The deadline for filing the P11d forms to report benefits in kind in respect of directors and employees for 2022/23 is 6 July 2023. Note, however, that the original and amended reports must now be made online and paper returns will be rejected. Forms P11D and P11D(b) returns must be submitted online through one of […]
Make sure you keep Sunday 2 July free for Croydon’s popular Foodfest which takes place in South End, Croydon. Croydon’s celebrated Restaurant Quarter is transformed into an alfresco dining experience where locals and visitors come together to celebrate their love of great food and live music. The festival is organised by the South Croydon Business […]
The Government have announced a number of tax consultations on its Tax Administration and Maintenance Day, 27 April. These include measures designed to support the Government’s ambition to simplify and modernise the tax system, tackle non-compliance, make the tax system fairer for taxpayers and to make the customs system work better for traders. One of […]
Date What’s Due 01/05 Corporation tax payment for year to 31/7/22 (unless quarterly instalments apply) 19/05 PAYE & NIC deductions, and CIS return and tax, for month to 5/05/23 (due 22/05 if you pay electronically) 01/06 Corporation tax payment for year to 31/8/22 (unless quarterly instalments apply) 19/06 PAYE & NIC deductions, and CIS return […]
As a result of the pension reforms introduced by George Osborne which took effect from 6 April 2015, a drawdown pension fund has become an important part of estate planning. The fund itself is not subject to inheritance tax and, where the pensioner dies under the age of 75, there is no charge when the […]
The latest Finance Bill will legislate the announcement in the Spring Budget that the lifetime allowance (LTA) charge is abolished from 6 April 2023. Individuals will continue to be able to receive 25% of their pension savings as a tax-free lump sum when they become entitled to their pension benefits. From 6 April 2023, for […]
Our experience tells us that business owners are a resilient bunch and those that are the most successful are also flexible in their planning. Here are some of our recommended actions, based on what we have seen other clients doing recently to firm up their resilience to these tough times: Review your budgets and set […]
Like many other taxes, inheritance tax (IHT) allowances have been frozen and this is likely to remain in place until April 2028. It is estimated that as the value of estates rises, as many as 10,000 more estates could end up paying some inheritance tax. Data from HMRC has revealed that inheritance tax collected between […]
Employers should be aware that from April 2023 several statutory payment rates increase for the 2023-24 financial year. Statutory Maternity, Paternity, Shared Parental and Adoption Pay From Sunday 2 April 2023, Statutory Maternity Pay, Statutory Paternity Pay, Statutory Shared Parental Pay, Statutory Adoption Pay and Statutory Bereavement Pay all increased from £156.66 to £172.48 per […]
The main rate of corporation tax will increase from 19% to 25% on 1 April 2023. For businesses with accounting periods which straddle 1 April, profits will be time apportioned. Businesses with profits of less than £50,000 will continue to be taxed at 19%, for businesses with profits of between £50,000 and £250,000 a tapered […]
