One of the most often asked topics by both companies and employees is whether severance and redundancy pay are equivalent. In some ways, they are similar, as both give financial recompense to workers when their employment ends. However, there are significant differences between the two that must be understood. Understanding the distinction enables organizations to … Read more
In today’s workplace, benefits in kind (BIK) have become an important part of employee remuneration packages. These non-cash benefits, which range from company automobiles to private health insurance, not only increase the value of employees’ overall compensation but also provide significant tax benefits to companies. For example, firms can skip the time-consuming procedure of filing … Read more
IR35, formerly known as the Intermediaries Legislation, significantly impacts the contracting and self-employment scene in the UK. IR35, introduced by HM Revenue and Customs (HMRC), aims to guarantee that individuals who act through intermediaries, such as limited businesses, pay the appropriate tax and National Insurance contributions. This regulation has received more attention as the number … Read more
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