by admin | Sep 5, 2024 | Uncategorized
Business Asset Disposal Relief (BADR) applies to the sale of a business, shares in a trading company, or an individual’s interest in a trading partnership. When this relief is available, a reduced Capital Gains Tax (CGT) rate of 10% is applied instead of the...
by admin | Sep 5, 2024 | Uncategorized
If you turned 18 on or after 1 September 2020, there may be cash waiting for you in a dormant Child Trust Fund (CTF). If your children recently turned 18 you should check to see if they have claimed the money, to which they are entitled. Children born after 31...
by admin | Sep 5, 2024 | Uncategorized
The deadline for submitting paper self-assessment tax returns for the 2023-24 tax year is 31 October 2024. If the return is submitted late, a £100 penalty will be imposed, regardless of whether there is a tax liability or if any owed tax is fully paid by 31...
by admin | Sep 5, 2024 | Uncategorized
There are late filing penalties which are designed to encourage companies to file their accounts and reports on time. All companies, private and public, large or small, trading or non-trading must send their accounts to Companies House. A penalty is automatically...
by admin | Sep 5, 2024 | Uncategorized
Most self-employed people are required to pay Class 4 National Insurance contributions (NICs) if their profits are £12,570 or more a year. Class 4 NIC rates for the tax year 2024-25 are 6% for chargeable profits between £12,570 and £50,270 plus...
