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National Insurance cut for employees and directors
In his November 2023 Autumn Statement, the Chancellor announced a reduction in the main primary rate of Class 1 National Insurance from...
Jan 26, 20242 min read
NIC payable by the self-employed from April 2024
The self-employed have historically paid two classes of National Insurance – Class 2 and Class 4. However, this is set to change from...
Jan 26, 20242 min read
Submit your tax return by 30 December to have your tax collected through PAYE
Although the deadline for submitting your 2022/23 tax return online is midnight on 31 January 2024, if you owe tax and you want to have...
Jan 26, 20242 min read
How the increased minimum wage will affect your business costs
Although inflation is now on a downward trend, the sharp cost rises over the last 18 months are baked in. Energy prices are increasing...
Jan 26, 20242 min read
The VAT domestic reverse charge: what your construction business needs to know - Bookkeeping Services Manchester | Go Figure Financial
The VAT domestic reverse charge came into operation in March 2021, introducing significant changes around how VAT is collected and paid...
Jan 26, 20242 min read
Spreading your January self-assessment payment
With a combination of low growth and high inflation, the 2022/23 tax year has been a tough time, financially speaking, for many of us. So...
Jan 26, 20242 min read
Your Q1 2023 deadlines for the diary
We always aim to keep you up to date with the most pressing dates and deadlines for your business diary. To help you get prepared and on...
Jan 26, 20242 min read
Reclaiming section 455 tax paid
In personal and family companies, directors often borrow money from the company as this is a cheaper and easier option than taking out a...
Jan 22, 20243 min read
Can you benefit from the marriage allowance?
The marriage allowance is not a separate allowance as such – rather, it is a transfer of part of one spouse or civil partner’s personal...
Jan 22, 20243 min read
Reporting payment to HMRC if you pay your employees early in December
Strict reporting deadlines apply under Real Time Information (RTI). Employers are required to report employees’ pay and deductions to...
Jan 22, 20242 min read
Depreciation versus capital allowances
Tax and accounting rules are not identical and it is sometimes necessary to adjust the accounting profit to arrive at the profit for tax...
Jan 22, 20243 min read
When does period of ownership for PRR start?
Private residence relief (PRR) removes the capital gains tax charge that would otherwise arise on a gain on the disposal of an only or...
Jan 22, 20242 min read
Divorce and the former marital home
On separation or divorce, it is common for one spouse to move out of the family home and for the other spouse to continue to live there....
Jan 22, 20244 min read
Beware property PM partnerships involving hybrid arrangements
HMRC have recently published a spotlight warning landlords to avoid schemes offering hybrid property arrangements that purport to save...
Jan 22, 20242 min read
Can mileage claims include loan interest?
The Approved Mileage Allowance Payment (AMAP) was introduced in 2002 as a statutory simplification to allow employers to make tax-free...
Jan 22, 20243 min read
Is it time to disincorporate?
On 26 October 2023 one of the most significant pieces of company legislation came into being. The main thrust of the Economic Crime and...
Jan 22, 20243 min read
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