News

The Chancellor, Jeremy Hunt, delivered the UK Spring Statement on 6th  March 2024. What do you need to know about the announcements? Here is a summary of the key points announced, that are likely to have an imapct for you: …

HMRC is getting cannier at detecting and penalising people who make extra income but don’t declare it. And in 2024 they are set to clamp down on sellers flogging their pre-loved items through sites such as Etsy, Depop, eBay and Vinted. Will …

Historically, you may have had to file a tax return if your income exceeded the point where the personal allowance starts to be tapered away. This has changed for 2023/24 and  a further change will apply from 2024/25. What’s the …

The Chancellor of the Exchequer, Jeremy Hunt, presented his 2023 Autumn Statement to Parliament on 22nd November 2023. What key changes were announced and how will they impact you? Income tax No changes National Insurance The main rate of employee …

HMRC has launched an online application process for VAT time to pay arrangements. Is this option available for your business? ********************************* Eligible businesses no longer need to call HMRC and plead for, or justify, an extension to their VAT payment …

HMRC telephone lines are being closed, due to staff shortages. How will this imact you?  And what can you do if you have queries? ********************************* Self-Assessment HMRC’s self-assessment helpline (0300 200 3310) will be unavailable from 12th June until 4th …

You may experience difficulty or severe delays contacting HMRC’s helplines over the next few weeks, with several strikes planned. What are the scheduled dates, and how else might you resolve queries? ********************************* HMRC helplines are already under huge pressure. One …

Rates and Thresholds in 2023/24 The tax year runs from 6th April 2023 to 5th April 2024 and as always there have been some tweaks to the bands and thresholds. What impact will it have on you? National Insurance (NI) …

With only a few days left in the current tax year, as a company directors that’s enough time in which you can improve your income tax efficiency. What steps should you be taking to achieve this? Two-step plan Because of …