PAYE and NI

Firms that employ more than 250 staff will be obliged to make public figures showing average hourly rates paid to male and female employees under the terms of the new Equalities Bill.

The UK’s smallest firms find it difficult to cope with the demands of employment law, the British Chambers of Commerce (BCC) has said, prompting a call for a three-year moratorium on new legislation.

Businesses that believe they will make a trading loss in the current tax year can ask HM Revenue and Customs (HMRC) to take the anticipated loss into account as part of any rescheduling of their corporation tax or income tax payments.

Over half of employers are intending to freeze wages this year, and 12 per cent are planning to introduce wage cuts, according to a new survey.

A detail in the Budget announcement has revealed that people who earn more than £150,000 a year will have to pay tax on the contributions that their employers make to their company pension schemes.

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