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What is the P11D & P11D(b) submission deadline 2023/24 | Reporting expenses and benefits to HMRC

At the end of each tax year, as an employer you must provide HMRC with details about any employee or director to whom you have provided: expenses paymentsbenefitsfacilities

12 Jun 2024 Read more
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How do I Report a Scam to Companies House? | Companies House Scam Warning Letter

Companies House have released a warning to users saying that they have received multiple reports of people receiving letters claiming to be from Companies House. The letters claim that the user is required to pay for ‘enhanced web filing access’.

22 May 2024 Read more
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Tax Diary May 2024

Important tax year dates and deadlines are coming in May.

15 Apr 2024 Read more
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Academies accounts direction for 2023 to 2024 | What are the key changes

The Academies Accounts Direction 2023 to 2024 has now been published for academy trusts preparing their annual report and financial statements for accounting periods ending on 31 August 2024.

15 Apr 2024 Read more
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How does the EMI scheme work? | Enterprise Management Incentives scheme

The use of enterprise management incentives scheme (EMIs) can help small growing companies to attract and retain employees. The enterprise management incentives scheme allows employees to buy shares free of income tax and NICs based on the difference between the amount paid for shares when an option is used and the actual value (provided the shares are purchased for at least the market value they had when the option was granted).  

15 Apr 2024 Read more
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What are the off-payroll working rules? | What does off-payroll working rules IR35 apply mean?

The rules for individuals providing services via an intermediary such as a personal service company (PSC) are complex. The rules apply if the worker who provides services to a client through their own intermediary would have been an employee if they were providing their services directly to that client.  

15 Apr 2024 Read more
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How do I claim tax relief on my private pension contributions? | Claim tax relief on private pension contributions

You can usually claim tax relief on private pension contributions worth up to 100% of your annual earnings, subject to the overriding limits. Tax relief is paid on pension contributions at the highest rate of income tax paid.

15 Apr 2024 Read more
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What is the annual investment allowance? | Tax relief on business assets in 2024

The Annual Investment Allowance (AIA) is a generous tax relief that allows for the total amount of qualifying expenditure on plant and machinery business assets to be deducted from your profits before tax.

15 Apr 2024 Read more
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Tax Diary April 2024

Important tax year dates and deadlines are coming in April. 

20 Mar 2024 Read more
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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. 

20 Mar 2024 Read more
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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

20 Mar 2024 Read more
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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.  

20 Mar 2024 Read more
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