As the end of the tax year approaches, it is prudent to review your pension contributions for the year and consider whether it is worth making further contributions before 6 April 2024. Remember, any annual allowances brought forward from 2020/21 will be lost if not used by this date. The amount of tax-relieved contributions that […]
Making pension contributions before 6 April 2024 Read More »
As the end of the tax year approaches, it is prudent for those operating their business as a personal or family company to review the profits extracted so far in the tax year and to consider whether it is beneficial to take further profits before the end of the tax year. There are various ways
Extracting Further Profits As The 2023/24 Tax Year Draws To A Close Read More »
From 1 April 2025, the rates of Theatre Tax Relief (TTR), Orchestra Tax Relief (OTR) and Museums and Galleries Exhibition Tax Relief (MGETR) will be permanently set at 40% (for non-touring productions) and 45% (for touring productions and all orchestra productions). The government will remove the sunset clause for MGETR so that it becomes a
Yesterday, the chancellor announced his spring budget.There is a lot to digest and unpick. With a general election looming, it was clear that thechancellor had decided to put more money back into the pockets of working people.However, not much of this money directly comes to small business owners .Let’s start with the good news: National
The Spring Budget 2024 Read More »
The impact on you and your staffYou will need to ensure that all staff members are paid the increased minimum wage for their age group by this date. How much is the increase?See below for details of the updated Minimum Wages to take effect from 1 April 2024. Apply 23 and over 21 to 22
The National Minimum Wage will increase from 1 April 2024. Read More »
Changes to National Insurance Contributions: The government is cutting taxes for over 29 million working people. Note that this tax cut wouldn’t stop more people from going into higher rate tax bands as wages rise. But these will help employees and self-employed people have a little more money in their pockets. The changes they are
The Autumn Statement In A Nutshell Read More »
Running a successful business is rewarding, but let’s face it, nobody loves paying taxes. If you’re a UK business owner, you’re probably aware of the corporation tax charged on your company’s profits. But did you know there are legal ways to reduce your corporation’s tax bill? In this article, we’ll discuss five smart ways to
5 ways to reduce corporation tax Read More »
More than 77,500 customers submitted their 2022 to 2023 tax returns on 6 April 2023 according to the HMRC. The early filing does not mean early payment Choosing to file your tax return early does not mean you have to pay HMRC straight away. The 31 January deadline for payment remains unchanged. You have until 31
File Your Tax Return Now!! Read More »
The new tax year started on 6 April 2023. You may already have been sent a tax code for the year from HMRC. So what is a tax code, how does it work and is it correct? There’s a great resource here to have a look https://clicks.moneysavingexpert.com/f/a/b1HuDFjZ-fT1uShXrEA05Q~~/AAAHagA~/RgRmGDKLP0T0aHR0cHM6Ly93d3cubW9uZXlzYXZpbmdleHBlcnQuY29tL2ZhbWlseS9jaGVjay10YXgtY29kZS8_dXRtX3NvdXJjZT1NU0VfTmV3c2xldHRlciZ1dG1fbWVkaXVtPWVtYWlsJnV0bV90ZXJtPTExLUFwci0yMy03NmUwOTg4NGZiYjRlZWRiYjFhLTY0MzVhYWMwNzdiNDU0MzIwODY3YzQ0NTkzMTlkN2ViJnNvdXJjZT1DUk0tTVNFVElQLTc2ZTA5ODg0ZmJiNGVlZGJiMWEmdXRtX2NhbXBhaWduPW50LWhpeWEmdXRtX2NvbnRlbnQ9NFcFc3BjZXVCCmQti601ZJ_Rl4pSEWNyYWlnQHotZS1uLmNvLnVrWAQAAADy
New Tax Year New Tax Code? Read More »
