Tax Refund Scams have become common in recent years. For example, HMRC received more than 130,000 reports about tax scams in September 2023, whilst almost 60,000 people were approached and offered fake tax rebates from fraudulent sources. Avoid falling for these scheming fraudsters’s tricks by being aware of these 3 clear signs. In conclusion, If …
Jeremy Hunt’s recent Budget announcement unveiled several changes impacting taxpayers, businesses, and households alike. From tax cuts to adjustments in benefits and investments, here’s a breakdown of what these updates mean for you: Taxation: ● National Insurance, a payroll tax, cut by 2p in the pound for employees and the self-employed● Salary thresholds for income …
Unpacking the Spring Budget 2024: What You Need to Know Read More »
Payroll year end is not to be confused with PAYE. Every year, after your last pay run but before 19 April, you’ll need to send specific information to HMRC. Here’s a step-by-step guide to ensure a smooth transition and avoid common pitfalls. 1. Check The End Date of Your Payroll. Payroll may extend beyond week …
Are You Prepared for Payroll Year-End? (Payroll Deadlines) Read More »
On January 27, 2022, HMRC and the government proposed changes to basis period reform rules starting in April 2024, in response to feedback from BDO and others. These changes aim to address unfair impacts, yet they may still lead to accelerated tax obligations for many partnership members. Who’s Affected? This reform affects self-employed traders, partners …
Basis Period Reform: what does it mean for unincorporated businesses and LLPs? Read More »
Starting April 2024, there are new rules for calculating holiday entitlement and pay for workers with irregular hours (like zero-hours workers) and part-year staff (such as term-time employees).
The Government recently announced rule changes for holiday entitlement and holiday pay for irregular hour workers and part-year workers. These changes are expected to come into effect for holiday years which begin on or after 1 April 2024.
2024 is set to be an active time for employment law changes and this will come with some financial impact to organisations. April, July and October will see some important changes that you might want to keep a note of. Keep reading to find out what they are, when they are, and how they might …
Are you making the most of your pensionable allowances? As a business owner, it’s more important than ever to make the most of your pensions and ISAs ahead of tax year-end. If you want to enjoy retirement at a young age, it’s becoming clearer that you’ll have to rely on more than the State Pension. …
Making the Most of your Pensionable Allowance: Strategy for Business Owners In 2024 Read More »
In the ever changing world of business, time and resources are often in short supply. Companies, particularly SMEs, often find themselves juggling multiple tasks, from managing their core operations to handling administrative responsibilities. One of the most critical but time-consuming aspects of business operations is payroll management. This is where outsourcing payroll services can be …
The Benefits of Outsourced Payroll Services: A Key to Success for Businesses Read More »
The self-assessment tax deadline is the 31st of January… Are you ready?
