August 2023 - SJPR UK

31 Aug 23

Reducing self-assessment payments on account

Self-assessment taxpayers are usually required to pay their income tax liabilities in three instalments each year. The first two payments are due on: 31 January during the tax

31 Aug 23

Pension tax relief at source

You can usually claim tax relief for your private pension contributions. There is an annual allowance for tax relief on pensions of £60,000 for the current 2023-24 tax year. The

31 Aug 23

Higher rate tax relief on gifts to charities

The gift aid scheme, which was originally introduced in 1990, allows charities to reclaim from HMRC the basic rate of Income Tax deducted from qualifying donations by UK taxpayers.

31 Aug 23

Self-Assessment threshold change

The £100,000 threshold for Self-Assessment change for taxpayers taxed through PAYE only, increased from £100,000 to £150,000 with effect from 6 April 2023. However, the

31 Aug 23

Share buy-back clearance applications

Most payments a company makes to its shareholders, in respect of their shares, will be qualifying distributions and be subject to Income Tax. However, if certain conditions are

31 Aug 23

Current capital allowances for car purchases

If you are thinking about purchasing a company car through a limited company, there are many issues that need to be considered. In this short article we will point out some of the

29 Aug 23

Are you a company director?

There is more to being appointed a company director than accepting the title. According to Companies House directors formal, statutory duties and responsibilities

24 Aug 23

On your bike tax-free

The Cycle to Work scheme was introduced over 20 years ago to help promote the use of environmentally friendly modes of transport. The scheme allows employers to provide bicycles

24 Aug 23

Class 2 and 4 NIC for the self-employed

There are two types of National Insurance contributions (NICs) payable by most self-employed people. These are known as Class 2 NICs and Class 4 NICs. Class 2 NICs are paid by all

24 Aug 23

VAT supplies for no consideration

In most cases, a supply of goods or services for VAT purposes is deemed to have taken place in return for consideration. This is usually payment in money but can also be of a

Month: August 2023

Reducing self-assessment payments on account

Pension tax relief at source

Higher rate tax relief on gifts to charities

Self-Assessment threshold change

Share buy-back clearance applications

Current capital allowances for car purchases

Are you a company director?

On your bike tax-free

Class 2 and 4 NIC for the self-employed

VAT supplies for no consideration

Tax Diary May/June 2025

Be wary of the legitimacy of post-termination employment restrictions – they may not be reasonable or enforceable

Make the most of trivial benefit payments 2025-26

SJPR