Category: Uncategorized

Capital Allowances – Are you enjoying the super deduction tax break? Make sure you enquire today as this tax relief is only available to claim for accounts ending at 31st March 2023, giving you only another 4 months to claim. See more about this tax in the following link:- Super-deduction – GOV.UK (www.gov.uk)

Are you aware that HMRC are stopping the facility for you to top up your National Insurance contributions to entitle you to your full pension at retirement? See link below for more details: Taxpayers given more time for voluntary National Insurance contributions – GOV.UK (www.gov.uk)

HMRC have now changed VAT penalties so that not only are you charged for late payment of VAT but you are now charged for the late submission, please see the following link for full details:- VAT penalties and interest – GOV.UK (www.gov.uk)

Have you had this through the door yet? Is it making you anxious already? Let us take the stress from you! Please get in touch if you would like us to help you complete your year end taxes, very competitive prices.

Do you know if you should be registered on the Construction Industry Scheme? Please see the link below to help you determine if this applies to you:- Construction Industry Scheme: a guide for contractors and subcontractors (CIS 340) – GOV.UK (www.gov.uk)

Company cars are one of the most desirable perks for employees, providing access to a (usually) brand new and fully maintained vehicle that’s also available outside work hours. Unfortunately, this doesn’t come for free. If you’re using a company-owned car for private journeys then HMRC class it as a Benefit-in-Kind (BiK), and you’ll be taxed…

Key announcements made today include the following – the links will take you to more info: Not directly mentioned, the Budget has also essentially confirmed that:

IR35 is a tax legislation that affects contractors and freelancers who work through intermediaries. It has been subject to several reforms and amendments since its introduction in 2000. The latest development is that the UK government has announced the repeal of the IR35 reforms that were expected in April 2023, which would have transferred the responsibility…