The government published the Autumn Finance Bill 2023 on 29 November 2023. The Bill is officially known as Finance Bill 2023-24. The Bill contains the legislation for many of the tax measures
Autumn Finance Bill 2023 update
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Full-time and part-time contracts
As an employer, the tax and employment responsibilities you have for your staff will depend on the type of contract you give them and their employment status.
Contract types include:
full-time and
The Valuation Office Agency tackles holiday lets
The Valuation Office Agency (VOA) is writing to some owners of self-catering holiday lets that are assessed for business rates. They are doing this because they need further information about the
Tax Diary March/April 2024
1 March 2024 – Due date for Corporation Tax due for the year ended 31 May 2023.
2 March 2024 – Self-Assessment tax for 2022-23 paid after this date will incur a 5% surcharge unless liabilities are
Reporting employee changes to HMRC
There are rules that businesses must follow when they are reporting employee changes. These changes must be sent to HMRC using a Full Payment Submission (FPS). The FPS is a submission that is required
Alcohol duty freeze takes effect
As part of the Autumn Statement measures the Chancellor announced that the duty rates on beer, cider, wine and spirits would be frozen at the current rates until 1 August 2024. This change took effect
Record number of taxpayers file on time
HMRC has confirmed that more than 11.5 million people submitted their 2022-23 self-assessment tax returns by the 31 January deadline. This included over 778,000 taxpayers who left their filing until
Should you pay tax on selling goods online?
HMRC has published new guidance for taxpayers that regularly sell goods or services through an online marketplace. The guidance makes it clear that this activity could be treated as a ‘trade’ for UK
Landlords – claiming maintenance and repairs costs
Landlords are able to claim for allowable expenses as a deduction from their rental income when calculating taxable rental profits to declare to HMRC. The expenses must relate wholly and exclusively
Using your own vehicles for work-related journeys
If you are an employee and use your own money to buy things you need for your job you can sometimes claim tax relief for the associated costs. Usually, it is only possible to claim tax relief for the
Does your business offer customs services?
If your business does offer customs services, did you know that HMRC could offer you a free listing on their published lists.
HMRC do not vet, approve or recommend individual firms. Information is
Government promotes electric vehicles
The government department active in the promotion of electric vehicles has published guidance regarding the costs, charging issues and infrastructure. We have extracted a few comments and reproduced
Penalties if you missed the filing deadline
Have you missed the 31 January 2024 filing deadline for your 2022-23 self-assessment return?
If you have missed the filing deadline, then you will be charged a £100 fixed penalty if your return is up
File early to have self-assessment tax coded out
The coding out threshold may entitle you to have tax underpayments collected via your tax code when you are in employment or in receipt of a company pension. Instead of paying off debts in a lump sum,
Do you need to tell HMRC about additional income?
There is an online tool that allows taxpayers to check if they need to notify HMRC about additional income. The online tool can be found at www.gov.uk/check-additional-income-tax.
This could include
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