There are two ways to consider the effects or benefits of business and personal expenditure.
The payment of rates or utility costs are an essential part of our daily expenditure, but it would be difficult to view them as an investment.
Whereas the
As Christmas arrives the week before the calendar year-end, many of us will enjoy a week’s shut down and have time to relax and enjoy the break with our family and friends.
The break also gives us time to consider our plans, personal and business,
If you are having trouble paying your tax on time you may be eligible to receive support from HMRC by applying for an instalment payment plan. An online payment plan for Self-assessment tax bills can be used to set up arrangements for paying tax
The annual exempt amount applicable to Capital Gains Tax (CGT) is to be halved from April 2024. This means that the exempt amount will be reduced from £6,000 currently, to £3,000 from April 2024. The exempt amount was as high as £12,300 2022-23.
Any
1 January 2024 – Due date for Corporation Tax due for the year ended 31 March 2023.
19 January 2024 – PAYE and NIC deductions due for month ended 5 January 2024. (If you pay your tax electronically the due date is 22 January 2024).
19 January 2024
There are special rules for the provision of living accommodation for employees. In most cases, employees will pay tax on any living accommodation provided by an employer unless they qualify for an exception.
However, where an employee qualifies for
When a new employee is added to the payroll it is the employer’s responsibility to ensure they meet the employee’s rights and deduct the correct amount of tax from their salary.
HMRC’s guidance lists the following requirements that an employer must
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. If you are using this scheme, you should ensure that rents received from lodgers during the current tax year do no exceed £7,500. The tax
A reminder that the main rate of Class 1 Employee National Insurance contributions (NIC) will be reduced from 6 January 2024. This change will see Class 1 NICs reduced by 2% from 12% to 10% in a change set to benefit some 27 million employees.
This
Homes and businesses will be able to install rooftop solar panels more easily, under new rules that were recently announced.
Changes to permitted development rights rules will mean more homeowners and businesses will be able to install solar panels
If you are concerned that an organisation is holding personal information you have a legal right to ask for a copy of the information that they hold about you.
If it is a public organisation, write to their Data Protection Officer (DPO). Their
Employees who working from home may be able to claim tax relief for some of the bills they pay that are related to your work.
Employers may reimburse employees for the additional household expenses incurred if regularly working at home. The relief
The Cost of Living support package has been designed to help over 8 million households in receipt of mean tested benefits. The details for Cost of Living Payments due in the 2023-24 tax year were published earlier this year and have recently been
Pension Credits can provide extra income to those over State Pension age and on a low income. The credits were first introduced in 2003 to keep retired people out of poverty.
Pension Credit can top up:
your weekly income to £201.05 if you are
The normal filing deadline for filing the accounts of a private limited company is nine months after the company’s financial year end. Known as the accounting reference date. For example, many companies have a year-end date of 31 March and are
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