Tax on savings interest
If you have taxable income of less than £17,570 in 2023-24 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of the interest is taxable) to the current £12,570 personal allowance. However, it is important to note that if […]
Alcohol duty changes
Changes in the way alcohol is taxed will come into effect from 1 August 2023. The new system of calculating alcohol duty for all alcoholic drinks will be made using standardised tax bands based on alcohol by volume (ABV). This will replace the current alcohol duty system, which consists of four separate taxes covering beer, […]
South Yorkshire first UK Investment Zone
It was announced as part of the Spring Budget 2023 measures that the government would establish twelve Investment Zones across the UK, subject to successful proposals. South Yorkshire has now been named as the first of the UK Investment Zones. These Investment Zones are designed to encourage investment and new economic activity, supporting growth and […]
Tax Diary August/September 2023
1 August 2023 – Due date for corporation tax due for the year ended 31 October 2022. 19 August 2023 – PAYE and NIC deductions due for month ended 5 August 2023. (If you pay your tax electronically the due date is 22 August 2023) 19 August 2023 – Filing deadline for the CIS300 monthly […]
Beat the rush and file your tax return early
The January Self Assessment deadline seems like a long way off, but you don’t have to wait until the last minute to file your return. Self Assessment customers can take advantage of four key benefits when filing early, HM Revenue and Customs (HMRC) has revealed. Filing ahead of time will give customers more control over […]
