This author has yet to write their bio.Meanwhile lets just say that we are proud Lizzie Robinson contributed a whooping 268 entries.
The Bank of England once again increased the base rate on 23 March 2023 – this time by 0.25% to 4.25%. While rising interest rates are good for savers who are able to enjoy a better return on their savings, it may mean that you will need to pay tax on your interest where previously […]
The Chancellor, Jeremy Hunt, presented his Spring Budget on 15 March 2023. There were no changes to the income tax rates and thresholds, which had been announced previously. However, the Chancellor unveiled the successor to the capital allowances super-deduction which ends on 31 March 2023. Key dates The capital allowances super-deduction for companies is replaced […]
The Government has announced the rates of the National Living Wage (NLW) and National Minimum Wage (NMW) which will come into force from April 2023. In doing so, it has accepted in full the recommendations of the Low Pay Commission. By law, employers must pay the National Minimum Wage (NMW) as a minimum. The rate […]
The Chancellor, Jeremy Hunt, presented his Spring Budget on 15 March 2023. There were no changes to the income tax rates and thresholds, which had been announced previously. However, the Chancellor unveiled significant pension reforms. Key dates The pension lifetime allowance is scrapped from 6 April 2023 and the pension annual allowance is increased from […]
Why keeping in touch is important… Business problems you may be facing Here is a summary of the business-related issues that we are currently helping clients manage: Cashflow concerns Meeting debt repayment obligations The impact of rising prices Maintaining profitability Solvency Minimising tax payments Considering an investment in new plant and equipment Restructuring to reduce […]
For working parents, the cost of childcare can be significant. The school holidays often present particular challenges as extra childcare may be needed. This can be prohibitively expensive, particularly during the current cost of living crisis. However, help towards childcare costs may be available via the Government’s tax-free childcare scheme. Please continue to read to […]
Company directors have an annual earnings period for National Insurance contributions. This may necessitate an annual recalculation at the end of the tax year. Key dates When you pay a company director for the final time in the 2022/23 tax year, you will need to tick the relevant box in your payroll software to indicate […]
HMRC have sent ‘nudge’ letters to individuals who they believe have undeclared income from letting holiday homes and short term lets on sites such as Airbnb and Booking.com. Key dates If you have received income from holidays lets you need to tell HMRC about it by completing a self-assessment tax return. The return must be […]
You are able to claim child benefit if you are responsible for bringing up a child under the age of 16, or under the age of 20 where the child stays in approved education or training. However, some or all of the child benefit that you receive may be clawed back by the High Income […]
Class 3 National Insurance contributions are voluntary contributions which an individual can choose to pay to increase their entitlement to the state pension. Individuals who have gaps in their contribution record from 2006/07 to 2015/16 have a limited window in which to take advantage of an extended time limit for making contributions. Key dates The […]
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