ACCA – Scottish Budget for 2025/26

by Jessica Garbett | Dec 17, 2024 | Tax News

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA The Budget sets out the Scottish government’s proposed spending and tax plans The Scottish Budget 2025/26 was unveiled by the Scottish...

ACCA – Christmas gifts for staff and customers

by Jessica Garbett | Dec 12, 2024 | Tax News

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA The tax, NI and VAT implications of gifts and vouchers Christmas gifts and vouchers for employees and customers can have different tax,...

Christmas and New Year Office Hours 2024

by Jessica Garbett | Dec 9, 2024 | YogaTax News

Our office will be closing for Christmas on Friday 20th December 2024 at midday, and reopening on Monday 6th January 2025. If we are preparing company or LLP accounts for you with a 31st March 2024 year end, the filing deadline for these at Companies House will be...

Autumn Budget 2024 – Unpacking Some Extras

by Jessica Garbett | Nov 27, 2024 | Tax News

With further analysis and commentary, here are some extra thoughts on last months budget. Double Cab Pickups – buried in the small print, was a proposal to treat these as cars rather than vans from next April.  This reverses the reversal of an announcement back...

Autumn Budget 2024 and Planning Implications for Business Owners

by Jessica Garbett | Nov 18, 2024 | Tax News

Autumn Budget 2024 brought various changes to Capital Gains Tax (CGT) and Inheritance Tax (IHT).  Let’s look at what they were, and how they change the landscape for business owners looking to sell, retire or pass assets on.   CGT Budget Changes From 30th...

Tax Implications of Incorporation and Director Salary Levels for Small Businesses – Changes from Autumn Budget 2024

by Jessica Garbett | Nov 17, 2024 | Tax News

Earlier this year we published two articles looking at how cumulative changes to small business taxation in recent budgets, notably NI changes and increases in Corporation Tax, impacted taxation for small businesses, The first of these articles looked at the tax...

Making Tax Digital – Changes in Autumn Budget 2024

by Jessica Garbett | Nov 5, 2024 | Tax News

Autumn Budget 2024 brought a further announcement regarding Making Tax Digital for Income Tax Self Assessment: “The government is committed to delivering Making Tax Digital (MTD) for income tax Self Assessment. The government will expand the rollout of MTD to...

High Income Child Benefit Charge – Changes in Autumn Budget 2024

by Jessica Garbett | Nov 4, 2024 | Tax News

In the small print of the Autumn Budget 2024 were some changes to HIBC: “The government will not proceed with the reform to base the HICBC on household incomes. This is because it would have come at a significant fiscal cost of £1.4 billion by 2029-30 if setting...

ACCA – All change for employees expenses claims

by Jessica Garbett | Nov 4, 2024 | Tax News

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Claiming PAYE expenses? HMRC’s updated guidance on the evidence required  From 14 October 2024, HMRC has introduced new requirements for...

Autumn 2024 Budget – A First Look

by Susan Albest | Oct 30, 2024 | Business News, Tax News

It is sometime since a Budget was as hotly anticipated as today’s – the first under a Labour Government in 14 years, and against a backdrop of what is claimed to be a large “black hole” in the nations finances, of £22bn or £40bn depending which report you read....

Scam Letters from Companies House

by Jessica Garbett | Oct 23, 2024 | Business News

Recently we had a batch of scam letters arrive at our office for a selection of clients, sent to us as their Registered Office. These letters were purportedly from Companies House and referred to a “Payment Code Number”. At first glance they looked...

Second Class Retirement

by Jessica Garbett | Oct 21, 2024 | Business News

This report via Accounting Web and Interactive Investor caught our eye recently: Under pensioned, under-prepared and under pressure: new interactive investor report (Summary via Accounting Web) Second-class retirement: the self-employed experience (full report) Its...

ACCA – HMRC’s One to Many letters for non-submission of tax returns

by Jessica Garbett | Oct 16, 2024 | Tax News

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA HMRC’s One to Many (OTM) letters for non-submission of tax returns are a key tool in the tax authority’s communication strategy....

ACCA – Allocation of Tips Act 2023

by Jessica Garbett | Oct 9, 2024 | Business News

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA What UK businesses need to know Hospitality or service-sector business owners understand the hard work their staff put in and how much...

ACCA – HMRC debunks five common self-assessment myths

by Jessica Garbett | Oct 2, 2024 | Tax News

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA HMRC has clarified the rules about five common misconceptions around registering for self-assessment and paying tax as a self-employed worker...