by admin | Dec 14, 2023 | Uncategorized
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. If you are using this scheme, you should ensure that rents received from lodgers during the current tax year do no exceed £7,500. The tax exemption is...
by admin | Dec 14, 2023 | Uncategorized
When a new employee is added to the payroll it is the employer's responsibility to ensure they meet the employee's rights and deduct the correct amount of tax from their salary. HMRC’s guidance lists the following requirements that an employer...
by admin | Dec 14, 2023 | Uncategorized
A reminder that the main rate of Class 1 Employee National Insurance contributions (NIC) will be reduced from 6 January 2024. This change will see Class 1 NICs reduced by 2% from 12% to 10% in a change set to benefit some 27 million employees. This reduction will only...
by admin | Dec 14, 2023 | Uncategorized
The annual exempt amount applicable to Capital Gains Tax (CGT) is to be halved from April 2024. This means that the exempt amount will be reduced from £6,000 currently, to £3,000 from April 2024. The exempt amount was as high as £12,300 2022-23....
by admin | Dec 14, 2023 | Uncategorized
1 January 2024 – Due date for Corporation Tax due for the year ended 31 March 2023. 19 January 2024 – PAYE and NIC deductions due for month ended 5 January 2024. (If you pay your tax electronically the due date is 22 January 2024). 19 January 2024 –...
