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Trick or treat this Halloween!
Trick or treat this Halloween! Many people, especially children, love the thrill of being scared and startled by ghosts, witches, and vampires at Halloween. While many enjoy the fear and excitement associated with this horror-filled holiday, don’t let your taxes and financial future bring you a fright this Halloween. Let’s face our financial ghosts during…
Read MoreDividend tax expected to hit record £17.8bn this tax year
Dividend tax expected to hit record £17.8bn this tax year The number of people expected to pay dividend tax in the current tax year is likely to have doubled in just three years as the tax-free allowance is slashed. The Treasury has estimated it is set to raise nearly £18bn from dividend tax this year…
Read MoreThousands of working days lost due to late payments
Thousands of working days lost due to late payments The government has advised that they plan to clamp down on late payments which are costing small businesses up to £22,000 a year, which is leading to up to 50,000 business collapses annually. New legislation being considered will require ‘large’ businesses to include payment reporting in…
Read MoreCompanies House to start issuing fines
Companies House to start issuing fines Companies House will start issuing fines of up to £2,000 for ‘repeat offenders’ for those who fail to comply with registration rules as part of the continuing crackdown of the register. The new powers are a key part of the Economic Crime and Corporate Transparency Act 2023 (ECCT), which…
Read MoreCompanies House continues to tighten its belts
Companies House continues to tighten its belts Companies House is warning companies of the new penalties it is enforcing, although they have said they will ‘support businesses to comply with their legal obligations,’ such as aiding them in filing their confirmation statements on time. It will be those that ignore the warnings that will be…
Read MoreHMRC is changing the way employees can claim PAYE employment expenses
HMRC is changing the way employees can claim PAYE employment expenses From 14 October 2024, HMRC will be requiring employees to claim PAYE employment expenses using a P87 form, which means that you will need to provide supporting evidence to prove the eligibility of the expenses before the claim will be progressed. Employees can still claim this…
Read MoreHave you considered a Virtual Finance Director?
Have you considered a Virtual Finance Director? As businesses grow, Directors start to find they need a different skill set around them and that they need a ‘board room’ of ‘helpers’ that they didn’t need at the start of their journey. However, budgets may still be tight and as a business owner you need to…
Read MoreAre you selling online? Do you know if you need to do a personal tax return?
Are you selling online? Do you know if you need to do a personal tax return? The Low Income Tax Reform Group (LITRG) has allegedly warned HMRC that they need to increase publicity about new online platform reporting rules which will give HMRC access to a database of information about online sales. New rules, as…
Read MoreTreasury confirms extension of the Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) tax reliefs to April 2035
Treasury confirms extension of the Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) tax reliefs to April 2035 The above-mentioned schemes will now run until 5 April 2035 and are designed to encourage investment into new or young companies through tax-relief incentives, encouraging innovation, creating jobs and stimulating economic growth. The schemes offer incentives…
Read MoreCompanies House is replacing Government Gateway Access
Companies House is replacing Government Gateway Access The government’s new single sign-in service, Gov.uk One Login will need to be used by businesses to access Companies House accounts instead of the Government Gateway process. Companies House has confirmed that from autumn 2024, it will start to move to the new system which will have to…
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