Lindley Adams

21/10/2024

HMRC has issued a new press release reminding readers of a limited-time opportunity to enhance their State Pension. Currently, there is an opportunity for affected individuals to address gaps in their National Insurance Contributions (NICs) for tax years between April 2006 and April 2018. Originally set to end on 5 April 2023, this deadline has been extended several times and will now close on 5 April 2025. This means there are just under six months left for those who may benefit from this extension to act.

18/10/2024

Chancellor Rachel Reeves has recently introduced a series of new measures aimed at advancing the priorities of the new government. The key announcements include:

Chancellor Rachel Reeves has recently introduced a series of new measures aimed at advancing the priorities of the new

17/10/2024

There are special VAT reverse charge rules in place for certain building contractors and sub-contractors. These regulations, which came into effect on 1 March 2021, make the supply of most construction services between construction or building businesses subject to the domestic reverse charge. The reverse charge only applies to supplies of specified construction services provided to other businesses within the construction sector.

There are special VAT reverse charge rules in place for certain building contractors and sub-contractors. These

16/10/2024

The GOV.UK ID Check app is used to allow applicants to verify their identify when they sign in to a government service with GOV.UK One Login. Once this had been completed satisfactorily, your identity information is automatically saved to your GOV.UK One Login. This means you will not need to prove your identity next time a service needs to check who you are.

The GOV.UK ID Check app is used to allow applicants to verify their identify when they sign in to a government service

15/10/2024

New regulations that prohibit employers from withholding tips for employees in the hospitality, leisure, and services sectors took effect on 1 October 2024. This change follows the enactment of The Employment (Allocation of Tips) Act 2023, commonly referred to as the Tipping Act, along with the statutory Code of Practice on the fair and transparent distribution of tips, which also took effect on 1 October 2024.

14/10/2024

While there have been no specific announcements regarding changes to Business Asset Disposal Relief (BADR), the Chancellor may consider modifying this relief in the upcoming Budget. If you are contemplating selling your business soon, we can assist you in evaluating your options.

While there have been no specific announcements regarding changes to Business Asset Disposal Relief (BADR), the

14/10/2024

Banks will be granted new powers to delay and investigate payments suspected of fraud, enhancing consumer protection against scammers.

11/10/2024

An online service is available on GOV.UK at www.gov.uk/find-pension-contact-details to help people find their lost pension funds.

10/10/2024

Corporation Tax relief may be available when a company or organisation incurs a trading loss, a loss on the sale or disposal of a capital asset, or on property income. Tax relief may be available to reduce Corporation Tax by offsetting it against other profits or gains from the same accounting period.

Corporation Tax relief may be available when a company or organisation incurs a trading loss, a loss on the sale or

09/10/2024

When hiring a new employee, employers must determine the appropriate tax code and starter declaration for their payroll software. Using incorrect tax codes can result in the new employee over or underpaying their taxes. To ensure the correct information is entered, employers need certain details from the new employee, most of which are usually provided on the employee's P45. It's important to remind new employees to bring their P45 on their first day.

When hiring a new employee, employers must determine the appropriate tax code and starter declaration for their payroll

08/10/2024

HMRC’s 'Check your State Pension age' tool is available at www.gov.uk/state-pension-age/y.

HMRC’s 'Check your State Pension age' tool is available at www.gov.uk/state-pension-age/y. The online tool allows

07/10/2024

The taxable turnover threshold for VAT registration is currently £90,000 and has applied since April 2024.