If you have children under 12 who attend a nursery, after school club, playscheme or childminder, or you are considering sending them to a summer camp, you should think about setting up a tax-free childcare account. The government adds 25% to the amounts that you save in the account – up to £2,000 for each […]
When a holding company sells shares in a subsidiary, the VAT incurred on the professional fees involved would normally be irrecoverable, on the basis that a sale of shares is an exempt supply. In a recent case a hotel group argued that a subsidiary was sold in order to finance the completion of construction of […]
Date What’s Due 01/07 Corporation tax payment for year to 30/9/23 (unless quarterly instalments apply) 05/07 Last date for agreeing PAYE settlement agreements for 2023/24 employee benefits 05/07 Deadline for agents and tenants to submit returns of rent paid to non-resident landlords and tax deducted for 2023/24 06/07 Deadline for forms P11D and P11D(b) for […]
Employers need to be aware that since 6 April 2024, employees are entitled to take a week’s unpaid leave each year if they need to fulfil caring responsibilities for a dependant. An important consideration is when an employer is entitled to postpone a request for carer’s leave. The basics Employees are entitled to carer’s leave […]
The UK’s consumer confidence grew again in May, with people continuing to see a brighter future for their finances. This is according to the Consumer Confidence Index from researchers GfK. They saw a two-point increase from April to May regarding people’s feelings about their economic situation. The Consumer Confidence Index provides insight into how UK […]
Recent research from MetLife UK has revealed that over half (52 per cent) of working parents have no form of financial protection. This means should they find themselves needing to take time off work to look after their unwell child they will have no additional financial support. The data highlighted that of the individuals without […]
According to an Office for National Statistics (ONS) survey from May 2024, 55 per cent of adults across Great Britain reported an increase in their cost of living compared to April. The data showed that 42 per cent of people said their cost of living had remained the same, and the other three per cent […]
The General Election may bring yet more uncertainty for business owners, especially those who are considering when to exit their business and the tax implications of that. So with an aging business owner population and younger business owners not wishing to employ staff but use contractors, there is the significant risk that the new Government […]
We often find that clients begin to show signs of stress when the Self-Assessment tax return deadline approaches. This is just one of the reasons we recommend you file your return early, but there are numerous other benefits. Here are three key reasons to consider submitting your tax return sooner rather than later: Avoid last-minute […]
HM Revenue & Customs (HMRC) has recently announced new Advisory Fuel Rates (AFRs) that will take effect from 1 June 2024. These changes include a reduction in the Advisory Electric Rate (AER) for electric vehicles – which can be highly tax efficient. Many businesses have invested in electric fleets, which presents a slight problem for […]
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