Changes to minimum wage rates
From April 2020, the National Living Wage (NLW) and National Minimum Wage (NMW) pay rates will increase as set out below. NLW rates for workers aged 25 and over – from £8.21 to £8.72 per hour. NMW rates: workers aged 21–24 — from £7.70 to £8.20 per hour workers aged 18–20 — from £6.15 to […]
Car Fuel Benefit charge: Pay-back to save tax
At first sight, company car drivers whose private fuel costs are met by their employers may seem to be onto a good thing, but there is a nasty tax hit… Enter, the Car Fuel Benefit charge. Let’s say the following circumstances apply: list price of your car when new was £30,000 your employer pays for […]