News

Post Office convictions quashed

28/05/2024

Convictions of hundreds of postmasters have been quashed following Royal Assent of the Post Office (Horizon System) Offences Act 2024. Many postmasters endured financial ruin, the loss of homes, livelihoods, reputation and some even lost their lives as a result of the Horizon IT Scandal which is one of the greatest miscarriages of...

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Benefits of a fall in inflation

28/05/2024

An economist from the Treasury explains exactly what a fall in inflation means for you. How will lower inflation help the economy? Lower inflation supports people by maintaining the purchasing power of their money. If prices only rise slowly, people can plan their budgets more effectively - encouraging spending and investment,...

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Changes to Companies House Fees

23/05/2024

There have been a number of significant changes in Companies House fees. These changes took effect on 1 May 2024. The last significant change in fees occurred in April 2016. The new fees have been calculated on a ‘cost recovery’ basis meaning that the fees are calculated based on what it costs to provide the services in question....

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Tax credits reminder

23/05/2024

We would like to remind our readers that HMRC is currently sending the annual tax credit renewal packs to 730,000 tax credit claimants. HMRC is encouraging recipients to renew their tax credits claim online. HMRC started writing to taxpayers on 2 May 2024 and expects all packs to be with recipients by the 19 June 2024. Renewal packs...

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Reporting expenses and benefits to HMRC

23/05/2024

The deadline for submitting the 2023-24 forms P11D, P11D(b) and P9D is 6 July 2024. These forms can be submitted using commercial software or via HMRC’s PAYE online service. HMRC no longer accepts paper P11D and P11D(b) forms. Employees must also be provided with a copy of the information relating to them on these forms by the same date....

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VAT reverse charge for builders

23/05/2024

There are special VAT reverse charge rules for certain building contractors and sub-contractors. The rules, which came into effect on 1 March 2021, makes the supply of most construction services between construction or building businesses subject to the domestic reverse charge. The reverse charge only applies to supplies of specified...

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Tax when transferring assets during divorce

23/05/2024

When a couple is separating or is divorced it is unlikely that they are thinking about the tax implications of their actions. However, apart from the emotional stress, there are also tax issues that can have significant implications. The Capital Gains Tax (CGT) rules that apply during separation and divorce changed for disposals that...

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View your annual tax summary

23/05/2024

The Annual Tax Summary is a document provided by HMRC that shows details of the tax you pay and how this is used by government. The Annual Tax Summary shows: your taxable income from all sources that HMRC knew about at the time that it was prepared; the rates used to calculate your Income Tax and National Insurance contributions;...

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Universal Credit changes

20/05/2024

Universal Credit claimants working less than half of a full-time week will have to look to increase their hours but will be able to benefit from extra work coach support. These changes will see 400,000 Universal Credit claimants receive more help to progress in work. The changes come as the PM announces once in a generation welfare...

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Childcare funding for under 9-month-olds

20/05/2024

In a recent press release the Department for Education confirmed that parents of children from 9 months old can now apply to access government-funded childcare from September 2024, as England’s largest ever childcare expansion continues. From 12 May 2024, eligible working parents of children who will be 9 months old by 31 August can...

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