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11 Jan 24

Tax Diary February/March 2024

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

09 Jan 24

Setting up a payment plan with HMRC

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

09 Jan 24

Using your vehicle for work related journeys

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,

04 Jan 24

Do you need to register for VAT in 2024?

The taxable turnover threshold that determines whether businesses should be registered for VAT is currently £85,000. The taxable turnover threshold that determines whether

04 Jan 24

Utilise your 2023-24 IHT reliefs

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

04 Jan 24

What happens if your income exceeds £100K 2023-24?

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

04 Jan 24

Spring Budget 2024

The Chancellor of the Exchequer, Jeremy Hunt has confirmed that the next UK Budget will take place on Wednesday, 6 March 2024. This will be the Chancellor’s second Budget and will

04 Jan 24

Flat Rate Scheme annual review

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

04 Jan 24

Scottish Budget 2024-25

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

04 Jan 24

Welsh Budget 2024-25

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

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