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Where do your tips go?
Many of us will have experienced good and bad service in restaurants or hotels and wondered who actually received the service charges added to bills.
High risk and all eggs in one basket
The “boomer” population was used to the idea that you could have a job for life. That loyalty to your employer, and their ability to
More corporate red tape
We are still waiting for the government to introduce secondary legislation that will oblige directors and others with significant control – so-called PSCs – to
New employment protections
The following changes were enacted from 6 April 2024. These changes apply to England, Wales and Scotland. Northern Ireland is not included as employment law
Opening up small company reporting
Companies House are working on detailed changes that will require small and micro sized companies to file information about their turnover and profits at Companies
Boost for small businesses
In a recent press release, HMRC underlined the benefits to smaller businesses from the increase in the VAT registration threshold and the business rates freeze.
A new acronym
Most readers of our posts will recognise the acronym CGT or IHT -Capital Gains Tax or Inheritance Tax. And the myriad of other taxes that
Tax Diary April/May 2024
1 April 2024 – Due date for corporation tax due for the year ended 30 June 2023. 19 April 2024 – PAYE and NIC deductions
Still time to register for the Marriage Allowance
There is still time to register for the marriage allowance before the current tax year ends on 5 April 2024. The marriage allowance applies to
Check your National Insurance record
There is an online service available on HMRC to check your National Insurance Contributions (NIC) record online. The service is available at https://www.gov.uk/check-national-insurance-record In order
HMRC helpline changes on hold
HMRC has been forced into an embarrassing climbdown on plans to close the Self-Assessment, VAT and PAYE helplines from early April until September this year.
Underlining planning options for FHL owners
If you read our post of last week, Property Tax Changes, you will be aware that the Chancellor recently confirmed – as part of his
Journey out of debt
Hopefully, this post will be of help to individuals that find themselves in debt and are struggling to keep up with repayments. It’s interesting to
Is this a good time for property owners?
The recent Spring Budget did little to make the life of those letting, buying or selling property any easier. For example: The reduction in the
Stand out from the crowd
It’s interesting to consider the challenges that are plaguing small businesses at present. For example: A frustrating inability to reestablish profit levels to fund investment
Self Assessment Tax Returns Tips: Mastering Efficiency
Key Highlights Understand the deadlines for submission and organize your financial documents early Be aware of allowable deductions and utilize tax return software for accuracy
Child Benefit claw-backs
One of the more impactful changes in the recent budget was the easing of the High Income Child Benefit Charge. Up to 5 April 2024,
Save on Easter child-care costs
HM Revenue and Customs (HMRC) issued a press release recently reminding working families to save money on their childcare costs in time for the school
Companies House introduces changes
As we have mentioned in previous posts, Companies House have been tasked with introducing a number of changes introduced by the Economic Crime and Corporate
Impact of the Spring Budget 2024
We all knew that the Chancellor would have restricted options when considering the contents of his recent spring budget announcement on 6 March. But it
Tax Diary March/April 2024
1 March 2024 – Due date for Corporation Tax due for the year ended 31 May 2023. 2 March 2024 – Self-Assessment tax for 2022-23
File early to have self-assessment tax coded out
The coding out threshold may entitle you to have tax underpayments collected via your tax code when you are in employment or in receipt of
Reporting employee changes to HMRC
There are rules that businesses must follow when they are reporting employee changes. These changes must be sent to HMRC using a Full Payment Submission
Eligibility for the VAT Flat Rate Scheme
The VAT Flat Rate scheme is open to VAT registered businesses that expect their taxable turnover in the next 12 months to be no more
Beware fake tax rebate offers
HMRC continues to warn of the ever-present problem of fraudulent phishing emails, suspicious phone calls and texts. These unwanted emails, phone calls and texts are
Budget summary 6 March 2024
As expected, the Chancellor has found wriggle room in his fiscal rules that have allowed him to please his fellow Conservatives by reducing the impact
New measures to trim energy bills
Government has announced a new package of measures to help families save on energy costs and access cheaper deals as figures published recently show energy
Are you missing out on the Marriage Allowance?
According to HMRC, couples who are married or in civil partnerships could be due a financial boost by sharing unused tax allowances. HMRC has revealed
Government backtracks on Double Cabs Pickups
This update is only with reference to DCPUs with a payload of one tonne or more. DCPUs with a payload of less than one tonne
Skills Bootcamps
Skills Bootcamps help you develop new skills that employers are looking for. They are a great opportunity to train in a new industry or progress
Self-Assessment tax returns 2023-24
We have just passed the filing deadline for the 2022-23 tax year, and any 2022-23 returns filed after 31 January 2024 will be subject to
Timing in business is everything
In a previous blog post we outlined the importance of reviewing your income before the end of the current tax year. The message was a
Support for thousands of pubs
More than 38,000 pubs will benefit from the six-month freeze on alcohol duty from 1 February 2024. According to HM Treasury: The great British pub
Keep an eye on your income for 2023-24
As you are probably aware the 2023-24 tax year ends on 5 April 2024. After this date, most of the opportunities to arrange your tax
Powers of Attorney Act receives Royal Assent
Reforms to simplify and streamline lasting powers of attorney are given Royal Assent. These legal agreements enable a person to grant decision making powers about
State Pension entitlement if you retire abroad
You can claim State Pension abroad if you have paid enough UK National Insurance contributions to qualify. To make a claim you must be within
Tax Diary February/March 2024
1 February 2024 – Due date for Corporation Tax payable for the year ended 30 April 2023. 19 February 2024 – PAYE and NIC deductions
Do you need to register for self-assessment?
There are a number of reasons why you might need to complete a self-assessment return. This includes if you are self-employed, a company director, have
Year end payroll reporting
It is not that long until the current 2023-24 tax year comes to an end and there are a number of year end payroll chores
National Insurance and tax after State Pension Age
If you have reached the State Pension age and continue to work, in most cases, you no longer need to pay National Insurance Contributions (NICs).
Spring Budget 2024
The Chancellor of the Exchequer, Jeremy Hunt has confirmed that the next UK Budget will take place on Wednesday, 6 March 2024. This will be
Digital labelling of imports
Businesses are set to benefit from savings as import labels are made digital for the first time. New legislation to introduce digital labelling for British
Update on Companies House changes
Looks like Companies House is morphing from passive registrar into a monitoring agency for the government. Changes that are likely to impact the business community
Red Sea disruption to supply chains
The Department for Business and Trade (DTI) has launched the Critical Imports and Supply Chains Strategy to safeguard the UK supplies of critical goods such
Spread the cost of tax payments
None of us has been exempt from the effects of inflation and cost of living issues in the past year. Which is why taxpayers who
Tax reminder for crypto asset users
With use of crypto assets growing, HM Revenue and Customs (HMRC) is urging people to avoid potential penalties and check if they need to complete
More news on the Horizon saga
Since the recent ITV airing of the Post Office sub-postmasters confrontation with the Horizon accounting software, a flurry of support for the affected individuals have
Beware rogue business rates agents
The Valuation Office Agency (VOA) is warning business owners to avoid taking advice from agents who approach them to reduce their business rates bills. According