1 October 2024 – Due date for Corporation Tax due for the year ended 31 December 2023. 19 October 2024 – PAYE and NIC deductions due for month ended 5 October 2024. (If you pay your tax electronically the due date is 22 October 2024.) 19 October 2024 – Filing deadline for the CIS300 monthly […]
Author Archives: Michael Couzens
To comply with the new digital platform regulations effective from 1 January 2024, platform operators must register with HMRC. Here are the key details regarding registration and reporting: Who Needs to Register: Any platform operator facilitating the sale of goods, services, accommodation, or transportation within the scope of the new regulations must register with HMRC […]
1 September 2024 – Due date for corporation tax due for the year ended 30 November 2022. 19 September 2024 – PAYE and NIC deductions due for month ended 5 September 2024. (If you pay your tax electronically the due date is 22 September 2024) 19 September 2024 – Filing deadline for the CIS300 monthly […]
HMRC’s Personal Tax Accounts (PTAs) serve as an online tool that enables taxpayers to view and update their information in real time. The PTA can be used for many routine requests and services and help you bypass the need to call or write to HMRC. Every individual in the UK that pays tax has a […]
Changes to the High Income Child Benefit Charge (HICBC) came into effect on 6 April 2024. The income threshold at which HICBC starts to be charged increased to £60,000 (from £50,000). The charge is calculated at 1% of the full Child Benefit award for every £200 (2023-24: £100) of income between £60,000 and £80,000. (2023-24: […]
Employees who are working from home may be eligible to claim a tax deduction on certain work-related bills. If their employer does not cover these expenses or allowances, they can claim tax relief directly from HMRC. You can claim tax relief if you are required to work from home, such as if your job requires […]
Pension Credits can provide extra income to those over State Pension age and on a low income. The credits were first introduced back in 2003 to help keep retired people out of poverty. The Department for Work and Pensions has launched a Pension Credit awareness drive, urging pensioners to check their eligibility for Pension Credit […]
If you have taxable income of less than £17,570 in 2024-25 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of the interest is taxable) to the current £12,570 personal allowance. In addition, there is a Personal Savings Allowance […]
If you employ students to manage your staff needs over the summer break period, you will need to add them to your payroll and apply PAYE and NIC rules. Students should be advised that they will pay tax and NIC if: they earn more than £1,048 a month on average, and pay NIC if […]