Child Benefit claw-backs
March 21, 2024

One of the more impactful changes in the recent budget was the easing of the High Income Child Benefit Charge. Up to 5 April 2024, this has been recovering Child Benefits received by parents if the total income of one or more parent exceeded...

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Save on Easter child-care costs
March 19, 2024

HM Revenue and Customs (HMRC) issued a press release recently reminding working families to save money on their childcare costs in time for the school holidays by making use of the Tax-free Childcare support.

With the Easter break...

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Companies House introduces changes
March 14, 2024

As we have mentioned in previous posts, Companies House have been tasked with introducing a number of changes introduced by the Economic Crime and Corporate Transparency Act 2023 (ECCT Act), that came into force on Monday 4 March...

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Impact of the Spring Budget 2024
March 12, 2024

We all knew that the Chancellor would have restricted options when considering the contents of his recent spring budget announcement on 6 March. But it seems he has the skills after all to “play tennis” with his arms tied behind his...

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Tax Diary March/April 2024
March 11, 2024

1 March 2024 - Due date for Corporation Tax due for the year ended 31 May 2023.

2 March 2024 – Self-Assessment tax for 2022-23 paid after this date will incur a 5% surcharge unless liabilities are cleared by 1 April 2024, or an...

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File early to have self-assessment tax coded out
March 11, 2024

The coding out threshold may entitle you to have tax underpayments collected via your tax code when you are in employment or in receipt of a company pension. Instead of paying off debts in a lump sum, money is collected in equal monthly...

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Reporting employee changes to HMRC
March 11, 2024

There are rules that businesses must follow when they are reporting employee changes. These changes must be sent to HMRC using a Full Payment Submission (FPS). The FPS is a submission that is required every time you pay your employees and must...

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Eligibility for the VAT Flat Rate Scheme
March 11, 2024

The VAT Flat Rate scheme is open to VAT registered businesses that expect their taxable turnover in the next 12 months to be no more than £150,000, excluding VAT. The annual taxable turnover limit is the total of everything that a...

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Beware fake tax rebate offers
March 11, 2024

HMRC continues to warn of the ever-present problem of fraudulent phishing emails, suspicious phone calls and texts. These unwanted emails, phone calls and texts are being sent from around the world as HMRC and other agencies continue to combat...

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Budget summary 6 March 2024
March 7, 2024

As expected, the Chancellor has found wriggle room in his fiscal rules that have allowed him to please his fellow Conservatives by reducing the impact of taxation. Not an unfamiliar tactic for a government in a general election...

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