Date What’s Due 1 November Corporation tax for year to 31/01/2023, unless quarterly instalments apply 19 November PAYE & NIC deductions, and CIS return and tax, for month to 5/11/23 (due 22/11 if you pay electronically) 1 December Corporation tax for year to 28/02/2023, unless quarterly instalments apply 19 December PAYE & NIC deductions, and […]
The Government has recently passed an important piece of legislation, the ‘Pensions (Extension of Automatic Enrolment) Act 2023’, which could significantly impact young savers across the nation. The Act, which received Royal Assent on 19 September 2023, grants the Government the power to: Lower the minimum age for automatic enrolment into a workplace pension from […]
The Chancellor of the Exchequer, Jeremy Hunt, is reportedly considering significant reforms to Individual Savings Accounts (ISAs), which could result in substantial tax breaks for savers. The proposed changes, expected to be announced in the Autumn Statement on 22 November 2023, have sparked a range of reactions from financial experts. While some see it as […]
Life insurance is a crucial financial safety net that provides peace of mind for you and your loved ones. But what if one policy isn’t enough? Can you take out more than one life insurance? The short answer is yes, but there are several factors to consider. Types of life insurance policies Before considering the […]
Research and development (R&D) tax relief claims are a vital way to offset your business costs against profits and promote technological innovation and advances. However, filling in the mountain of paperwork associated with R&D claims can be tedious and time-consuming – and has only gotten more so with recent changes. Almost half of businesses that […]
Businesses are holding their breath as the upcoming Autumn Statement threatens to change the tax landscape of the UK. Chancellor of the Exchequer, Jeremy Hunt, announced that he will present the Statement to Parliament on 22 November 2023. The cost-of-living crisis is becoming a serious political issue ahead of an upcoming General Election and rising […]
HM Revenue & Customs (HMRC) has continued to run campaigns to ensure that overseas workers, registered in the UK, are paying the correct taxation rates. Taxpayers that have overseas assets and income may still be obligated to pay UK tax rates under certain circumstances. The first step HMRC will take to determine your tax obligations […]
HM Revenue and Customs (HMRC) has recently reported a significant increase in Corporation Tax receipts for 2022/23. The receipts have risen by £17.3 billion, reaching a record £84.7 billion. This represents a 26 per cent increase on the previous tax year, which is a substantial figure by any measure. This increase occurred in the year […]
HM Revenue & Customs (HMRC) has recently launched a consultation on new rules aimed at simplifying the reporting of salary advances. This change is expected to have a significant impact on employers, streamlining administrative processes and reducing costs. Under existing legislation, salary advances are treated as a payment on account of earnings. Employers are required […]
New research from the #SBS State of the Nation Roundtable report has revealed that 72 per cent of small and medium-sized enterprises (SMEs) feel they are surviving, rather than thriving. Fewer than one-third of small businesses have enough cash in hand to be able to keep their businesses afloat for more than six months, while […]
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