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Articles20 Dec 2023
National insurance contribution (NIC) changes for the self-employed announced in the Autumn Statement come in from 6 April 2024 and will be welcome news. But the reforms don’t go far enough to offset the continuing cost of frozen tax thresholds
Articles18 Oct 2023
State pension increases could be outpacing inflation next April, and there’s no guarantee of the Triple Lock surviving the next election.
Articles3 Oct 2023
The concession allowing for an extension of the National Insurance Contributions (NIC) payment deadline has been further extended, giving taxpayers an additional 22 months to boost the amount of state pension they will be entitled to claim. Many individuals are... Read more
Articles13 Sep 2023
HMRC is chasing taxpayers who have submitted tax returns for 2021/22 containing unresolved provisional figures, while also extolling the benefits of filing early for 2022/23.
Articles12 Aug 2023
Although the lifetime allowance was effectively abolished from April 2023 as the lifetime allowance charge was removed, it has been retained on statute for a year to allow time for the intricacies to be ironed out. Draft legislation, to take effect from 6 April 2024, has now been published.
Articles14 Jun 2023
Now that the Trust setup has been successfully completed and the Trust has been registered with HMRC, you now need to address the important accompanying accounting and tax compliance obligations
Articles23 May 2023
If you are self-employed, the new tax year may be longer than you think. If you are self-employed, until 2023/24, you have normally been taxed on the profits made in the accounting year that ends in the tax year. For... Read more
Articles14 Apr 2023
With basis period reform now underway, HMRC is looking at further tax simplification for sole traders and partnerships by increasing the cash basis turnover threshold. The cash basis scheme removes complexities such as accruals and most capital allowances. The cash... Read more