A number of reforms to tax reliefs for the creative sectors came into effect from 1 January 2024. Under the reformed system, a children’s TV production, animated TV production or film with £1 million
A new press release from HMRC has highlighted that 49,317 taxpayers took the time to file their tax returns online over the New Year holiday. It is estimated that over 6.5 million taxpayers have
Before Brexit, the UK was unable to zero rate VAT on women’s sanitary products under EU rules and the items were subject to 5% VAT. Following the end of the transition period the UK was no longer
If you have reached the State Pension age and continue to work, in most cases, you no longer need to pay National Insurance Contributions (NICs).
At State Pension age, the requirement to pay Class 1
Readers are reminded that if the dividends they draw from their company, when added to their other income, exceeds the basic rate Income Tax Band, then much higher rates of dividend tax will
1 February 2024 – Due date for Corporation Tax payable for the year ended 30 April 2023.
19 February 2024 – PAYE and NIC deductions due for month ended 5 February 2024. (If you pay your tax
Business Asset Disposal Relief (BADR) is available on the sale of a business, disposal of shares in a trading company or an individual’s interest in a trading partnership. Where this relief is
If you use your car or other vehicle to undertake business journeys on behalf of your employer, and your employer does not:
Fully reimburse you for the business use, or
Reimburses you but at a
The 31st of January is a key date for those of us who are registered for self-assessment. There are three deadlines:
The closing date to file your 2022-23 tax return without incurring an initial
If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt
The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. The taxable turnover threshold that determines whether businesses can apply for
If using the VAT Flat Rate scheme, businesses pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on the type of business. The scheme has been designed to
We wanted to remind you of the Inheritance Tax (IHT) implications of making cash gifts during the current 2023-24 tax year that will end on 5 April 2024.
You can give away up to £3,000 worth of gifts
The Welsh draft Budget for 2024-25 was published on 19 December 2023. The Budget sets out the Welsh government’s revenue and capital spending proposals, including detailed portfolio spending
Scotland’s Deputy First Minister and Finance Secretary, Shona Robison delivered her first Budget statement to the Scottish parliament on 19 December 2023.
The Finance Secretary said that the
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