Companies House is introducing wide-ranging reforms – subject to new legislation being in place – from 4 March 2024. Directors need to get ready for the first tranche of measures. The reforms are being introduced…
HMRC, eBay and second-hand news
The media storm surrounding HMRC taxing eBay and other online sellers from the start of 2024 was, in fact, itself counterfeit goods. A crop of stories across social and traditional media swirled across the start…
Increased income – the double-edged sword
With tax bands and other thresholds frozen, taxpayers should be aware of the implications of their income increasing. Increased income can mean more than facing a higher tax bill. Higher rate taxpayers need to look…
Making Tax Digital Update: Small Business Review
The outcome from the Making Tax Digital (MTD) small business review is that MTD for income tax self-assessment (ITSA) will not be extended to those earning under £30,000 for the foreseeable future. MTD ITSA for…
New lease and advertising rules for landlords
If enacted in its current form, the recently published Leasehold and Freehold Reform Bill will affect landlords in England and Wales who own a leasehold property. Extending a lease The government’s intention is that the…
ISA reforms afoot from April 2024
Changes to individual savings account (ISA) rules coming into effect from 6 April 2024 will make ISAs more user friendly, most notably the move to allow multiple subscriptions of same-type ISAs in a tax year.…
Business rates relief: extensions and cuts
Last November’s Autumn Statement included a package of measures to help alleviate the burden of business rates in England and on the Scottish islands, but Wales won’t be so fortunate. 75% relief rules Retail, hospitality…
National Insurance Cut
Employee National Insurance cut announced in the Autumn Statement takes effect (from 6 January). For many years, successive governments have been happy for the public to vaguely believe that national insurance contributions (NICs) are building…
Getting a head start: retirement planning attitudes in 2023
A survey of 6,000 people, aged 18 to 80, revealed starkly different views on retirement across the generations. According to the Office for National Statistics, the median age of the UK population in mid-2021 was…
National Living and Minimum Wages increase
Minimum wage rates will see substantial increases from 1 April 2024 – welcome news for younger workers and apprentices, but not so much for those employers struggling in the current economic climate. Eligibility for the…