Business News
Dividend rates reduced from 2023/24
Many director/shareholders of family companies pay themselves a small salary and take the rest of their “pay” in a dividend.
October 3, 2022
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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.
Please see below for the diary of main tax events for September/October 2022. If you have any further questions, please do not hesitate to speak to us.
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 figures in the table below are the HMRC suggested reimbursement rates for employees’ private mileage using their company car from 1 September 2022.
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.
Find below our diary of main tax events August/September 2022. If you need further guidance or support on meeting these deadlines, our team our here to help.
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
Making Tax Digital (MTD) for VAT has been with us since April 2019, with the extension to all VAT registered businesses from April 2022.
In recent years HMRC have identified and successfully challenged a number of spurious claims for Research and Development
In the increasingly competitive jobs market, it is important that employers are able to attract and retain talented people to help them grow their business.
The Plastic Packaging Tax (PPT) was introduced on 1 April 2022. If you manufacture or import plastic packaging into the UK, you may need to register for PPT, submit a PPT return and pay any tax due.
The VAT rules are becoming increasingly complex and businesses need to ensure that the correct rate is applied to the goods and services they supply.
Companies House incorporate and dissolve limited companies. They register company information and make it available to the public.