Call: 020 3301 7474
Call: 020 3301 7474
As the end of the financial year 2022/2023 is rapidly approaching, we have gathered a list of key changes that will come into force at the start of the new tax year 2023/2024. If you have any questions about any changes in this Payroll Update that might affect you, please do get in touch with…Read More
On Wednesday 15th March 2023, the Chancellor Jeremy Hunt unveiled his Spring Budget. The announcements centred around four key pillars: enterprise, education, employment and everywhere The Chancellor aims to halve inflation, to grow the economy and get debt falling – all whilst encouraging the unemployed back into work by overcoming obstacles faced by age disability…Read More
The deadline for filing the Annual Tax on Enveloped Dwellings (ATED) return is the 30th April each year. Companies that own UK residential property with a value in excess of £500,000 are required to submit a return, pay any tax due or claim relief for the period 1st April 2023 to 31st March 2024 no…Read More
The British Dental Industry Association (BDIA) annual Dental Showcase will be taking place this year at the ExCel Exhibition Centre from 24th – 25th March. This not-to-be missed event for the dental industry expects to welcome over 10,000 visitors over the two days including dental practice owners, dentists, associate dentists, practice managers, technicians, hygenists…Read More
A recent case before the tax tribunal has confirmed that all of a company’s shares are ordinary shares except those that carry a fixed rate of return. This is crucial as CGT business asset disposal (BAD) relief requires a shareholder to be entitled to at least 5% of a company’s ordinary share capital in addition…Read More
Despite the coronavirus lockdowns HMRC still expect P11d forms reporting expenses and benefits to be submitted by the normal 6 July deadline. Remember that reimbursed expenses no longer need to be reported where they are incurred wholly, exclusively and necessarily in the performance of the employee’s duties. Dispensations from reporting are no longer required, although…Read More
These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 June 2021. Where there has been a change the previous rate is shown in brackets. Engine Size Petrol Diesel LPG 1400cc or less 11p(10p) 8p (7p) 1600cc or less 9p 1401cc to 2000cc 13p(12p) 9p(8p) 1601…Read More
Another consequence of the lockdown periods is that employees may have driven fewer private miles in their company cars, particularly where they have not been driving to the office. If they are to avoid being taxed on the provision of private fuel they need to fully reimburse their employer for the cost of private fuel…Read More
P11d forms reporting benefits in kind provided to employees and directors need to be submitted to HMRC by 6 July. Where a company car is “unavailable” for private use for 30 or more consecutive days the benefit is proportionately reduced. During the various lockdown periods many employees and directors have not been using their company…Read More
HMRC are urging businesses to look out for the use of mini-umbrella companies (MUCs) to pay contractors supplying their labour via agencies and other intermediaries. Businesses need to be aware of the financial and reputational risks of such entities in their labour supply chain and carry out due diligence to minimise those risks. You may…Read More
On Wednesday, the Chancellor Rishi Sunak made a speech entitled “Summer Economic Update” where he unveiled further Government supports and he unveiled the Government’s plan for jobs which he described as the “Second phase in in the Government’s economic response to the crisis.” Here are the highlights and we will update you on the details in…Read More
Today face masks become compulsory on public transport in England and the Government has outlined its recovery strategy. The Coronavirus job retention scheme rules (CJRS) are changing, and these are outlined below and other Government news. At the end of the newsletter are details of allowable expenses for home working. Please contact us if you…Read More
The news today is about the drop in the UK’s GDP by over 20% and the Government has been releasing figures showing the amount and number of claims for CJRS and SEIS schemes. Speculation on the reduction of the 2-metre rule continues. Regardless of these figures and the speculation, staying safe is our main priority…Read More
Today we catch up with the launch of the Local Authority Discretionary grant funds in England and how you can watch videos and register for the free Government webinars to learn more about the support available to help you deal with the economic impacts of coronavirus. The Government has been updating a lot of the support…Read More
The Government has turned its attention to looking at how the UK can best recover from the Pandemic. It has also updated the list of businesses that may now open, updated the Job Retention Scheme website and it has issued new guidance to those needing to travel, including a travel checklist. We have also added…Read More