Happy new tax year
In this April issue we highlight some of the key tax changes that take effect from the start of the new tax […]
Month: March 2024
Many couples may need to restart child benefit claims
The changes to the High Income Child Benefit Charge (HICBC) announced in the Spring Budget have now been incorporated into the latest […]
Should you use cash accounting?
Cash accounting was introduced as a measure to make it simpler for small businesses to prepare their accounts for tax purposes. It […]
Changes to the basis of assessment
The method of taxing the profits of unincorporated businesses changed significantly in 2023/24 and will also change from 2024/25 onwards. This was […]
HMRC publish more details of MTD for income tax reports
Making Tax Digital for income tax self-assessment is scheduled to commence in 2026/27 for sole traders and property landlords with gross income […]
Changes to furnished holiday lettings from 6 April 2025
As announced in the Spring Budget, the beneficial tax treatment of furnished holiday lettings (FHLs) will be abolished from 6 April 2025, […]
Camping pods may qualify for capital allowances
A recent case before the First Tier Tribunal will be of interest to businesses operating campsites and also farmers who have diversified […]
Get ready for more R&D changes
On top of the major changes to research and development (R&D) tax relief that took effect from 1 April 2023 there are […]
Diary of main tax events April/ May 2024
Date What’s Due 1/04 Corporation tax payment for year to 30/6/23 (unless quarterly instalments apply) 5/04 End of 2023/24 tax year. 2024/25 […]
TWP Chartered Accountants urges SMEs to brace for flurry of payroll changes
Surrey-based accountancy firm TWP has issued a word of warning to SMEs and independent businesses as the payroll tide turns once more […]
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