Hello,
June holds the longest day of the year, also known as the summer solstice and where the earth’s axis is titled at its closest point from the sun. As L.M. Montgomery said, “I wonder what it would be like to live in a world where it was always June” – it certainly gets our spirits up at AMR as we look forward to and hope for a long Summer.
As a team we recently welcomed Febby Jacob as an experienced bookkeeper. It was only on his second day where he said he thought we were “an energetic and lively team”. We love hearing such positive feedback.
Tax Free Childcare for Holiday Club
With the school holidays approaching we wanted to remind you that, if you are eligible for tax free childcare, you can use your account against the costs of holiday club. The play scheme does need to be registered but for every £8 you pay into your childcare account, the Government will pay in £2 to use to pay your provider.
To check if you are eligible and for more information, please visit –https://www.gov.uk/tax-free-childcare
Changes to Reporting Benefits in Kind
On 16 January 2024 the Government announced that it will mandate employers to report and collect income tax and Class 1A National Insurance contributions on employment benefits through payroll software from 6 April 2026. This will see the end of the traditional forms P11D and P11D(b) from the 2025/2026 tax year. From this date, tax on employment benefits will be collected in real time and not through tax codes in arrears. Class 1A National Insurance contributions will also be collected in real time for each pay period rather than at the end of the year.
Although this may seem quite a change it is not intended to increase taxes for anyone but rather make it quicker and easier for employers to report their benefits in kind.
We are already starting to plan ahead for this change and how this will be managed by our payroll team.
If you have any queries with any matter then please do get in touch.
The AMR Team
