simon, Author at SJB & Co Chartered Accountants

July 2024 Update – Tax Returns, July payments, property sales and disclosure facilities

Hello everyone, we are now half way through the year and have a general election looming. In the midst of a summer of sport and hopefully improving weather there is still plenty to be done with tax returns to complete, July tax payments approaching and planning finances to take advantage of tax efficiencies. As ever, […]

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May 2024 Update – New Tax Year

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Hello everyone, we are now in a new tax year so we start off with the importance of tax returns and news of a prize draw…Details of important changes coming in and actions you should take this month on child benefit, pensions and national insurance. As ever, if there are any questions please do get

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How to protect your business from an HMRC investigation

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Just the thought of an HMRC investigation can send shivers down the spine of any business owner, but fear not! We’ve got precautions and strategies to share with you that can significantly reduce the likelihood of finding yourself under HMRC’s microscope. They will also help guide you through an investigation smoothly. What is an investigation

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The High Income Child Benefit Charge: Changes for 2024/25

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The High Income Child Benefit Charge (HICBC) is a tax charge that claws back child benefit where the claimant and/or their partner has adjusted net income in excess of £50,000. As announced in the Spring Budget, the trigger threshold is to be increased from 6 April 2024, with the withdrawal rate being reduced from the

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National Minimum and Living Wage: Changes from 1 April 2024

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Employers are required to pay workers at least the National Living Wage (NLW) or National Minimum Wage (NMW) for their age. The rates are increased from 1 April 2024. The NLW is extended to workers aged 21 and above from that date. Key dates Employers must pay workers the new NLW or NMW rate for

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March 2024 – Budget Update: The Winners and Losers

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March 2024 Budget Update The Winners and Losers The chancellor announced his spring budget on Wednesday 6th March 2024. There is a lot to digest and unpick. With a general election looming, it was clear that the chancellor had decided to put more money back into the pockets of working people. However, not much of

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Companies House changes: New rules for Registered Offices and requirement for registered email address

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Companies House Reforms March 2024 Changes The Economic Crime and Corporate Transparency Act 2023 introduced significant Companies House reforms. These include new rules for registered offices, a requirement to provide a registered email address and the need to make a statement of lawful purposes. These changes come into effect from 4 March 2024. Key dates

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Year-end planning tips? How to reduce your tax bill.

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Year-end tax planning tips?How to reduce your tax bill. As the end of the 2023/24 tax year approaches, it is prudent to review your tax affairs and consider whether you can reduce your tax bill by taking advantage of allowances and exemptions that would otherwise be wasted. Key dates For individuals, the 2023/24 tax year

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Have you reported all your dividends? HMRC targets company owners.

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Have you reported all your dividends?HMRC targets company owners HMRC’s latest one-to-many letter, targets company owners who they believe may have failed to declare dividend income. The letters have been sent where the company accounts show a large drop in reserves, but the shareholders have failed to declare dividend income on their personal tax returns.

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Extracting profits from your company. Is your strategy tax efficient?

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Extracting profits from your company.Is your strategy tax efficient? If you operate your business as a personal or family company, you will need to extract profits if you want to use them to meet personal expenditure. This update considers some of the various ways in which this can be done. And in particular, if you

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