There are special rules which limit the ability to change your company’s accounting year end date. A company’s year end date is also known as its ‘accounting reference date’ and is historically set by
If you have taxable income of less than £17,570 in 2023-24 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of
The Register of Overseas Entities came into force in the UK on 1 August 2022. The register is held by Companies House and requires overseas entities that own land or property in the UK to declare
In a recent announcement by the Treasury, it was announced that plans are afoot to deliver up to £1.8bn of productivity benefits by 2029.
The aim is to improve public sector productivity, including
Leaders from top comparison sites, RAC and The AA will be among those meeting the Energy Affordability Minister to help share new fuel price data and keep costs down for motorists.
Price comparison
The taxable turnover threshold that determines whether businesses should be registered for VAT will increase from £85,000 to £90,000 from 1 April 2024. The taxable turnover threshold that determines
As had been widely expected, the Chancellor announced further changes to National Insurance contributions (NIC) rates for employees and the self-employed.
There will be a further 2% cut in the main
The High Income Child Benefit Charge (HICBC) came into force January 2013 and has applied to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit. It was
In a move that may partly have been prompted by seeking to mirror a longstanding policy of the Labour party, the Chancellor has announced that the generous non-dom rules are to be axed.
From April
A higher rate of Capital Gains Tax (CGT) applies to gains on the disposal of residential property if the gain falls into the higher rate band. In the Spring Budget, the Chancellor announced a
In the Spring Budget, the Chancellor extended the fuel duty cut for a further 12 months to help support households and businesses at a time of high oil prices. The Chancellor acknowledged that the
As part of the Spring Budget measures, the Chancellor announced that the duty rates on beer, cider, wine and spirits would be frozen at the current rates from 1 August 2024 until 1 February 2025. This
As expected, the Chancellor has found wriggle room in his fiscal rules that have allowed him to please his fellow Conservatives by reducing the impact of taxation. Not an unfamiliar tactic for a
The first measures under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force on Monday 4 March 2024.
Changes introduced include:
greater powers to query information
The Chancellor announced pension fund reforms as a further step in the government’s plan to boost British business and increase returns for savers. This includes requirements for Defined Contribution
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