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  • Duties
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  • Finance
  • Finance stories
  • General
  • HMRC notices
  • Holiday
  • Income Tax
  • Inheritance Tax
  • Managing costs
  • National Insurance
  • NIC & Pensions
  • Overseas Corporate tax issues
  • Overseas personal tax issues
  • Overseas tax issues
  • Payroll
  • Pension
  • Personal
  • Personal tax planning
  • Profit margin
  • Property Investment
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  • Stamp duty
  • Stamp Duty Land Tax
  • Stocks & shares
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  • Tax Diary
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  • Uncategorised
  • Value Added Tax
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Tax Diary April or May 2024
Tax Diary

Tax Diary April/May 2024

1 April 2024 - Due date for corporation tax due for the year ended 30 June 2023. 19 April 2024 - PAYE and NIC deductions ...
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Eligibility for replacement of domestic items relief
Income Tax

Eligibility for replacement of domestic items relief

The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental ...
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Changing a company’s accounting year end
Corporate Governance & Regulation

Changing a company’s accounting year end

There are special rules which limit the ability to change your company’s accounting year end date. A company’s year end date is also known as ...
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Register of Overseas Entities
Corporate Governance & Regulation

Register of Overseas Entities

The Register of Overseas Entities came into force in the UK on 1 August 2022. The register is held by Companies House and requires overseas ...
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Income Tax

Tax on savings interest

If you have taxable income of less than £17,570 in 2023-24 you will have no tax to pay on interest received. This figure is calculated ...
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Income Tax

Still time to register for the Marriage Allowance

There is still time to register for the marriage allowance before the current tax year ends on 5 April 2024. The marriage allowance applies to ...
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Corporate Governance & Regulation

Company confirmation statement changes

As well as filing accounts with Companies House, there is an important requirement to check that the information Companies House has about your company is ...
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General

Tech companies assist with fuel price transparency

Leaders from top comparison sites, RAC and The AA will be among those meeting the Energy Affordability Minister to help share new fuel price data ...
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Business Support

Public sector productivity

In a recent announcement by the Treasury, it was announced that plans are afoot to deliver up to £1.8bn of productivity benefits by 2029. The ...
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Duties

Spring Budget 2024 – Fuel Duty rates

In the Spring Budget, the Chancellor extended the fuel duty cut for a further 12 months to help support households and businesses at a time ...
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Income Tax

Spring Budget 2024 – non-dom changes

In a move that may partly have been prompted by seeking to mirror a longstanding policy of the Labour party, the Chancellor has announced that ...
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Capital Gains Tax

Spring Budget 2024 – CGT on disposals of residential property

A higher rate of Capital Gains Tax (CGT) applies to gains on the disposal of residential property if the gain falls into the higher rate ...
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Excise duties

Spring Budget 2024 – Alcohol and Tobacco Duty

As part of the Spring Budget measures, the Chancellor announced that the duty rates on beer, cider, wine and spirits would be frozen at the ...
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Income Tax

Spring Budget 2024 – High Income Child Benefit Charge

The High Income Child Benefit Charge (HICBC) came into force January 2013 and has applied to taxpayers whose income exceeds £50,000 in a tax year ...
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Value Added Tax

Spring Budget 2024 – VAT registration threshold changes

The taxable turnover threshold that determines whether businesses should be registered for VAT will increase from £85,000 to £90,000 from 1 April 2024. The taxable ...
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National Insurance

Spring Budget 2024 – NIC changes

As had been widely expected, the Chancellor announced further changes to National Insurance contributions (NIC) rates for employees and the self-employed. There will be a ...
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Budget Summary

Budget summary 6 March 2024

As expected, the Chancellor has found wriggle room in his fiscal rules that have allowed him to please his fellow Conservatives by reducing the impact ...
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Business Support

Companies House rolls-out new powers

The first measures under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force on Monday 4 March 2024. Changes introduced include: ...
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NIC & Pensions

Pension fund reforms

The Chancellor announced pension fund reforms as a further step in the government’s plan to boost British business and increase returns for savers. This includes ...
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HMRC notices

Holiday Lets averaging election

The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for tax purposes. In ...
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White woman with dark hair sitting at a desk with a laptop with her head in her hands, dealing with a tax penalties appeal. Behind her there is a bookshelf and on the desk, several pens and sheets of paper.
General

Appeals against tax penalties

It is not unusual for taxpayers to find themselves in a position where they disagree with a tax decision issued by HMRC. There are a ...
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Young man with dark hair and glasses weraing a dark blue shirt, sitting on a white sofa. He is holding paperwork and using a laptop to advise HMRC about his dormant company
Corporate Governance & Regulation

Advise HMRC if company is dormant

If a company has stopped trading and has no other income, then the company is usually classed as dormant for Corporation Tax purposes. A company ...
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Construction Industry Scheme

Contractors and CIS

The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in ...
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Companies House filing fees increase represented by red building blocks getting higher and higher
Corporate Governance & Regulation

Companies House filing fees increase

Companies House has announced that some of their fees will be changing from 1 May 2024. The last change in fees was April 2016. The ...
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Business

Update on the tax status of Double Cab Pick Ups

HMRC had published an update, on 12 February 2024, on the tax status of Double Cab Pick Ups (DCPUs), following a 2020 Court of Appeal ...
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Business Support

A new champion for small businesses appointed

An experienced entrepreneur has taken up a key role to promote the needs of small businesses to government and ensure suppliers seize the benefits of ...
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Business Support

Crack down on ‘fire and rehire’ practices

The Government has announced action to tackle the use of controversial 'fire and rehire' practices. In a press release issued 19 February 2024 they said: ...
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Capital Gains Tax

Letting part of your home

In general, there is no Capital Gains Tax (CGT) on a property which has been used as the family's main residence. This relief from CGT ...
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Business asset disposal relief is being claimed by a white woman in a striped black and white shirt.
Capital Gains Tax

Entitlement to Business asset disposal relief

Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. ...
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Corporate Governance & Regulation

Types of limited companies

A limited company is a company ‘limited by shares’ or ‘limited by guarantee’. Limited by shares This is the most common limited company structure. A ...
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