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Chancellor unveils new measures

Chancellor unveils new measures

Chancellor Rachel Reeves has recently introduced a series of new measures aimed at advancing the priorities of the new government. The key announcements include:

New funding for breakfast clubs at

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Service tipping law now in force

Service tipping law now in force

New regulations that prohibit employers from withholding tips for employees in the hospitality, leisure, and services sectors took effect on 1 October 2024. This change follows the enactment of The

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Will 10% tax on business disposals survive?

Will 10% tax on business disposals survive?

While there have been no specific announcements regarding changes to Business Asset Disposal Relief (BADR), the Chancellor may consider modifying this relief in the upcoming Budget. If you are

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Using the GOV.UK ID Check app

Using the GOV.UK ID Check app

The GOV.UK ID Check app is used to allow applicants to verify their identify when they sign in to a government service with GOV.UK One Login. Once this had been completed satisfactorily, your identity

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New powers for banks to combat fraudsters

New powers for banks to combat fraudsters

Banks will be granted new powers to delay and investigate payments suspected of fraud, enhancing consumer protection against scammers.

Under new laws being proposed by the Government, banks will be

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New residence-based relief for non-doms

New residence-based relief for non-doms

A reminder that the government has stated that it will remove preferential tax treatment based on domicile status for all new foreign income and gains (FIG) that arise from 6 April 2025. To replace

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Government crack-down on late payers

Government crack-down on late payers

The government has unveiled new measures to support small businesses and the self-employed by tackling the scourge of late payments, which according to the Smart Data Foundry is costing SMEs £22,000 a

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Tax Diary November/December 2024

Tax Diary November/December 2024

1 November 2024 – Due date for Corporation Tax due for the year ended 31 January 2024.

19 November 2024 – PAYE and NIC deductions due for month ended 5 November 2024. (If you pay your tax

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Starter checklist for PAYE

Starter checklist for PAYE

When hiring a new employee, employers must determine the appropriate tax code and starter declaration for their payroll software. Using incorrect tax codes can result in the new employee over or

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Relief for company tax losses

Relief for company tax losses

Corporation Tax relief may be available when a company or organisation incurs a trading loss, a loss on the sale or disposal of a capital asset, or on property income. Tax relief may be available to

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Check your State Pension age

Check your State Pension age

HMRC’s ‘Check your State Pension age’ tool is available at www.gov.uk/state-pension-age/y.

The online tool allows taxpayers to check the following:

the earliest age they can start receiving the

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When you must register for VAT

When you must register for VAT

The taxable turnover threshold for VAT registration is currently £90,000 and has applied since April 2024.

Businesses must register for VAT if they meet one of the following conditions:

At the end

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Cash in Child Trust Funds

Cash in Child Trust Funds

HMRC has issued a press release urging 18-22 year olds who have yet to claim their Child Trust Fund (CTF) cash to do so as soon as possible. According to HMRC, over 670,000 young adults in this age

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Tracing lost pension details

Tracing lost pension details

An online service is available on GOV.UK at www.gov.uk/find-pension-contact-details to help people find their lost pension funds.

You can use this service to find contact details for:

your own

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