NON-DOM STATUS – MAJOR CHANGES AHEAD
Source: Insight-Analysis Please find the link below, which explains the future changes to non-dom status. https://acrobat.adobe.com/id/urn:aaid:sc:EU:3829aead-f1ee-4825-9c01-04e520037e3d
Author Archives: Pauline
2025 to 2026 student and postgraduate loans thresholds and rates
Source: HMRC Department for Education announced the new student loan plan type and postgraduate loan thresholds and rates from 6 April 2025: plan 1 — £26,065 plan 2 — £28,470 plan 4 — £32,745 postgraduate loan — £21,000 Deductions for: plan type 1, 2 and 4 remain at 9% for any earnings above the respective
PAYE
Source HMRC Employer National Insurance contributions and Employment Allowance changes announced at Autumn Budget 2024 At Autumn Budget 2024, the government announced changes to employer National Insurance contributions (NICs). The changes that will take effect from 6 April 2025 are: a reduction in the NICs secondary threshold an increase to the rate of secondary Class 1 NICs an
Please be aware of the fake VAT emails doing the rounds
We are conducting a random compliance review of VAT accounts to maintain the integrity of our processes. Your account has been selected for this review. Please ensure all VAT details are accurate and provide any missing information at your earliest convenience. If you require help, our team is ready to support you. If you do
Furnished Holiday Lets – changes from April 2025
There are significant changes coming into force in April 2025 for FURNISHED HOLIDAY LETS this useful download from OPTIMISE will give you more information Furnished Holiday Lets Tax Regime – FHL Changes 2025
VAT Flat Rate Scheme
Source: gov.uk Overview The amount of VAT a business pays or claims back from HM Revenue and Customs (HMRC) is usually the difference between the VAT charged by the business to customers and the VAT the business pays on their own purchases. With the Flat Rate Scheme: you pay a fixed rate of VAT to
Autumn Budget
Source – HMRC Today the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP, made her Autumn Budget speech and set out the government’s plans to restore economic stability and fix the foundations of essential public services. Measures announced today include a number of changes that employers should know, and may need to take
Autumn budget 2024
Source: TaxCalc Employer National Insurance Contributions changes There are a number of changes to Employer National Insurance Contributions (NICs), including: Reducing the Secondary Threshold (ST) from £9,100 annual equivalent to £5,000 annual equivalent, then increasing it in line with CPI from 2028-29. Increasing the Employer NICs (ER NICs) rate from 13.8% to 15% (over the
Beware – legally anyone can call themselves an Accountant
However, this does not mean that they are qualified for the task. Choosing an Account is not a task to undertake lightly. The term Solicitor, Independent Financial Adviser (IFA), Architect, these are protected, unlike the term Accountant, which is not protected. There are no restrictions for protection for the term Accountant, therefore, anyone can decide
This is a SCAM do not click any links and please report
This is a SCAM do not click any links and please report it to report@Phishing.gov.uk if you receive it. Error! Filename not specified. GOV.UK Error! Filename not specified. HM Revenue & Customs CONFIRM YOUR IDENTITY Email sent to: Your email address We need you to confirm your identity as soon as possible. Link removed This is
How to identify HMRC related scams
Source – HMRC Check what to look for first Use the following checklist to decide if the contact you’ve received is a scam. You can use it for phone calls, emails and text messages. It could be a scam if it: rushes you is threatening is unexpected asks for personal information like bank details tells
Find the VAT accounting scheme for you
Source: HMRC Whatever your knowledge of VAT may be – take advantage of our online help and support. Register for the following live webinars, during which you can ask questions using the on-screen text box: VAT – the basics and the VAT return During this live webinar, we’ll be discussing: • what VAT is and
Requesting changes to VAT registration details
Source – HMRC From 5 August 2024, any request to change your VAT registration details should be made using the VAT online account, and not by using the VAT484 form or any other postal or electronic means. Using the digital route is quicker, more secure and will avoid any unnecessary delays. For customers that are
Taking money out of a limited company
Source: Gov.uk How you take money out of the company depends on what it’s for and how much you take out. Salary, expenses and benefits If you want the company to pay you or anyone else a salary, expenses or benefits, you must register the company as an employer. The company must take Income Tax
Update on how to change your VAT registration details
Source – HMRC From 5 August 2024, any request to change your VAT registration details should be made using the VAT online account, and not by using the VAT484 form or any other postal or electronic means. Using the digital route is quicker, more secure and will avoid any unnecessary delays. For customers that are
Basis Period Reform — reporting on a tax year basis
Source – HMRC From April 2024, if you are self-employed or in a trading partnership, you will have to report your profits on a tax year basis. If you do not already do so, you will need to declare your profits from the end of the previous accounting period in 2022 to 2023 up to
How National Insurance has changed in 2024
Source: Sage Learn about the changes to National Insurance that are occurring in 2024 for employees and those who are self-employed. Following announcements by the government, there are changes in National Insurance occurring in 2024 for both employees and those who are self-employed. In this article, we detail the changes, and cover what employers and
HMRC tax inspection: How small businesses can prepare
Source: Sage Avoid getting blindsided by an HMRC tax inspection. Read on to find out the ways your business can prepare for one. The thought of being investigated by HMRC leaves many business owners with a sense of dread. But it doesn’t have to be that way. Often, that fear comes from not understanding the
Changes to UK company law: changes to our fees
Source: Companies House We increased some of our fees on 1 May 2024. Companies House fees are set on a cost recovery basis. This means our fees must cover the cost of the services we deliver. We do not make a profit on our fees. Our fees fund our ongoing operations and new activities
New rules for company names
Source: Companies House We’re running stronger checks on company names which may give a false or misleading impression to the public. This will help us improve the accuracy and quality of the data we hold and help tackle the misuse of company names. Our new powers to challenge and change company names We can now
New rules for registered office addresses
Source: Companies House Under the Economic Crime and Corporate Transparency Act, there are new rules for registered office addresses. Companies must now have an ‘appropriate address’ as their registered office at all times. An appropriate address is one where: any documents sent to the registered office should be expected to come to the attention of
Changes to UK company law: improving the quality of data on our registers
Source: Companies House Improving the quality of data on our registers One of the key aims of the Economic Crime and Corporate Transparency Act is to improve the accuracy and quality of the data on our registers, to help tackle economic crime and drive confidence in the UK economy. Companies House has new and enhanced
Companies House are increasing their fee from £13 to £34 in May
Companies house are increasing their fee from £13 to £34 in May Companies House are increasing their fee from £13 to £34 in May – anyone wishing to file before the increase can do.
Beware – legally anyone can call themselves an Accountant
However, this does not mean that they are qualified for the task. Choosing an Account is not a task to undertake lightly. The term Solicitor, Independent Financial Adviser (IFA), Architect, these are protected, unlike the term Accountant, which is not protected. There are no restrictions for protection for the term Accountant, therefore, anyone can