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Despite Covid restrictions and support schemes being wound down across the country, leading independent accountancy firm Kilsby Williams is urging businesses to continue to ensure that their records are in order, in preparation for potential furlough inspections being carried out by HMRC. The Coronavirus Job Retention Scheme, commonly referred to as furlough, protected nearly 12 […]

The payroll tasks which must be completed at the end of the tax year are more straightforward than they were before the introduction of Real Time Information reporting, but there are still a number of tasks and deadlines to be aware of. Final Submission for the Current Tax Year The final payroll must be processed […]

The new tax year is now just around the corner and so it is time to start considering any changes that should be made to your payroll from 6 April 2022. The main changes for 2022/23 are increases in National Minimum and Living Wage rates and the introduction of the National Insurance increase to cover […]

As we approach the end of the tax year, it is time for employers to start thinking about preparing the annual P11D forms which report taxable benefits provided to employees. Many employers offer their staff a reward package that includes benefits-in-kind, such as company cars, private medical insurance and other items such as gift vouchers. […]

From 6 April 2022 to 5 April 2023, NIC will increase by 1.25% to fund social care and help the NHS recover after the pandemic. Currently employees pay 12% NIC on earnings between £9,568 and £50,270 (£9,880 from April 2022) and 2% on income over that level.  Employers suffer 13.8% on income over £9,100.  This […]

With the deadline for the Economic Resilience Fund (ERF) application fast approaching, Kilsby Williams is encouraging businesses to act fast so as not to miss out. The ERF is a Welsh Government fund of £120 million that businesses in Wales can access if they were impacted by the alert level two measures put in place […]