Changes in Taxes from April 2024 > Resources > Newsletter Changes to the High Income Child Benefit Charge The government announced the changes to the High Income Child Benefit Charge, and an increase to the threshold to £60,000 from 6 April 2024, with a taper up to £80,000. The charge will be 1% of the […]
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Navigating the 2024 Budget: Implications for Sustainability and Finance > Resources > Sustainability As April begins, it’s a critical time for businesses and individuals alike to reflect on the recent budget announcements and their potential impacts. The 2024 Budget has brought significant changes, particularly in the environmental, social, and governance (ESG) regulations, which are increasingly
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Key Changes to Construction Industry Scheme (CIS) Regulations > Resources > Newsletter We would like to inform you of significant upcoming changes to the Construction Industry Scheme (CIS) that will take effect from 6 April 2024. These changes aim to streamline processes and enhance compliance measures within the construction sector. Key Updates: 1. Gross Payment
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Maximising ISA Contributions Before the Year-End: A Guide for Tax-Efficient Savings > Resources > EIS & SEIS With the end of the fiscal year fast approaching in April, it’s essential for individuals to maximise their ISA (Individual Savings Account) contributions before the deadline. ISAs offer a tax-efficient way to save and invest, providing a range
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Navigating the Fiscal Landscape: Unlocking the Latest Tax Changes Affecting Individuals and Businesses > Resources > EIS & SEIS In a recent series of key tax announcements, the UK government has unveiled significant changes that are poised to impact personal taxes, business taxes, and tax administration across the board. These changes, backed by specific figures
The SEIS Scheme > Resources > EIS & SEIS Introduction to EIS relief The enterprise investment scheme (EIS) was introduced to encourage new equity investment in trading companies by providing tax incentives to investors. These incentives take the form of Income tax reduction Capital gains tax exemption and Capital gains tax deferral. Any company which
The SEIS Scheme > Resources > EIS & SEIS Introduction to the Seed EIS! In March 2011, the Government announced proposals to encourage equity investment in businesses with high growth potential by reforming the enterprise investment scheme (EIS) and Venture Capital Trusts. The legislation introduced a new relief, the ‘Seed Enterprise Investment Scheme’ for shares
Is a NEST Pension Right for You? > Resources > Newsletter There are lots of positives in relation to NEST pensions, but that does not mean it is the best option for you. There are also some significant negatives. Whether NEST is a good option for you depends on your personal circumstance! So, what are
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Understand Your Corporation Tax Rate > Resources > Newsletter From 1 April 2023, the main rate of corporation tax increases to 25%, but companies with sufficiently small profits will continue to pay only 19%. Under the new rules The small profits rate of 19 % will apply if a company’s relevant profits (referred to as
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Key Taxation Highlights – Spring Budget 2024 > Resources > Newsletter National Insurance Contributions (NICs) Reduction – Employee NICs rate cut from 10% to 8%, starting April 6, 2024 – Self-employed main rate Class 4 NICs reduced from 9% to 6% – Abolition of the Class 2 NIC requirement for the self-employed High-Income Child Benefit
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Financial Services Limited and Quilter Mortgage Planning Limited > Resources > Newsletter If you have a high attitude to risk and a high-income tax bill, VCT and EISs may be appropriate for you given their significant tax benefits! Venture Capital Trusts (VCTs) and Enterprise Investment Schemes (EIS) are complex tax planning products designed to encourage
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End of Tax Year is approaching! > Resources > Newsletter With 5th April rapidly approaching, now is a great time to review your investments and tax position. If you want to pay less Corporation Tax get in touch today! Pension contribution are a great way to save tax and invest for the long term! We
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📢 HMRC’s Latest Campaign: A Spotlight on Dividends 📢 > Resources > Newsletter HMRC is cracking down on company directors suspected of not declaring their taxable income from dividends. If you’re receiving dividends, it’s time to pay attention! HMRC is sending letters to company owners as a friendly nudge to declare any dividend income that
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Business Rates > Resources > Newsletter Business rates are charged on most non-domestic properties, like: – Shops – Offices – Pubs – Warehouses – Factories – Holiday rental homes or guest houses You’ll probably have to pay business rates if you use a building or part of a building for non-domestic purposes. What to pay
VAT Input Tax: Regulation 111 > Resources > Newsletter How to treat Input Tax: Pre-registration, Pre-incorporation and Post-deregistration claims to Input Tax under Regulation 111? Background Only a person who is already registered for VAT can exercise the right to deduct input tax. However, there are certain circumstances before registration and after deregistration when relief
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Overseas Workday Relief > Resources > Newsletter Earnings from employment that you earn in a year for which you are resident in the UK are taxable in the UK when you receive those earnings. During the tax year, the earnings which relate to duties you perform overseas in that year are foreign earnings if: 1.
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Do you need to complete a Self-Assessment tax return this year? > Resources > Newsletter Taxpayers may need to complete a tax return if they: Are newly self-employed and have earned more than £1,000. Have multiple sources of income. Have received any untaxed income, for example earning money for creating online content. Earn more than
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