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Top Knights Lowe News

Jobs 'not entitled' to National Minimum Wage - from directors to apprentices
Minimum Wage · United Kingdom

Jobs 'not entitled' to National Minimum Wage - from directors to apprentices

Coverage: 2 sources
UK citizens are advised to use the Government's minimum wage calculator to verify if they are earning the National Minimum WageSee the Story
Class 2 NICs – The hidden issue affecting self-employed taxpayers
United Kingdom · United Kingdom

Class 2 NICs – The hidden issue affecting self-employed taxpayers

Recent changes to Class 2 National Insurance contributions (NICs) were meant to simplify things for self-employed taxpayers. Instead, some are facing confusion, incorrect charges, and silence from HM Revenue & Customs (HMRC). The rule change that caused the problem From the 2024/25 tax year, most self-employed individuals no longer needed to pay Class 2 NICs, provided their profits were above £6,725. Instead, HMRC now automatically credits these…See the Story

Savers Urged to Act Now on Tax Due on Interest

Those who have earned interest on their savings are being urged to act now and contact HMRC if they’ve not yet received a letter from the tax authority. Thousands of savers are putting themselves at risk of fines by not declaring owed tax on interest from savings. According to the Association of Taxation Technicians (ATT), recent estimates show that an additional 893,000 taxpayers will have to pay tax on their savings by 2028 to 2029 due to froz…Taxes · United KingdomSee the Story

Use Making Tax Digital for Income Tax

Guidance for sole traders, landlords, and agents to sign up early to use HMRC's new way to report self-employment and property income and expenses for the tax year 2025 to 2026.United Kingdom · United KingdomSee the Story

Two colds, one claim? What you need to know about linked sickness for SSP

Think an employee’s second sick day is just like the first? Not always. If someone goes off sick more than once in a short period, your payroll team might need to treat it as one continuous episode. This is a rule known as linked periods of sickness. If you get it wrong, you might pay too little, too late, or not at all. What makes two absences ‘linked’? The employee must be off at least four days in a row each time. The gaps between those abse…England · EnglandSee the Story

Two Thirds of Platforms Failing to Provide Holistic CGT Support for Advice Firms - IFA Magazine

Research published today by tax reporting experts FSL, shows more than two thirds of platforms are not providing advisers with holistic CGT planning support, despite it being an issue they’re grappling with daily.    Fewer than a third of platforms provide tax tools that enable advisers to include off platform assets in their financial plans for clients.  This is despite more than one in four advisers (27%) viewing this as important functionalit…TaxesSee the Story

Company car VAT – Avoiding mistakes when applying the fuel scale charge

From 1 May 2025, HM Revenue & Customs (HMRC) reduced its road fuel scale charges, reflecting a drop in fuel prices. Businesses using company cars will see a cut of nearly six per cent across most bands, with new rates applying to VAT periods starting on or after that date. Although the revised rates may result in marginal savings, they also highlight the importance of applying the fuel scale charge correctly. Getting the fuel scale charge wrong …England · EnglandSee the Story

Mandatory benefit in kind payrolling date pushed back

The Government has confirmed that the compulsory inclusion of benefits in kind (BIK) and taxable expenses in payroll will now take effect from April 2027. This deferral offers employers more time to review their internal processes and address any inconsistencies in benefit reporting. Current BIK reporting relies on a mixed approach Employers currently have the option to payroll certain benefits if they register with HM Revenue & Customs (HMRC) i…United Kingdom · United KingdomSee the Story

HMRC warns you can't claim tax refunds online in these two cases - Liverpool Echo

Coverage: 2 sources
A customer was frustrated to learn they couldn't claim their cash back onlineLondon, England · LondonSee the Story

HMRC launches new online interactive help for compliance checks - IFA Magazine

Businesses and individuals can benefit from HM Revenue and Customs’ (HMRC’s) new online interactive tool that guides them through tax compliance checks.  The Interactive Compliance Guidance tool available on GOV.UK provides information to help customers understand:   ·         HMRC compliance checks   ·         Why HMRC has requested specific information or documents  ·         How to request extra support due to health or personal circumstances…Freelancers · United KingdomSee the Story

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