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Tax Diary June/July 2024
07-05-241 June 2024 - Due date for corporation tax due for the year ended 31 August 2023. 19 June 2024 - PAYE and NIC deductions due for month ended 5 June 2024. (If you pay your tax electronically the due date is 22 June 2024). 19 June 2024 - Filing… Read more..
Cyber protection laws introduced
07-05-24New consumer protections against hacking and cyber-attacks came into force at the end of April 2024. All internet connected smart devices will be required by law to meet minimum-security standards. Manufacturers will be legally required to protect… Read more..
New Companies House powers
07-05-24The recently introduced Economic Crime and Transparency Act has gifted Companies House a range of new powers aimed at reducing exploitation by corporate entities to pursue illegal enterprise. The aim of the new reforms are: Introducing identity… Read more..
VAT boost to charitable donations
02-05-24The government is looking to introduce a new relief that would provide a VAT boost to charitable donations. The new VAT relief would be designed to encourage businesses to donate everyday items to charities without creating a VAT liability. A 12-week… Read more..
New tips guidance published
02-05-24New rules that stop employers from withholding tips from people working in the hospitality, leisure and services sectors are a step closer following the publication of a new Code of Practice on tipping. The Employment (Allocation of Tips) Act 2023… Read more..
Self-employed tax basis period reform
02-05-24The self-employed tax basis period reform has changed the way trading income is allocated to tax years. Under the reforms, the tax basis period has changed from a ‘current year basis’ to a ‘tax year basis’. This means that all sole trader and… Read more..
Directors who are liable for unpaid tax
02-05-24HMRC has the power to make directors personally liable for paying the tax debts of companies they have been involved in under certain limited circumstances. This can also apply to certain other individuals associated with a company. A joint and… Read more..
Business rates relief in England
02-05-24Business rates are a tax on non-domestic premises, including most commercial properties such as shops, offices, pubs, warehouses and factories. The money raised through business rates is used to help fund local services like the police, fire and… Read more..
Hiring customs agents
02-05-24Customs declarations can be difficult and time consuming to complete. Businesses can make their own custom's declarations; however, this is complex and requires specialist skills and software. Most businesses use a specialist such as a customs… Read more..
Free management course for SMEs
30-04-24The government has launched the new Help to Grow: Management Essentials course; a short online course with practical tips and resources for small business leaders. It is based on the 12-week Help to Grow: Management Course and is suited for leaders… Read more..
Post Office Offences Bill to be extended
30-04-24The Government has tabled amendments to expand the territorial extent of the Post Office Offences Bill. Convictions resulting from the Post Office Horizon scandal in Northern Ireland will now be within scope. This blanket exoneration will… Read more..
Childcare Account chores
25-04-24HMRC’s Childcare account can be used to claim free childcare (if eligible) or pay for Tax-Free Childcare. HMRC’s sign in page for the account states that in order ‘…to keep getting free childcare or Tax-Free Childcare, you must sign in every 3 months… Read more..
