Overlap relief - Claim it or lose it

Some self-employed profits may be taxed twice in the opening years of a business, or on a change of accounting date. Relief for these profits (overlap profits) is given in the form of overlap relief. However, time is running short to benefit…

International Cat Day - 8th August 

Celebrating Feline Charm and Whiskered Wonders: International Cat Day - 8th August  In a world where chaos often reigns supreme, there's one creature that effortlessly maintains an air of regal elegance…

Key dates in August 2023 - Deadlines

Taxpayers must undertake certain tasks, such as filing returns and paying tax, by certain dates. If these deadlines are missed, HMRC may charge late filing and late payment penalties. Interest is also charged on taxes paid late. Key dates The…

Check your State Pension Forecast

As retirement approaches, assessing your financial readiness for the golden years becomes increasingly important. One of the crucial components of your retirement income is the state pension. The state pension provides a foundation for your…

Home Responsibilities Protection (HRP)

Home Responsibilities Protection (HRP) reduced the number of years that a person in receipt of child benefit needed in order to qualify for a full state pension. Some people who were entitled to HRP may have it missing from their National Insurance…

New employees - taking on a new employee

When taking on a new employee you will need to obtain certain information from them in order to set them up on the payroll correctly and to determine the correct tax code to use. The procedure will depend on whether or not the new employee gives…

Upcoming deadlines - Key dates in July

Taxpayers must undertake certain tasks, such as filing returns and paying tax, by certain dates. If these deadlines are missed, HMRC may charge late filing and late payment penalties. Interest is also charged on tax paid late. Key dates Expenses…

Diesel company cars - key letters

If you provided employees with company cars in 2022/23 and did not payroll the benefit, you must supply HMRC with details of your employees’ cars on their P11D by 6 July 2023. It is important that you use the correct key letter to let HMRC…

Claim Child Benefit using the HMRC app

If you are a new parent, you can now claim Child Benefit via the HMRC app. However, high earners should note that some or all of the benefit may be clawed back via the High Income Child Benefit Charge. Key dates Child Benefit can be claimed…

Witty Guide to Celebrating Midsummer Day

Summer has finally arrived, and there is no better way to celebrate the peak of the season than by throwing a Midsummer Day party. Midsummer Day is a traditional holiday that has its roots in ancient pagan celebrations and is celebrated in many…
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