National Minimum Wage Rates

New rates came into force on 1 October 2012 and are: £6.19 per hour for workers aged 21 and over – a rise of 11p £4.98 per hour for 18-20 year olds – no change £3.68 per hour for workers above school leaving age but under 18 – no change £2.65 per hour for apprentices…

HMRC Advisory Fuel Rates

Where an employer reimburses an employee for fuel only, the employer can choose to reimburse using the ‘advisory rates’ issued by HMRC. If  different rates are used, the employer would need to be able to justify this with some supporting evidence. New advisory fuel rates have been issued by HMRC that took effect from 1…

Charitable donations and the tax savings

After much intense lobbying by the charity sector, the Chancellor’s attempt to cap tax relief on charitable giving (Budget 2012) was withdrawn. Major donors to charities are obviously moved to philanthropy by considerations other than the amount of tax they can save, although they will want to make their donations in the most tax efficient…