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March 2024

Tax Diary April 2024

Important tax year dates and deadlines are coming in April. 

How much does it cost to file a confirmation statement? | 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. 

Capital Gains Tax on UK Residential Property | Report and pay capital gains tax on uk 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 band. In the Spring Budget, the Chancellor announced a reduction in the higher rate of capital gains tax that exists for residential property from the current rate of 28% to 24% from 6 April 2024. These rates apply to higher rate taxpayers as well as to trustees and personal representatives. The lower rate that applies to basic rate taxpayers will remain unchanged at 18

What does the 2 National Insurance cuts mean for me? | National Insurance cuts for employees and Self-Employed

Our last National insurance blog listed the expected national insurance contribution rates for 2024; however, from what has recently been changed in the Chancellor’s Spring Budget for 2024 As had been widely expected, the Chancellor announced further changes to National Insurance contributions (NIC) rates for employees and the self-employed.  

Do you have to register with HMRC if you are self-employed? | How to register as self-employed

Self-employed taxpayers should notify HMRC as soon as practicable when they begin working for themselves. HMRC must be officially notified by 5 October following the end of the tax year so that a self-assessment return can be issued on time and to avoid any unnecessary penalties.

Spring Budget 2024 Recap

Following widespread speculation of tax cuts, with Child Benefit and National Insurance being key topics, the Chancellor of the Exchequer (Jeremy Hunt) delivered his Spring Budget today, focusing on tax cuts for workers and parents.