A new ‘failure to prevent fraud’ offence is being introduced by the Government to encourage businesses to do more to deter offending, which will ultimately protect themselves, consumers, and other…
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Striking the perfect balance: Director’s salary and dividends for 2023/24
As a business owner, determining the ideal salary for company directors can be tricky. Often, most directors will want to balance their salary and dividend payments to be as tax…
683,000 higher rate taxpayers opt out of child benefit as thresholds remain frozen
The High Income Child Benefit Charge (HICBC) was introduced in 2013 and was set up to charge tax on individuals claiming child benefits who were earning a yearly income in…
Landlords are latest group targeted by HMRC ‘nudge’ letters
Residential landlords are the latest group to have been targeted in receiving ‘nudge’ letters from HM Revenue & Customs (HMRC). The letters are part of a targeted ‘nudge’ campaign from…
What is the Residence Nil-Band Rate? And why does it matter to you?
The Residence Nil Band Rate (RNRB) was introduced by the Government in 2017 and benefits families passing on their main property to a direct descendent. Since its introduction, millions of…
Fiscal drag bites on earners
Changes to personal tax allowances and higher interest rates have seen a growing number of people being affected by fiscal drag. Fiscal drag is the phenomenon where taxpayers are pushed…
Changes to the repayment of Student Loans begin in August
The way in which Student Loans are repaid is changing and employers need to be prepared. Currently, graduates and students who have taken out student loans are required to repay…
P11D – Are you ready to report and pay tax on Benefits in Kind?
Benefits in Kind (BIK) cover a number of different perks or additional payments made by employers to their employees. They can include any of the following: Private Healthcare Loans Company…
Government announces shakeup in the payment of Benefits in Kind
The Government has announced a shake-up in how Benefits in Kind (BIK) are paid. The move will allow tax agents to run payroll BIK on behalf of clients for the…
Be prepared for business rate changes as rateable value update takes effect
The Valuation Office Agency (VOA) has updated the rateable values of all businesses, and other non-domestic, properties in England and Wales from 1 April 2023. The Government levies the charge…
