If you have taxable income of less than £17,570 in 2024-25 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of the interest is taxable) to the current £12,570 personal allowance. In addition, there is a Personal Savings Allowance […]
As we have mentioned in previous posts, Companies House have been tasked with introducing a number of changes introduced by the Economic Crime and Corporate Transparency Act 2023 (ECCT Act), that came into force on Monday 4 March 2024. Changes introduced 4th March include: greater powers to query information and request supporting evidence; stronger checks […]
Tax Diary March/April 2024 1 March 2024 – Due date for Corporation Tax due for the year ended 31 May 2023. 2 March 2024 – Self-Assessment tax for 2022-23 paid after this date will incur a 5% surcharge unless liabilities are cleared by 1 April 2024, or an agreement has been reached with HMRC under […]
Spring Budget 2024 Unveiled by Chancellor Jeremy Hunt – by Simon Wilkinson, Director, Botting & Co Overview of the Spring Budget 2024 Highlights The chancellor, Jeremy Hunt unveiled the Spring Budget 2024 in what is likely to be the last financial/fiscal event of this parliament before the next election, although is possible that there will […]
As expected, the Chancellor has found wriggle room in his fiscal rules that have allowed him to please his fellow Conservatives by reducing the impact of taxation. Not an unfamiliar tactic for a government in a general election year. The impact of tax changes announced are summarised below. Impact on personal finances […]
In a previous blog post we outlined the importance of reviewing your income before the end of the current tax year. The message was a simple one, any meaningful planning has to be implemented – for 2023-24 – before 6 April 2024, the end of the tax year. A similar deadline applies to business planning, […]
More than 38,000 pubs will benefit from the six-month freeze on alcohol duty from 1 February 2024. According to HM Treasury: The great British pub receives further boost from I February as a six-month alcohol duty freeze to 1 August 2024 takes effect. This tax saving will help support around 38,175 pubs to face rising […]
