SJB & Co Chartered Accountants
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
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Autumn Statement 2023. Key announcements. The Chancellor, Jeremy Hunt, presented his Autumn Statement on 22 November 2023, focussing on five areas: reducing debt, cutting tax and rewarding hard work, backing British business, building domestic and sustainable energy and delivering a world-class education. From a tax and National Insurance perspective, highlights included the abolition of Class
Autumn Statement 2023. Key Announcements. Read More »
Christmas parties and gifts. How to keep them tax-free Many employers hold a staff Christmas party and/or give their staff a Christmas gift. By taking advantage of the available exemptions, it is possible to prevent an unwanted tax liability from arising. Key dates Where the exemptions do not apply and a taxable benefit arises in
Christmas parties and gifts. How to keep them tax-free. Read More »
Are your NIC contributions up to date? Check your state pension entitlement. Entitlement to the state pension and other contributory benefits depends on your National Insurance record. If you do not have sufficient qualifying years, you will not receive the full state pension. However, you can make voluntary contributions to top up your record. Key
Are your NIC contributions up to date? Check your state pension entitlement. Read More »
Child Trust Funds – find an unclaimed amount Child Trust Funds are tax-free savings accounts for children. A report published in July this year revealed that almost one million young adults have unclaimed Child Trust Funds worth in total £1.7bn. The child is able to access the funds in the account when they turn 18.
Child Trust Funds – find an unclaimed account Read More »
