July 2024 - Page 2 of 4

23 Jul 24

Your stake in your business

Ever wondered how your stake in your business is represented in your accounts? The answer can be found at the bottom of your balance sheet. Simply put it is the value of your

18 Jul 24

The NIC Employment Allowance

The Employment Allowance benefits eligible employers by reducing their National Insurance liability. The current allowance is £5,000. An employer can claim less than the maximum if

18 Jul 24

Gains on sale of shares

Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% (but see comments below) when you sell shares unless they are in a CGT free investment such as an ISA or

18 Jul 24

When you cannot use the Property or Trading Allowances

Two separate £1,000 tax allowances for property and trading income were introduced in April 2017. If you have both types of income highlighted below, then you can claim a £1,000

18 Jul 24

Ordering documents from Companies House

Companies House offers interested parties the ability to order certified copies of certificates and documents held on the Companies House register. You can order: a company

18 Jul 24

Child benefit for 16 to 19 year olds

The child benefit rates for the only or eldest child in a family is currently £25.60 and the weekly rate for all other children is £16.95. Taxpayers entitled to the child benefit

18 Jul 24

Taxable and non-taxable State Benefits

Whilst there are a large number of state benefits available, it is not clear which of these benefits are taxable and which are tax-free. HMRC’s guidance provides the following

15 Jul 24

The new Chancellor’s first speech

The Chancellor has promised to take immediate action to fix the foundations of the economy, rebuild Britain and make every part of the country better off. In her first speech as

15 Jul 24

Responding to a personal data breach

The Information Commissioner’s Office has a simple guide that explains what you need to do in the 72 hours following a data breach. The seven step approach advocated is set out

11 Jul 24

Restarting a dormant company

HMRC must be informed when a non-trading or dormant company restarts trading and becomes active for Corporation Tax purposes. Companies can use HMRC Online Services to supply the

Month: July 2024

Your stake in your business

The NIC Employment Allowance

Gains on sale of shares

When you cannot use the Property or Trading Allowances

Ordering documents from Companies House

Child benefit for 16 to 19 year olds

Taxable and non-taxable State Benefits

The new Chancellor’s first speech

Responding to a personal data breach

Restarting a dormant company

Definition of R&D for tax purposes

Tax treatment of income after cessation

Tax refunds for dissolved companies

SJPR