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Hike in Scams targeting taxpayers
Hike in Scams targeting taxpayers HMRC has urged taxpayers to be particularly cautious about refund scams as the 31 January tax return deadline draws closer, with over 145,000 scam referrals for fake rebates and demands identified in the last 12 months. Fraudsters are continuing to target people with offers of tax refunds or demanding payment…
Read MoreCrypto Investors beware!
Crypto Investors beware! The number of adults in the UK owning a form of cryptocurrency continues to increase, as well as the average amount held, but – BEWARE – a lack of regulations means it is still a high-risk investment. With 93% of the UK population now being aware of cryptocurrency, the concern is that…
Read MoreCompanies House to start rollout of ID verification from early 2025
Companies House to start rollout of ID verification from early 2025 Companies House has issued a timeline for ID verification, which will affect more than seven million company directors and PSC’s who in the future will have to provide proof of their identity before filing information on the register to reduce abuse and fraud. The…
Read MoreReal time reporting of Benefits in Kind from April 2026
Real time reporting of Benefits in Kind from April 2026 In last month’s budget, the government announced some updates to the January 2024 proposals, which need to be taken into account for the 2025-26 tax year. From April 2026 there will be a phased introduction of the new reporting requirements, where Employers will be required…
Read MoreBudget 2024 – Double Cab Pick-up vehicles – new tax treatment from April 2025
Budget 2024 – Double Cab Pick-up vehicles – new tax treatment from April 2025 As the detail behind the Autumn Budget announcements continues to be scrutinised, a significant change to the treatment of double cab pick-ups (DCPU) is included in the changes – which is yet another U turn in this saga. The changes which…
Read MoreWhat is the role of the Company Secretary
What is the role of the Company Secretary Managing companies has become increasingly complex and requires skilled managers and executives to ensure that companies achieve the expectations of their shareholders. In this respect, company secretaries have an important part to play. Their knowledge of and detailed involvement in the affairs of the company mean that…
Read MoreEU to introduce e-invoicing for VAT
EU to introduce e-invoicing for VAT After two years of debate and negotiations, the European Council has reached an agreement on new measures that will modernise the EU’s VAT rules. The key changes will introduce a requirement for electronic invoices and real-time data reporting. There will also be new rules on VAT liability for bookings…
Read MoreChanges to director loan rules to stop tax avoidance for group companies
Changes to director loan rules to stop tax avoidance for group companies Anti-avoidance rules continue to be tightened up to ensure shareholders cannot extract funds untaxed from close companies with immediate effect. The measure, announced in the Budget, came into force immediately on 30 October 2024 and will amend section 455 loans to ‘participators anti-avoidance legislation’…
Read MoreKennedys Accounting are ‘here to help’ with your company start-up accounting
Kennedys Accounting are ‘here to help’ with your company start-up accounting So far in 2024, nearly 76,000 companies have been set up, with Kent, Essex and Westminster the most popular areas to start a business. In fact, with Surrey and Hampshire making up the top 5 areas, which between these 5 areas account for over…
Read MoreBudget 2024 – Hike in Capital Gains Tax and Business Asset Disposal Reliefs
Budget 2024 – Hike in Capital Gains Tax and Business Asset Disposal Reliefs The lower and higher rates of capital gains tax (CGT) were increased from 30 October 2024. Less than 1% of adults in the UK contribute to CGT, with £572m being collected in the last quarter. There are only two rates for CGT,…
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