Welcome to the August 2023 Tax Update. In this edition we take a look the additional information required for R&D claims, Tax-Free Childcare Accounts, Company BBQs, Inheritance Tax, HMRC’s further interest rate rises, and this month’s events on the accounting horizon. If you need any help or advice on any…
The Valuation Office Agency (VOA) is urging businesses to protect themselves from rogue business rates agents. New rateable values for business properties came into effect in April 2023. Councils used these new values to calculate business rates bills. For more information, visit or recent insight – Business Rates List Closes…
Welcome to the July 2023 Tax Update. In this edition we take a look at Super Deduction’s replacement, the extended deadline for topping up NI contributions, the VAT flat rate scheme, working from home, school fees plans, and this month’s events on the accounting horizon. If you need any help…
Beware of e-mails that look as though they have come from HMRC offering a tax rebate! One of our clients has just brought to our attention an e-mail they have received that looks like it has come from HMRC, saying that after a recalculation, they could claim an amount back…
The UK Government is giving people more time to pay National Insurance contributions towards their State Pension. Taxpayers now have until 5th April 2025 to fill gaps in their National Insurance record from April 2006 that may increase their State Pension – an extension of nearly 2 years. Extending the…
In a call for evidence launched recently, the UK Government wants to hear views on Save As You Earn (SAYE) and the Share Incentive Plan (SIP), as it seeks to improve the schemes and expand their use by making it easier for businesses to set them up and offer them…
This weekend HMRC unexpectedly and with no prior warning, closed their Self-Assessment phone line until the 4th September. Please bear with us during this period, as it will be difficult to deal with any issues that need to be referred to HMRC. To visit our Self-Assessment Tax page CLICK HERE…
National Minimum Wage 2023 rate reminder for employers: Summer Staff All workers are legally entitled to be paid the National Minimum Wage (NMW). This includes temporary seasonal staff, who often work short-term contracts in bars, hotels, shops, and warehouses over the summer. The National Minimum Wage hourly rates from 1…
Welcome to the June 2023 Tax Update. In this edition we take a look at share options for employees, HMRC’s rate of interest, employee’s private fuel, advisory fuel rates for company cars, and this month’s events on the accounting horizon. If you need any help or advice on any of…
HMRC late payment interest rates to be revised after Bank of England increases base rate. The Bank of England Monetary Policy Committee announced on 11th May 2023 that it would increase the Bank of England base rate to 4.5% from 4.25%. HMRCÂ interest rates are linked to the Bank of England…