Tax Tips and News

• Treasury collects £10bn extra in Business taxes

  Newsletter issue – May 2024 It has been revealed that companies across the UK have paid £95.2 billion in Business taxes in the financial year just finished (23/24) - a rise of £10.3 billion compared to the year before. These taxes include receipts from Corporation Tax, Petroleum Revenue Tax, Bank Levy, Bank Surcharge, Diverted Profits…Read More

• Tax penalty fears for pensioners as millions ‘dragged into net’

  Newsletter issue – May 2024 Baroness Ros Altmann, a leading campaigner on pensions, has highlighted her fears after figures showing that the number of pensioners liable for tax have doubled in the last 14 years. The number has risen to over 9 million, compared to just 4.5million back in 2010. She said the stats were…Read More

• New employment rights kick in

  Newsletter issue – May 2024 Business owners need to be aware of a batch of new laws that have just taken effect covering employees' rights. There are new protections for pregnant women and new parents facing redundancy. And workers are also getting more flexibility over where and when they work. New laws are said to…Read More

• HMRC helpline axe saga rumbles on as closure looms again

  Newsletter issue – May 2024 The saga over whether HMRC will axe its tax helpline continues to rumble on, with the latest comments suggesting it may still close after all. HMRC had to back down from a proposal that would see the Self-Assessment line closed from 8 April to 30 September, following widespread pressure and…Read More

• May Questions and Answers

  Newsletter issue – May 2024 Q: I've started a new job quite recently with a hybrid working arrangement. I work from home 3 or 4 days per week, so that is my main place of work. However, I do have a significant journey - it takes more than two hours when I do go in.…Read More

• May Key Dates

  Newsletter issue – May 2024 5th Companies House fees are increasing due to the recent introduction of the ECCTA. It will cost £50 to incorporate a company online - an increase from £12. The cost of filing a confirmation statement will go up to £34 (from £13). 5th Deadline for a 2024/25 tax credits claim to be…Read More

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