The cost of living crisis is over? With 10 million people of working age not actively seeking employment; this duo have always been clear that they want to make work pay! The Chancellor repeated the message of low taxes means higher growth; higher wages and living...
It has now been over five years since the anti-money laundering directive which drove the creation of the Trust Registration Service was introduced. Initially the registration was triggered by a tax charge, however the requirements were extended to include trusts...
Key points Employed The Class 1 National Insurance rate will reduce from 12% to 10% with effect from 6 January 2024. Individuals with only PAYE income over £150,000 will not be required to file self-assessment tax returns from 2024/25. Those with a pension annual...
Very simply this is the main method your business will obtain tax relief for items in the balance sheet! When your accounts are prepared, you will notice a section in the balance sheet titled fixed assets. There may be a number of categories contained within this...
It is not uncommon to find companies with a variety of activities being undertaken, or where excess cash has been ploughed into investment opportunities such as property. Towards the end of a company’s life if liquidation is intended, trades can be wound up or sold...
The retitled Entrepreneurs’ Relief has been around since April 2008, but the question of whether it is available to a shareholder or not, is not as straightforward as one would assume. Breaking it down in its basic form: Throughout the period of two years ending with...
Notifications under the Let Property Campaign are continuing to flow through to taxpayers, this is where HMRC believe that rental income has not been correctly reported through Self-Assessment. Where does HMRC get its information from? Connect is the data analysing...
With the second payment on account due at the end of July, this is a useful reminder to firstly file your 2022/23 tax return(!) whilst also considering if you are able to reduce the 2024 payments on account. Payment timeline 31/01/2023 First payment towards the...
With exam season well underway, those wondering whether they can afford to go to university no doubt would advise parents to start saving early. With accommodation at a premium, the cost of living crisis not abating and tuition fees at their highest level yet; this...