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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

19 Oct 23

Increase in National Living Wage

The Chancellor of the Exchequer, Jeremy Hunt, confirmed that the government has committed to the proposals of the Low Pay Commission for increasing minimum wage rates from 1 April

19 Oct 23

Reporting early payment of wages before Christmas

There is a permanent easement in place for employers to report PAYE information in real time over the Christmas period. This can be for a number of reasons, for example, during the

19 Oct 23

Electric charging of company vehicles at home base

HMRC has published revised guidance concerning the charging of company cars and vans at residential properties. HMRC had previously maintained that the reimbursement of costs in

17 Oct 23

Recurring sales

Most business owners will appreciate the difference between one-off sales, and services that are generally described as recurring. For example, you may sell a laptop (a one-off

17 Oct 23

Repeat business

Once you have secured the attention of a customer that has purchased their initial goods or services from you, you have completed the hard part - converted a prospect into a buying

13 Oct 23

Tax Diary November/December 2023

1 November 2023 - Due date for Corporation Tax due for the year ended 31 January 2023. 19 November 2023 - PAYE and NIC deductions due for month ended 5 November 2023. (If you pay

12 Oct 23

Re-starting a dormant company

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

12 Oct 23

Deadlines 2022-23 Self-Assessment tax return

The 2022-23 tax return filing deadline for taxpayers who continue to submit paper Self-Assessment returns is 31 October 2023. Late submission of a Self-Assessment return will incur

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