Anna’s Accountancy Alerts – Week 51 (18th – 24th March 2024)

Accountancy Alerts

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Workplace Pension Duties

The Pensions Regulator (TPR) monitors all employers, big and small, to make sure staff receive the pensions they are due.  Employers should make sure they stay on top of their workplace pension duties. 

Automatic enrolment is a continuous responsibility.  As well as monitoring the ages and earnings of staff and paying contributions, employers must also carry out re-enrolment duties including the duty to re-declare, every three years.

Employers should read TPR’s ongoing duties on The Pensions Regulator Website, and those supporting employers with their duties should look at TPR’s information for advisers.

Childcare Choices available

Thousands of families could be saving money on their childcare costs but might not know the support they are eligible for.

The Childcare Choices website brings together the existing childcare offers in one place, so parents can get the help that fits their family.  This could be Tax-Free Childcare, 30 Hours Childcare, or Universal Credit for Childcare.  Some families might be eligible to use more than one childcare offer together and get the most out of it.

From April 2024, eligible working parents in England with children aged 2 will have access to 15 hours childcare.

From September 2024, the 15 hours childcare offer will be expanded to eligible working parents in England with children between 9 and 23 months old.

Getting your tax return right

Making a mistake was the biggest worry of 33% of the 508 taxpayers submitting a return who Which? Money surveyed in October and November. It was obvious that there was widespread misunderstanding that could lead to mistakes (see below) and fines.

  • You can claim work travel expenses for your commute to work

False51% got this wrong

  • You have to send HMRC proof of every expense claimed

False62% got this wrong

  • You can’t change a tax return after it has been submitted

False – 40% got this wrong

Stay Up-To-Date With Coronavirus & Brexit News

Coronavirus has affected us all. Whether you’re a sole trader, employer or employee. Stay up to date with the latest news – including government support, tax implications, and more.