News and Comment - Page 11 of 101 - Whitefield Tax - Isle of Wight Accountants

Tax Implications of Incorporation and Director Salary Levels for Small Businesses – Changes from Autumn Budget 2024

by Jessica Garbett | Nov 17, 2024 | budget, business taxation

Earlier this year we published two articles looking at how cumulative changes to small business taxation in recent budgets, notably NI changes and increases in Corporation Tax, impacted taxation for small businesses, The first of these articles looked at the tax...

ACCA – Economic Crime and Corporate Transparency Bill becomes law

by Jessica Garbett | Nov 14, 2024 | ACCA, business issues

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Companies House has set out changes as a result of the new act In its recent blog, Companies House has summarised the new objectives for the...

ACCA – Companies House reform and identity verification

by Jessica Garbett | Nov 14, 2024 | ACCA, business issues

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Significant changes are coming to identity verification as part of major reforms The Economic Crime and Corporate Transparency Act (2023)...

ACCA – VAT compliance controls – HMRC Guidelines

by Jessica Garbett | Nov 12, 2024 | ACCA, business issues, business taxation, VAT

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Good practice in relation to VAT accounting and compliance processes Guidelines have been issued by HMRC for UK VAT-registered businesses who...

ACCA – Reporting requirements for online marketplaces

by Jessica Garbett | Nov 6, 2024 | ACCA, business taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA What businesses need to know HMRC has released guidance regarding new rules for online marketplaces that require them to report the details...

Making Tax Digital – Changes in Autumn Budget 2024

by Jessica Garbett | Nov 5, 2024 | ACCA, business issues, business taxation

Autumn Budget 2024 brought a further announcement regarding Making Tax Digital for Income Tax Self Assessment: “The government is committed to delivering Making Tax Digital (MTD) for income tax Self Assessment. The government will expand the rollout of MTD to...

Business Property Relief and Agricultural Property Relief – Changes in Autumn Budget 2024

by Jessica Garbett | Nov 4, 2024 | budget, business taxation, capital taxation

The recent Autumn Budget has seen changes to the Inheritance Tax Business Property and Agricultural Property Reliefs (BPR and APR respectively). There has been a but of noise about this in the media, played out as “unfair to farmers” – lets take a...

High Income Child Benefit Charge – Changes in Autumn Budget 2024

by Jessica Garbett | Nov 4, 2024 | budget, personal finance, personal taxatation

In the small print of the Autumn Budget 2024 were some changes to HIBC: “The government will not proceed with the reform to base the HICBC on household incomes. This is because it would have come at a significant fiscal cost of £1.4 billion by 2029-30 if setting...

Double Cab Pickups – Change in Autumn Budget 2024

by Jessica Garbett | Nov 4, 2024 | budget, business issues

A few months ago we wrote about a bizarre situation where HMRC announced the reclassification of Double Cab Pick-ups as Cars rather than Commercial Vehicles, only to reverse the announcement a week later – see Double Cab Pick-ups – Changes Announced and...

ACCA – Autumn Budget 2024: tax rates and allowances

by Jessica Garbett | Nov 4, 2024 | ACCA, budget, business taxation

Income tax rates: England, Wales & Northern Ireland (non-dividend income) (note 1) 2025/26 2024/25 0% starting rate for savings only Up to £5,000 Up to £5,000 0% on personal allowance (subject to any clawback of PA) £0 – £12,570 £0 – £12,570 20% basic...

ACCA – Budget 2024 Guide to Stamp duty land taxes: UK

by Jessica Garbett | Nov 4, 2024 | ACCA, budget, business taxation

Stamp duty land taxes: UK ENGLAND & NORTHERN IRELAND: STAMP DUTY LAND TAX (SDLT) RATES Residential properties: 23 September 2022 – 30 October 2024 Property value UK residents Non-UK residents Only property Additional property Only property Additional...

ACCA – Review of 2024 Budget

by Jessica Garbett | Nov 4, 2024 | ACCA, budget, business taxation

A guide to the Autumn Budget 2024 The headline message from the Chancellor The Chancellor delivered her long-awaited Budget highlighting reform of tax systems, public spending and tax increases, including Employers’ NIC. As with previous Budgets we will see a number...

Autumn 2024 Budget – A First Look

by Susan Albest | Oct 30, 2024 | budget, business taxation, capital taxation, personal taxatation, VAT

It is some time since a Budget was as hotly anticipated as today’s – the first under a Labour Government in 14 years, and against a backdrop of what is claimed to be a large “black hole” in the nations finances, of £22bn or £40bn depending on...

Scam Letters from Companies House

by Jessica Garbett | Oct 23, 2024 | business issues

Recently we had a batch of scam letters arrive at our office for a selection of clients, sent to us as their Registered Office. These letters were purportedly from Companies House and referred to a “Payment Code Number”. At first glance they looked...

ACCA – HMRC’s One to Many letters for non-submission of tax returns

by Jessica Garbett | Oct 21, 2024 | ACCA, business taxation, enquiries and tax disputes

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA HMRC’s One to Many (OTM) letters for non-submission of tax returns are a key tool in the tax authority’s communication strategy....

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Next Entries »

Tax Implications of Incorporation and Director Salary Levels for Small Businesses – Changes from Autumn Budget 2024

ACCA – Economic Crime and Corporate Transparency Bill becomes law

ACCA – Companies House reform and identity verification

ACCA – VAT compliance controls – HMRC Guidelines

ACCA – Reporting requirements for online marketplaces

Making Tax Digital – Changes in Autumn Budget 2024

Business Property Relief and Agricultural Property Relief – Changes in Autumn Budget 2024

High Income Child Benefit Charge – Changes in Autumn Budget 2024

Double Cab Pickups – Change in Autumn Budget 2024

ACCA – Autumn Budget 2024: tax rates and allowances

ACCA – Budget 2024 Guide to Stamp duty land taxes: UK

ACCA – Review of 2024 Budget

Autumn 2024 Budget – A First Look

Scam Letters from Companies House

ACCA – HMRC’s One to Many letters for non-submission of tax returns

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