Posts by Nettie Buss

Less than 80 days to go!! Do you need to file a Self Assessment tax return and keep putting it off to another day! Do you need some assistance as you are not sure how to do it? Then let us at Kennedys Accounting help! – with less than 80 days to go until the…

HMRC has changed its process for late VAT returns HMRC is changing the assessment process for late VAT returns, making it even more important to ensure you have detailed records and that all returns are submitted on time. If you (your business) fails to file a VAT return by the due date, HMRC will apply…

Company name change to Kennedys Accounting Ltd As we continue with the countdown to our change of name to Kennedys Accounting Ltd, we are excited to share our new logo’s. If you have any questions, please let us know and we will be happy to help as we continue with setting Rift ‘adrift’. The team at…

In September 2023 Rift Accounting Ltd will be changing its name to Kennedys Accounting Ltd Rift Accounting Ltd which was originally part of an award-winning group of companies, changed ownership in 2020 following a management buyout by the existing directors. Dermot Kennedy, Managing Director commented – “This is an exciting change for the company which…

Self Assessment threshold rises to £150K from 2023/24 Tax Year HMRC has confirmed that with effect from the tax year 2023 to 2024, the self-assessment threshold for taxpayers taxed through PAYE only, will change from £100,000 to £150,000. Any taxpayers that are affected do not need to do anything now as the self-assessment threshold for…

Part Qualified Accountant Location: Ashford Salary: Competitive / Market Leading Salary Job Type: Full-Time, Permanent We are Rift Accounting Ltd and we are proud of our customer centric approach to accountancy and growth. We are looking for further like minded individuals with a passion for accountancy, business and excellent customer service to join our team…

HMRC – Option to Tax HMRC is pushing responsibility for options to tax onto the taxpayer, making it even more difficult to obtain confirmation. HMRC have ended a consultation regarding the option to tax on land and buildings processes, having recognised that their ability to process options to tax has dropped over recent years.  Most recently…

Personal Tax Changes from April 2023 Base rate and higher rate thresholds remain frozen until at least 2028 at £12,570 and £50,271 respectively. This will likely pull more taxpayers into higher rate tax, with over a million expected to face 40% tax charges for the first time as a result of the freeze. The additional…

Tax Changes from 01 April 2023 The rate of corporation tax has increased from 19% to 25% for the largest businesses from 1 April and ‘full expensing’ is available for three years. Businesses with profits below £50,000 will not be affected as the government has introduced a small profits rate for those companies. Then tapered…

What is the optimum director’s salary for 2023/24? The optimum director’s salary for 2023/24 is £12,570 per annum. The reason for this is all down to the National Insurance (NI) rates. The lower earnings limit for NI in 2023/24 is £6,396 per annum. If you earn over this amount it will count as a qualifying…