by VelocityAS | Dec 1, 2021 | Accounting, Finance, PAYE, Tax, VAT
If you are holding a Christmas party for staff this year, you may want to take advantage of the tax exemption for annual parties and functions to prevent your employees from suffering a benefit-in-kind tax charge. Keeping the Christmas party tax-free will also mean... 
by VelocityAS | Oct 1, 2021 | Accounting, National Insurance, PAYE, Tax
If you agreed a PAYE Settlement Agreement (PSA) with HMRC for 2020/21, you will need to pay the tax and Class 1B National Insurance that is due in October 2021. The deadline for paying the tax and National Insurance is 22 October if you make your payment... 
by VelocityAS | Jun 9, 2021 | Accounting, National Insurance, PAYE, Tax
You can use a PAYE Settlement Agreement (PSA) if you wish to settle the tax liability arising on the provision of a benefit-in-kind or an expense on an employee’s behalf. This can be useful if you wish to preserve the goodwill nature of a particular benefit. Nature of... 
by VelocityAS | Oct 3, 2020 | National Insurance, PAYE, Tax
If you have a PAYE Settlement Agreement (PSA) in place for 2019/20, you will need to pay the tax and National Insurance due under the agreement by 22 October 2020, assuming payment is made electronically. If you pay by cheque, the cheque must reach HMRC by the earlier...