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As we step into 2025, it’s crucial to stay on top of key tax dates to keep your financial affairs in order. Here’s a friendly reminder of the important tax deadlines this year.
Discover the suggested reimbursement rates for employees’ private mileage using their company car.
It is that time of year again for staff parties and annual functions, so it is important to make sure you record it properly.
The legislation to abolish the 1.25 percentage point increase in the rate of National Insurance Contributions (NICs) paid by workers, employers and the self-employed was already in progress when the U-turns were being made.
In his Fiscal Statement delivered on 23 September 2022, the previous Chancellor, Kwasi Kwarteng, introduced a Growth Plan including the tax cuts promised by Liz Truss in her Conservative Party leader campaign.
Firstly, thank you from the whole team, to our clients who donated this weekend to the Royal Manchester Children’s Hospital, and a big congratulations to the team members
The Chancellor has confirmed that the government will not proceed with abolishing the 45% income tax rate as first announced in the fiscal event of 23 September 2022. There has been a lot of changes since then.
In the March 2021 Budget, Rishi Sunak announced that the rate of corporation tax would increase to 25% from 1 April 2023 where a company’s profits exceeded
The £1 million Annual Investment Allowance has now been made permanent. You can claim capital allowances when you buy assets that you keep to use in your business, for example:
The Government has announced two changes to the tax advantaged Company Share Option Plan scheme. There is currently a maximum employee share option limit based on market value at grant of £30,000.
The much criticised “off-payroll” working rules were introduced for the public sector from 6 April 2017 and then extended
The Government is in discussion with 38 local authority areas in England to set up ‘Investment Zones’ in specific sites within their area.
Many director/shareholders of family companies pay themselves a small salary and take the rest of their “pay” in a dividend.
It was on 7 September 2021 that we first heard about a new 1.25% Health and Social Care Levy, imposed on employers, employees and the self-employed,
On 23 September 2022, Kwasi Kwarteng, the new Chancellor (the fifth in as many years) delivered a Tax Cutting “Fiscal Event” or Mini-Budget to help boost economic growth.
The first announcement of the new Prime Minister, Liz Truss, was a plan to freeze energy prices for two years at £2500 for the average home.
In response to a recommendation by the Office of Tax Simplification the Government have introduced draft legislation for inclusion in Finance Bill 2023 that extends the no gain/no loss rule when a couple separate.
The changes to the basis of assessment of self-employed profits are scheduled
There continues to be poor take-up of the Government’s Tax free Childcare Accounts which provide a 25% subsidy towards the cost of childcare.
The HSE advice has recently changed, and employers must now carry out an individual risk assessment for pregnant workers and new mothers.
With ever-increasing supplier prices, a rise in interest rates and a looming recession, managing your business’s cash and understanding
Households need to brace for a prolonged period of high inflation and further interest rate rises. The Governor of the Bank of England, Andrew Bailey, has warned that he will take forceful action to tackle inflation,
A need for additional income is motivating people to start their own businesses. As UK inflation hits a 40-year high of over 9%, more and more people are starting their own businesses.
HMRC are currently consulting on the precise details of what needs to be reported each quarter. As expected, it seems the accounting software will need to record and report