TAX DIARY SEPTEMBER/OCTOBER 2023

Date What’s Due 1 September Corporation tax for year to 30/11/22 unless paid by quarterly instalments. 19 September PAYE & NIC deductions, and CIS return and tax, for month to 5/9/23 (due 22 September if you pay electronically). 1 October Corporation tax for year to 31/12/22 unless paid by quarterly instalments. 5 October Deadline for […]

Read More

EMPLOYEE FINANCIAL WELLBEING

Businesses are starting to realise the importance of helping employees feel secure about money. In the current economic environment, many businesses are acknowledging the profound impact of employee financial wellbeing on overall productivity and job satisfaction. A cornerstone of this effort lies in the provision of financial literacy resources. Businesses are stepping up to the […]

Read More

ADVISORY FUEL RATE FOR COMPANY CARS

The table below sets out the HMRC advisory fuel rates from 1 September 2023. These are the suggested reimbursement rates for employees’ private mileage using their company car. Where the employer does not pay for any fuel for the company car these are the amounts that can be reimbursed in respect of business journeys without […]

Read More

MERGER OF R&D TAX RELIEF SCHEMES

The government have issued draft legislation for consultation on the proposal to merge the two forms of corporation tax relief for expenditure on research and development (R&D) For expenditure incurred on or after 1 April 2024, it is proposed that the two schemes providing for R&D relief – R&D expenditure credit (RDEC) and Credit Relief […]

Read More

MANAGING KEY PERSON RISK

Managing key person risk should be an integral part of any well-rounded business strategy. Key person risk entails the potential disruption and uncertainty that can arise when an essential team member, often possessing distinctive skills, knowledge, or influence, is suddenly incapacitated and unable to contribute to the functioning of the business. Effectively managing key person […]

Read More