Helping individuals and businesses succeed since 1994

The Chancellor, Rachel Reeves, delivered the 2024 Autumn Budget on Wednesday 30th October, the link below will give you all the information and key points. If you wish to discuss any of the contents with one of our team, please contact the office on (01623) 420269.

The company car fuel rates are reviewed and adjusted each quarter on:

1 March
1 June
1 September
1 December

If you receive tips on ‘more than an occasional’ basis, there is new legislation which is effective from October 2024, that you need to be aware of. By more than occasional, HMRC seem to deem a few tips a year as occasional and so if your business receives tips more than this, you need to […]

Hopefully you are already aware that HMRC have introduced legislation that requires certain individuals to keep and submit electronic records on a quarterly basis, for their business / rental income. MTD comes in to force from 6 April 2026 if your turnover / rental income or both added together exceed £50,000 and from 6 April […]

This guide is designed to provide you with an overview of the key tax rules from seven perspectives – that of the family; the employee; the person running their own business; the taxation of investments; disposals and CGT; property matters; and, finally, the potential liability on your estate at death. We hope you will find […]

The company car fuel rates are reviewed and adjusted each quarter on:

1 March
1 June
1 September
1 December

Don’t get caught out by scam contacts posing as HMRC! HMRC have updated their guidance with examples of related phishing emails, suspicious phone calls and texts to help individuals identify when they are being scammed. Follow the link below. https://www.gov.uk/government/publications/phishing-and-bogus-emails-hm-revenue-and-customs-examples/phishing-emails-and-bogus-contact-hm-revenue-and-customs-examples

Please visit our tax rates guide to check the tax rates you are using from the 6 April 2024 are the correct ones.

Due to changes announced in the Budget, if you/your partner currently have a Child Benefit claim in place but are not actually receiving the payments as one parties income is over £60K (and you would have to pay it back in full via the HICBC), you may wish to look at restarting payments from April […]

Since changes to National Insurance bands for employees, it is marginally better for directors to have a salary up to the Personal Allowance rather than the lower amount we previously advised (below the employer’s secondary National Insurance threshold). This is the case regardless of whether Employers National Insurance ends up being payable because the Employers […]

If you pay a car allowance to employees, this has always been treated as fully liable to tax and National Insurance. However, following two recent court cases which went against HMRC the approach has changed. Note this applies for National Insurance only, not tax.  It applies where the mileage rate paid for business miles travelled […]

Within the next couple of weeks we will be mailing all our clients inviting them to join/renew the tax enquiry scheme. For more information please click here.