Tag: Directors

Shut down of Four companies linked to scheme aiding directors to walk away from debts

Wound-up in the public interest following Insolvency Service investigations Four companies have been shut down after investigations revealed they were connected to a scheme which helped directors sell struggling businesses for £1 while keeping assets and dropping debts The scheme’s operators failed to preserve accounting records or assess what had happened to the more than … Continue reading Shut down of Four companies linked to scheme aiding directors to walk away from debts →

Employer Bulletin: October 2025

HMRC publishes the Employer Bulletin 6 times a year, giving employers and agents the latest information on topics and issues that may affect them.  Some of these topics have already been covered by PAYadvice.UK in articles and blogs and further articles and blogs may now additionally be published. The October edition of Employer Bulletin includes … Continue reading Employer Bulletin: October 2025 →

Companies House identity verification rollout from 18th November 2025

…phasing in identity verification over 12 months to make things simpler for companies and business owners Companies House (CH) confirms that from Tuesday 18th November 2025, legal requirements for directors and people with significant control (PSCs) of companies to verify their identities will begin. From 18th November 2025: new directors will need to verify their … Continue reading Companies House identity verification rollout from 18th November 2025 →

More than 1,000 directors disqualified in 2024-2025

The latest statistics for Insolvency Service enforcement outcomes… outline Covid loan abuse and bankruptcy restriction orders. More than 1,000 directors disqualified following Insolvency Service investigations.   Of these, 736 were banned for Covid loan abuse.  The report also highlights the average length of a ban was eight years.   The Insolvency Service enforcement outcomes report for … Continue reading More than 1,000 directors disqualified in 2024-2025 →

Tax Avoidance promoters – the list keeps growing – now over 120+

The image of the umbrella is significant as many of the named tax avoidance and those issued with official stop notices are umbrella organisations. Some even operate across the public sector. The workers are not all high paid, and the resulting tax bill for tax not paid on what is earnings, wages, employment income, can … Continue reading Tax Avoidance promoters – the list keeps growing – now over 120+ →

Help protect workers from getting caught out by tax avoidance 

As part of the October 2024 Employer Bulletin, HM Revenue and Customs (HMRC) are asking employers to to assist with protecting workers from getting caught using tax avoidance schemes which do not work. The HMRC tax avoidance ‘don’t get caught out’ campaign helps workers such as contractors spot the signs of bad tax advice and understand their … Continue reading Help protect workers from getting caught out by tax avoidance  →

Crack down on late payments to support small businesses – Fair Payment Code

New package of measures aimed at tackling scourge of late payments New Fair Payment Code and fresh rules on company reporting and major consultation unveiled as part of package to tackle late payments Scourge of late payments costs SMEs £22,000 a year with 56 million hours of lost productivity across the economy – acting as … Continue reading Crack down on late payments to support small businesses – Fair Payment Code →

Over 800 directors banned for abusing Covid support 

Tough action taken against directors to tackle Covid loan misconduct 831 company directors banned in 2023-2024 for Covid support scheme abuse, up more than 80% on the previous year The average length of director disqualification for Covid misconduct in 2023-2024 was almost 10 years During 2023-2024, a total of 831 directors were banned for Covid … Continue reading Over 800 directors banned for abusing Covid support  →

What’s going on with Directors National Insurance

So here we are again, the end of another UK tax year! At PAYadvice.UK we are seeing a high number of directors National Insurance Contributions questions and challenges! So what is going on in March 2024? Directors annual period Directors are classed as employees and pay National Insurance on annual income from salary and bonuses … Continue reading What’s going on with Directors National Insurance →

Six-year ban for boss who employed illegal workers

The owner of a Cumbria pizzeria and takeaway has been banned as a company director for six years after hiring two illegal workers. Dondu Ozmicco hired two illegal workers without conducting right-to-work checks at the pizzeria in Cumbria The workers were found during a visit from Immigration Enforcement, who handed the business a £20,000 fine … Continue reading Six-year ban for boss who employed illegal workers →

6th Jan 2024 NI cuts – are you ready

At the Autumn Statement 2023 held on 22nd November, a 2% cut in the standard rate of National Insurance was announced with the rate dropping from 12% to 10% effective for payment due from 6th January 2024. If National Insurance is considered a tax, this means a £450 annual tax cut for the average worker … Continue reading 6th Jan 2024 NI cuts – are you ready →

National Insurance change for directors – are you ready

As a result of the Autumn Statement reduction in NIC standard rates by 2% from 12% to 10%, employees will benefit from a cut in National Insurance for payments from 6th January 2023. Directors NI is different to those of employees. To avoid various NIC avoidance measures being applied by directors and their remuneration from … Continue reading National Insurance change for directors – are you ready →

NI reduction bill presented

Following the Autumn Statement 2023 held on Wednesday 22nd November, As promised by Chancellor, the government have laid a bill to cut National Insurance from 6th January 2024. It is claimed that the average employee will save up to £450 next year. ‘Just one part of the biggest package of tax cuts to be implemented … Continue reading NI reduction bill presented →

New information hub for company directors launched to help make the right decisions at the right time

The Insolvency Service has launched a new online information hub to support company directors on Monday 10th July 2023. The hub hosts guidance and information on a range of business themes commonly faced by companies and aims to help company directors to push their business forward by being more aware of potential pitfalls. It is specifically … Continue reading New information hub for company directors launched to help make the right decisions at the right time →

Autumn Statement 2022

Dear PAYadvice.UK, The Chancellor of the Exchequer, the Rt Hon Jeremy Hunt MP, made his Autumn Statement speech. The Chancellor set out the government’s plan to put public spending on a sustainable footing and get debt falling, while protecting vital public services and prioritising the needs of the most vulnerable. Full details are set out … Continue reading Autumn Statement 2022 →

Directors banned for abusing dissolution process

Directors disqualified under new powers to tackle directors from dissolving companies and walking away without paying their debts. The four directors were disqualified after they all secured bounce back loans before dissolving their companies to avoid paying their liabilities back. In the most recent case, Sirfraz Ahmad, from Leeds, was disqualified for 10 years after … Continue reading Directors banned for abusing dissolution process →

Umbrella company director banned

Best Employment Services provided umbrella payroll services and outsourced its operations to a network of Isle of Man companies, and shifted assets to Anguilla. Adrian Benedict Sacco 55, has been disqualified after running an umbrella payroll services company with links to the Isle of Man, potentially costing the public millions in unpaid income tax, National … Continue reading Umbrella company director banned →

Dividend tax increase April 2022

Since April 2016, the rates of Income Tax applicable to dividend income have been 7.5%, 32.5% and 38.1% for basic, higher and additional rate taxpayers respectively. Any individual who has dividend income can benefit from the dividend allowance which has been set at £2,000 since April 2018. Dividends within the allowance are not charged to … Continue reading Dividend tax increase April 2022 →

Improperly obtained bounce-back loan

The traffic commissioner for the West Midlands, Nick Denton, recently held a public inquiry into Mafuwer Logistics Ltd. The company was granted a standard international licence for three vehicles in December 2020. The traffic commissioner found that almost all of the company’s financial resources had been provided by a £50,000 bounceback loan (BBL) in May … Continue reading Improperly obtained bounce-back loan →

Health and Social Care Levy – Dividends

From next April the government will create a new, UK-wide, 1.25 per cent Health and Social Care Levy with dividends tax rates increasing by 1.25% points.. By increasing dividends tax rate the government is asking better-off business owners and investors to make a fair contribution. Dividend tax is charged on taxable dividend income an individual … Continue reading Health and Social Care Levy – Dividends →

Payroll boss in tax avoidance scheme 11-year ban

Leicester payroll services boss banned for orchestrating multi-million pound tax avoidance scheme, while failing to justify £37 million expenditure in 11 months Scott Rooney, of Leicester, was appointed sole director of Magnetic Push Limited in February 2017. The company provided payroll services, trading from a serviced office in Liverpool, and was previously known as The … Continue reading Payroll boss in tax avoidance scheme 11-year ban →

CA38/CA40/CA41/CA42/CA44 National Insurance contributions tables issued (at last)

For the second year running the HMRC have issued the National Insurance contributions tables very late on 6th April. Traditionally issued in late February, the 2021/2022 tables have been issued on Tuesday 6th April 2021. The fact that pay calculations have been required in preparation for payments in the new tax year seems to no … Continue reading CA38/CA40/CA41/CA42/CA44 National Insurance contributions tables issued (at last) →

Parliamentary question – Directors Income Support Scheme response

HM Treasury responded to a question on COVID-19 assistance for Directors on 22nd February 2021 The question: To ask the Chancellor of the Exchequer, what steps he is taking to progress a directors’ income support scheme package for directors of limited companies? The response was made by Treasury minister Jesse Norman: The Government always welcomes … Continue reading Parliamentary question – Directors Income Support Scheme response →

Northern Ireland – Limited Company Directors Support Scheme

The NI Minister for the Economy has announced details of the Limited Company Director’s Support Scheme, to provide financial support to company directors who have personally been adversely impacted by COVID-19. The scheme, administered by Invest Northern Ireland on behalf of the Department for the Economy, will open to online applications at 6pm on Thursday … Continue reading Northern Ireland – Limited Company Directors Support Scheme →