Specialist Tax Regulatory Materials
HMRC has published pension schemes newsletter 150.
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
Classes of NIC and who pays themClass 1 NICClass 1 NIC is payable on earnings paid to an employed worker which derive from, or are treated as deriving from, an employed earner鈥檚 employment in the UK. There are two kinds of Class 1 NIC, primary contributions for which the employee is liable and
Enterprise management incentive schemesWhat is an enterprise management incentive (EMI) scheme?The enterprise management incentive (EMI) scheme is a tax-advantaged share option employee incentive scheme aimed at small entrepreneurial companies that meet certain conditions. It is designed to assist
First year allowancesFirst year allowances (FYAs) are available on the following items:鈥irst-year relief on qualifying new main rate plant and machinery (at 100%, which is described by HMRC as 鈥榝ull expensing鈥�) and special rate assets (at 50%) from 1 April 2023 (companies only). These FYAs were
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