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Employee third party debt and pecuniary liability

Pecuniary liability

Pecuniary liability principle

Under the pecuniary liability principle, where an employer settles a personal bill on behalf of an employee, whether Class 1 or Class 1A NIC are payable, depends on the way the bill is settled.

If the contract is with the employer and the employer pays directly to the supplier, PAYE cannot be operated and therefore it is reported on form P11D as a…

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HMRC Writes to Flat Rate Scheme Traders

flat rate

Warning about the new limited trader rate

HMRC has started writing to all those currently using the flat rate scheme (FRS) due to the introduction of the new 16.5% VAT flat rate applicable to businesses with limited costs, such as labour-only businesses,

The legislation

A limited trader will be defined as one whose VAT inclusive expenditure on goods is either:

  • less than 2%…

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IR35 Download
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Going Limited
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Qdos Accounting