Student loan repayments – making payments through Self Assessment If you are within Self Assessment and have a student and/or postgraduate loan in respect of which repayments were due to start before the end of the tax year to which the return relates, you will need to complete the student or postgraduate loan section of […]
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Electric company cars – reimbursed domestic electricity costs HMRC have recently changed their policy allowing employers to reimburse the cost of electricity used in charging an electric company car at home tax free. This further increases the attractiveness of electric company cars as a tax-efficient benefit. Key dates HMRC announced this change of policy on
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Hello everyone, this month we are covering tax investigations, tax return completion, child benefit and inheritance tax – is it relevant to you? As always, if there are any questions please let me know.Kind regardsSimon Tax investigationsThe thought of a tax investigation or visit from HMRC can be worrying for many. Some HMRC enquiries are
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How to prepare your business for an HMRC tax investigation As a business owner, the thought of an HMRC tax investigation can be quite daunting. But worry not, we’re here to guide you through the process and provide you with some handy tips on how to prepare your business for an HMRC tax investigation in
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What you need to know about hiring an apprentice So, you’re thinking about hiring an apprentice in the UK? Great decision! Apprenticeships are a fantastic way to give young people a start in their careers while benefiting your business with fresh talent and a boost in productivity. But hold your horses! Before you jump in,
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Dividends – Record keeping requirements A dividend is a distribution made from a company’s retained profits. The dividend must be properly declared. Dividend payments to shareholders must be accompanied by a dividend voucher. Key dates The effective date of payment of a dividend is the date that the dividend becomes unconditional. This note explains the
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Key dates in August 2023 Taxpayers must undertake certain tasks, such as filing returns and paying tax, by certain dates. If these deadlines are missed, HMRC may charge late filing and late payment penalties. Interest is also charged on tax paid late. Key dates The key dates in August 2023 are 1 August for corporation
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Do you need to pay additional contributions by 5 April 2025? Class 3 National Insurance contributions are voluntary contributions which an individual can choose to pay to increase their entitlement to the state pension. Individuals who have gaps in their contribution record from 2006/07 to 2015/16 have a limited window in which to take advantage
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Coping with inflation, recession, and other financial challenges This update sets out some of the business and personal financial challenges for 2023-24, and a few ideas for countering these challenges. The challenges for business owners The combination of rising energy bills, high inflation, recession and climbing interest rates sets a grim stage for 2023-24. All
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Reminder 31 July tax payments The second payment on account for self-assessment taxpayers is due by 31 July. You should have already received a reminder from HMRC of the amount due and how to pay. Clients unsure as to what to pay should contact us to confirm the amount due. Details of how to pay
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