The pandemic triggered a seismic shift in working practices with remote and hybrid working become the norm at many UK businesses. Even when a return to the traditional workplace became possible, it was evident many workers preferred a more flexible arrangement. Well-reported difficulties in recruitment and talent acquisition led many employers to accept flexible working […]
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Voluntary and community organisations will benefit from a £5.5m pot awarded by HM Revenue and Customs (HMRC) to support customers who may need extra help with their tax affairs. HMRC is inviting eligible organisations to bid for the funding, worth £1.8 million a year from 2024 until 2027, through HMRC’s Voluntary and Community Sector Grant […]
The Construction Industry Scheme (CIS) is a set of special tax and national insurance rules for those working in the construction industry. Businesses in the construction industry are known as 'contractors' and 'subcontractors' and should be aware of the tax implications of the scheme. Under the scheme, contractors are required to deduct money from a […]
If you have taxable income of less than £17,570 in 2023-24 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. However, it is important to note that if […]
Changes in the way alcohol is taxed will come into effect from 1 August 2023. The new system of calculating alcohol duty for all alcoholic drinks will be made using standardised tax bands based on alcohol by volume (ABV). This will replace the current alcohol duty system, which consists of four separate taxes covering beer, […]
It was announced as part of the Spring Budget 2023 measures that the government would establish twelve Investment Zones across the UK, subject to successful proposals. South Yorkshire has now been named as the first of the UK Investment Zones. These Investment Zones are designed to encourage investment and new economic activity, supporting growth and […]
1 August 2023 – Due date for corporation tax due for the year ended 31 October 2022. 19 August 2023 – PAYE and NIC deductions due for month ended 5 August 2023. (If you pay your tax electronically the due date is 22 August 2023) 19 August 2023 – Filing deadline for the CIS300 monthly […]
The January Self Assessment deadline seems like a long way off, but you don’t have to wait until the last minute to file your return. Self Assessment customers can take advantage of four key benefits when filing early, HM Revenue and Customs (HMRC) has revealed. Filing ahead of time will give customers more control over […]
Strong doubts have been raised over the current Making Tax Digital (MTD) timetable. HMRC launched its flagship digitisation scheme in 2015-16, intending to move tax systems and records to a modern management platform by 2020. The aim was to maximise tax revenue, make sustainable cost savings and improve customer service by modernising systems for VAT, […]