Have you missed the 31 January 2024 filing deadline for your 2022-23 self-assessment return?

If you have missed the filing deadline, then you will be charged a £100 fixed penalty if your return is up to 3 months late, regardless of whether you owed

The coding out threshold may entitle you to have tax underpayments collected via your tax code when you are in employment or in receipt of a company pension. Instead of paying off debts in a lump sum, money is collected in equal monthly instalments

The VAT Cash Accounting Scheme can offer useful benefits to small businesses. Under standard VAT accounting, VAT is payable on sales whether or not the customer has paid and can lead to claims for Bad Debt Relief. By using the VAT Cash Accounting

HMRC’s guidance is clear that where a capital sum is derived from an asset, the relevant legislation treats the owner as having made a disposal for capital gains purposes.

The legislation contained in s22 TCGA92 states that there is:

“…..a

There is an online tool that allows taxpayers to check if they need to notify HMRC about additional income. The online tool can be found at www.gov.uk/check-additional-income-tax.

This could include money earned from sources such as:

selling

Companies House have issued an update on their first implementation of changes brought about by The Economic Crime and Corporate Transparency Act. We have copied in the relevant comments made in a recent blog post.

Companies House are aiming to

Leaving aside tax planning issues all businesses should be considering business planning opportunities if they presently have an accounting year end date of 31 March 2024.

For example:

Do directors need to review year end bonuses or final

Employers generally use payroll software or other payroll services to record employees pay, deductions and National Insurance contributions on or before each payday. They also need to consider other deductions such as pension contributions and