Catherine Bennett

19/08/2025

📣 Exciting News from Catherine Bennett Ltd!
For a while now, we’ve had to press pause on welcoming new clients due to limited capacity. We’ve always believed in delivering high-quality, personalised service—and that meant not stretching ourselves too thin.
But today, we’re thrilled to share that we’re back and ready to support more businesses! 🎉
With the arrival of our brilliant new manager, we’re expanding our capacity and opening our doors once again to companies in need of:
✅ Expert Bookkeeping
✅ Reliable Accounting
✅ Stress-Free Tax Services
✅ Wealth and Retirement Planning
Whether you're a small business, a growing enterprise, or just tired of juggling spreadsheets, we’re here to help you stay compliant, confident, and financially clear.
📞 Get in touch today on 01209 217299 and let us know how we can help.
📍 Based in Cornwall, proudly supporting businesses across the UK
🔗

Catherine Bennett chartered accountants based in Redruth Cornwall. Providing accounting services in financial and management accounts, management reports, corporate tax, personal tax, payroll and VAT

21/11/2024

MTD ITSA guidance updated following Budget
The Budget contained announcements regarding the rollout of Making Tax Digital for Income Tax Self-Assessment (MTD ITSA). The corresponding HMRC guidance has now been updated. What’s the latest position?
The current timetable for mandating into MTD ITSA is as follows:
• April 2026 for sole traders and landlords with income over £50,000; and
• April 2027 for those with income over £30,000
When this was announced, the previous government said it would consult on the position for those with incomes below £30,000 to ensure MTD was suitable. The Autumn Budget confirmed that the threshold will drop to £20,000 by the end of the current parliament (likely 2029), but for now there is no indication of which year this will apply to. HMRC’s guidance has been updated to reflect this.

12/11/2024

HMRC to reduce late payment interest
Late payment interest rates on underpaid taxes will soon decrease again due to the recent reduction in the Bank of England’s base rate. What are the new charges?
On 7 November 2024 an announcement confirmed a reduction in the Bank of England base rate to 4.75% from 5.0%. As HMRC’s late payment and repayment interest rates are linked to the base rate, it has confirmed that they will also come down.
From 18 November 2024 the following rates will apply:
• Late corporation tax paid quarterly – 5.75%
• Interest on overpaid corporation tax – 4.5%
From 26 November, the rates for other taxes will be:
• Late payment interest – 6.75%
• Interest on overpaid tax – 3.75%
Penalty interest can be avoided by paying your tax bill on time. As an added bonus to anyone expecting to receive interest on overpaid taxes, note that such interest is free from income tax.