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IR35 changes – Are you ready?

With 6 April 2021 quickly approaching, the IR35 reforms are now back on the agenda and fast becoming a priority. Affected businesses need to have their implementation process in place before the IR35 reforms take effect. IR35 is designed to ensure that appropriate income tax and national insurance contributions (NICs) are paid by contractors who … Continue Reading

UK Regulations Amending PAYE Treatment of Post P45 Payments

This post was written by Fionnuala Lynch. From 6 April 2011 the PAYE treatment of termination payments to an employee after a P45 has been issued will change. Any employers considering the timing of any imminent dismissals should consider whether it may be better to enter into any compromise agreement or other termination agreement before the … Continue Reading

UK tax implications for settlement payments in cases of discrimination – recent developments

Two recent cases give guidance on the tax treatment of settlement payments on termination of employment. A First-tier Tax Tribunal has, for the first time, laid down the correct approach to apportioning a settlement payment which is to compensate an employee for both discrimination and termination of employment. It was decided in Oti-Obihara v. HMRC that the … Continue Reading

UK Emergency Budget 2010 – Newsflash

The Emergency Budget announced by the Chancellor yesterday contained a number of measures (such as income tax, national insurance and pensions) which will be relevant to all UK employers. Fionnuala Lynch, counsel in the Reed Smith UK tax department has produced a summary of the key measures, with particular emphasis on the proposals affecting business … Continue Reading
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