October 2023 - SJPR UK

25 Oct 23

Self-Assessment scam warning

Fraudsters are continuing to target taxpayers with scam emails in advance of the deadline for the submission of Self-Assessment returns for the 2022-23 tax year. In the 12 months

25 Oct 23

Tax free annual party

The cost of a staff party or other annual entertainment is generally allowed as a deduction for tax purposes. If you meet the various criteria outlined below, then there is no

25 Oct 23

Scottish council tax frozen

Humza Yousaf, Scotland's First Minister, has announced that council tax rates will be frozen in the next financial year to support people struggling with the effects of high

25 Oct 23

Countdown to Self-Assessment filing deadline

There are now less than 100 days to file your 2022-23 Self-Assessment tax return online. The deadline is 31 January 2024. The deadline for paper returns ended on 31 October

25 Oct 23

Replacement of domestic items relief

The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental

25 Oct 23

Loss of personal tax allowance

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

23 Oct 23

Cash flow v customer credit limits

If your business grants a customer time to pay - say 30 days - after the services or goods supplied have been delivered, effectively, your money stays in their bank account for 30

23 Oct 23

New company reporting regulation withdrawn

The Government has withdrawn draft regulations after consultation with companies raised concerns about imposing additional reporting requirements. Instead, the Government will

19 Oct 23

How dividends are taxed

Dividends received are taxed as income but the rates of tax applied are different to the formal Income Tax rates. Also, individuals can receive dividends up to the annual dividend

19 Oct 23

Accounting periods for Corporation Tax

Companies often have two different company accounting periods. This is because there are different rules for Companies House filings and for returns sent to HMRC. The accounting

Month: October 2023

Self-Assessment scam warning

Tax free annual party

Scottish council tax frozen

Countdown to Self-Assessment filing deadline

Replacement of domestic items relief

Loss of personal tax allowance

Cash flow v customer credit limits

New company reporting regulation withdrawn

How dividends are taxed

Accounting periods for Corporation Tax

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