Latest News

January 2013

Start Up Loan Scheme for Young Entrepreneurs Extended

David Cameron has announced a boost to the government’s Start-Up Loans Scheme, with funding being increased by £30 million to £110 million over three years. The upper age limit for applying will also be extended from the current 24 to 30 years old.

HMRC bank account details for employers

HMRC have updated their guidance to employers on paying PAYE liabilities. From April 2013 employers who make a payment to HMRC by:

Employment rights-statutory limits

The limit on the amount of the compensatory award for unfair dismissal is set to increase from 1 February 2013. The current maximum of £72,300 is to increase to £74,200 due to inflation.

Child benefit opt out

The High Income Child Benefit Charge (HICBC) was introduced from 7 January 2013. It generally applies to a taxpayer who has ‘adjusted net income’ in excess of £50,000, where either they or their partner is in receipt of Child Benefit.

RTI is coming

HMRC are urging employers to get ready for major PAYE changes that come into effect from April 2013.

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