250 in 2020/21 and 2019/20) to the spouse or civil partner where neither party is a higher rate or additional rate taxpayer. The legislation calls this the ‘transferable tax allowance’ but the GOV.UK website
Many people work from home either on an informal or a full-time basis. These people can be employed or self-employed, and their employment status affects the expenses they can claim as a deduction from their earnings.When dealing with someone working from home, it is important to remind him that
To view our latest tax guidance content, sign in to Tolley Guidance or register for a free trial.