Pie Accounts

13/04/2023

Need to check your tax code?

It is important you check your tax code is correct so you pay the right amount of tax.

You can view your income and tax code on the HMRC App.

Download the HMRC App from the App Store📱

13/04/2023

*******Corporation tax*********

Paying tax sucks, only thing worse then paying it, is HMRC misallocating your payment to the wrong account .
This video shows you how to pay 😃

26/02/2023

The VAT default surcharge is being replaced by new penalties for returns that are submitted late and VAT which is paid late. The way interest is charged is also changing. Full details can be found in the link in the comments

10/02/2023

Did you know? Self Assessment customers can set up a Budget Payment Plan. This means you can make regular monthly or weekly payments towards your next tax bill so you’ll have less to pay at the next deadline. Find out more 👇 https://www.gov.uk/pay-self-assessment-tax-bill/pay-weekly-monthly

16/12/2022

Love this 😂

"It's not Christmas until our local electrical shop puts up its annual nativity scene" 🤣🤣

16/12/2022

The treasury have postponed their plans to digitise the tax system for 2 years. This seems like a sensible approach. The change would have required businesses with an annual income of £10k to keep digital records.
And breathe

23/11/2022

This is pretty cool.

23/11/2022

Karen Culmer Nicola Carey xx

Did you hear that the Christmas donkeys are coming to town? This handsome pair from Happy Endings Rescue will be at the Christmas Market Weekend on the 10th and 11th of December. Tag a friend that you know will LOVE to see these two and give them a cuddle!

23/11/2022

HMRC have informed us that they will be issuing a bulk email to VAT registered businesses who file quarterly or monthly on Wednesday 23 November, to remind them that they can no longer use their existing VAT online account to file their VAT returns.

💻 They must now use MTD compatible software.

📝 In the absence of doing so themselves, these businesses will now have been enrolled for MTD by HMRC.

18/11/2022

Budget highlights

Employment taxes – The National Insurance contributions secondary threshold has been fixed at £9,100 for 5 years from April 2023. The employment allowance has been protected, so the effect on small employers will be minimal.
Dividend allowance – This change is more painful for small business owners, particularly those that incorporated their business to save income tax. The dividend allowance has been reduced from £2000 to £1000 from April 2023, and to £500 from April 2024. For a small company with husband and wife equal shareholders, this means you will pay an extra £150 tax in 2023 and an extra £225 tax in 2024. Assuming both husband and wife are basic rate tax payers.
The capital gains tax annual exempt amount will reduce from £12,300 to £6,000 from April 2023 and to £3,000 from April 2024. This is another tax blow to individuals with rental properties. Selling a property after April 2023 will mean you pay an extra £1,260 on your gain (for basic rate tax payers) or £2,520 for higher rate tax payers).
Inheritance Tax (IHT) nil-rate bands will be fixed at their current rates for another 6 years. The effect of this fix is somewhat dependant on what happens to property prices in those years. i.e. if property prices rise, the impact of the IHT nil rate band will fall and vice versa.
SDLT cuts – The nil rate threshold was increased from £125k to £250k for all purchasers of residential property in England and Northern Ireland from 23 September 2022. For first time buyers the nil rate threshold was increased from £300k to £425K. This cut will remain until 31 March 2025.