SJB & Co Chartered Accountants
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 […]
May 2024 Update – New Tax Year Read More »
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
How to protect your business from an HMRC investigation Read More »
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
The High Income Child Benefit Charge: Changes for 2024/25 Read More »
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
National Minimum and Living Wage: Changes from 1 April 2024 Read More »
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
March 2024 – Budget Update: The Winners and Losers Read More »
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
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
Year-end planning tips? How to reduce your tax bill. Read More »
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.
Have you reported all your dividends? HMRC targets company owners. Read More »
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
Extracting profits from your company. Is your strategy tax efficient? Read More »
National Insurance Contributions. New Employee Contribution rates from 6 January 2024. It was announced at the time of the Autumn 2023 Statement that the main rate of primary Class 1 National Insurance contributions payable by employees is to be reduced from 12% to 10% with effect from 6 January 2024. Employers will need to update
National Insurance Contributions. New Employee Contribution Rates from 6 January 2024 Read More »
