Have you underclaimed your expenses? In 2022/23, HMRC sent a nudge letter to taxpayers that included a statement saying that upgrading a boiler wouldn’t be a deductible expense for tax purposes, i.e. as a deduction from rental income. It is now writing to individuals admitting that this was wrong. What action do you need to ... Read More
SPECIAL FOCUS: TAX UPDATE AND 2024 SPRING BUDGET The 2024/25 tax year is just days away. In this special Monthly Focus we look at the changes that you need to be aware of for the forthcoming year, as well as highlighting the key measures announced at the 2024 Spring Budget. Page Index – PERSONAL TAX ... Read More
MONTHLY FOCUS: CAPITAL GAINS TAX SAVINGS WITH SHARES Capital gains tax, or CGT for short, applies to gains made on the disposal of chargeable assets. There are a number of tax reliefs available that you can take advantage of when planning your investments. In this Monthly Focus, we look at some of those that apply ... Read More
Changes to Accounts The measures set out in the Economic Crime and Corporate Transparency Act will improve transparency by making more financial information available to the public. Filing accounts by software only As part of our journey to modernise and digitise our filing routes, the way you file your annual accounts with Companies House ... Read More
Changes to Companies House fees Companies House fees are increasing on 1 May 2024. Index Company incorporation and registration feesLimited liability partnershipsOverseas companiesLimited partnershipsScottish qualifying partnerships UK Economic Interest Groupings and UK SocietasOverseas entities Community interest companies What this means for you Company incorporation and registration fees Transaction Channel New fee Incorporation Digital £50 Incorporation (same ... Read More
Companies House Changes at a Glance The Economic Crime and Corporate Transparency Act will introduce a number of changes over the next few years. This page summarises everything you need to know about the new measures. Improving the quality of data on our registers From 4 March 2024, greater powers for Companies House to query ... Read More
Changes to UK company law Companies House is introduced the first set of changes under the Economic Crime and Corporate Transparency Act on 4 March 2024. The act gives Companies House the power to play a more significant role in tackling economic crime and supporting economic growth. Over time, the measures will lead to improved ... Read More
Group capital allowances under review If your company is part of a group, or is connected to other companies, you may receive a letter asking you to check if you have overclaimed capital allowances. Why might this have happened and should you be worried? The annual investment allowance ( AIA) gives 100% tax relief on ... Read More
Spring Budget 2024 ‘Budget for Long Term Growth’ Chancellor Jeremy Hunt delivered his ‘Budget for Long Term Growth’ on Wednesday 6 March 2024. His speech promised ‘more investment, more jobs, better public services and lower taxes’. Table of contents To see the Full Dunhams budget report download it here Lowering taxes The Chancellor made further ... Read More
Advisory fuel rates from 1 March 2024 published The approved amount that employers can reimburse staff for business travel in company cars changes from 1 March 2024. What are the new rates? Advisory fuel rates for company cars are updated on a quarterly basis due to fluctuations in fuel prices. The rates determine the amount ... Read More
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