What is a P11D? A P11D is a document used by an employer to report to an individual employee or director any expenses or benefits given to them in a given tax year. This will then be submitted to HMRC to inform them of any taxable benefits provided, so they can update the tax code […]
HMRC doesn’t look too kindly on the tax refund agencies, not least because they can charge extortionate amounts of commission and sometimes their clients are not even aware that they have signed up to their services. In March this year they changed the rules so that assignments of income tax repayments to these agencies were […]
Sometimes it can be very hard to understand what the current Government’s strategy is in relation to HMRC and the services it is expected to provide to the wider tax paying public. At a time when HMRC is overloaded with rolling out its digital services across the UK and frankly struggling to keep the tax […]
This year our chosen charities are YCC (Yorkshire Children’s Centre) and The Wooden Spoon. YCC was founded in 1974 and is a charity based in Huddersfield Town Centre that supports vulnerable and disadvantaged children, young people, and their families within Kirklees and the surrounding areas. They provide early interventions and medium to longer-term support for children […]
Increase in Corporation Tax rate For companies with profits of £250,000 or more, the main rate of corporation tax will be 25% For companies with profits of £50,000 or less, the main rate of corporation tax will remain at 19% For companies with profits between £50,000 to £250,000, the main rate of corporation tax will […]
From 6 April 2023 it will no longer be possible to fill gaps in your NIC payment history dating back to 2006 with voluntary contributions, as it is going to revert back to the past six tax years. This means that for the 2023/2024 tax year it will be possible to make contributions for […]
The Daily Telegraph has reported today that families have paid up to £600m in death duties after missing out on tax reliefs that could have slashed their inheritance tax bills. The Government is expected to raise record amounts from death duties in 2022 but families are not utilising IHT reliefs such as allowing spouses to […]
With just a week to go before the new Chancellor of the Exchequer (it’s Jeremy Hunt in case you are not keeping up with recent developments !!) stands up in Parliament to deliver an Autumn Statement designed to fill the Treasury’s £40bn, sorry I meant £50bn, no its now £60bn, black hole – here are […]
From 19th September it will be possible for employers to set up a variable plan to pay National Insurance and PAYE liabilities, whereas before the system only allowed single payments by direct debit. The direct debit amount will be the figure declared on the returns submitted, or less if there have been overpayments allocated, but […]
Do you have employees who cycle to work? If so they could take advantage of the government’s Cycle to Work Scheme. The Cycle to Work scheme is a tax incentive aimed at encouraging employees to cycle to work thereby reducing air pollution and improving their health. The Cycle to Work scheme permits an employer to […]
6th April 2024 might seem to still be a long way in the future, but it is now less than 2 years away and will arrive upon us before we know it. This is the date that Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) will come into force and represents a seismic […]
From 1 April 2022 all vat registered businesses and individuals will need to comply with Making Tax Digital for VAT (MTD VAT). Most businesses will be MTD compliant anyway as it was a requirement for those earning above the VAT threshold to be MTD compliant since April 2019. However, from 1 April 2022 those that […]
October 2021 marked the end of an era – Wm Morrison Supermarkets PLC was acquired by Clayton, Dubilier & Rice at an agreed cash price of £2.85 per share. The supermarket chain was listed on the UK stock market for over 50 years and can trace its roots back to 1899 when William Morrison set […]
Rishi Sunak, has delivered his Autumn Budget and whilst there was plenty of “tinkering” around the edges of certain taxes and duties (alcohol duties, air passenger duty and tonnage tax), the BIG 3 of the UK tax world i.e. Income Tax, National Insurance and VAT were left untouched. This is not surprising, because in so far […]
The deadline for claims for the fifth Self-employment Income Support Scheme (SEISS) grant is the end of this month. The grant is for either 30% or 80% of the three month’s average trading profits, determined by how much the business’ turnover has reduced in the year April 2020 to April 2021. Caps of £2,850 and […]
Imagine one of the public bodies decided to increase the cost of their services by 75% – it might be the local Council for bin collection OR the charge you pay for respite care for an elderly or disabled family member. I might be wrong, but I would expect there would be a lot of […]
We’re pleased to unveil our new look logo which has been developed to align our business and company name. Following the merger of Langricks and Michael Bell back in 2019, our two logos were also integrated, which at the time helped bring our two businesses together and communicate that we were one business. However this […]
All taxpayers have a Personal Tax Account with HM Revenue & Customs. This contains lots of useful information. Have you looked at yours? You can use your Personal Tax Account to: tell HMRC about a change of name or address check your tax code check and manage your tax credits and child benefit view your National […]
As we continue to expand our Tax team across both our offices we are delighted to announce the appointment of Nigel Shaw to join our business as Tax Director. Nigel brings over 30 years experience in dealing with High Net Worth Individuals, Trusts, Estates and Probate. In addition he advises clients on philanthropy matters and […]
In the March 2021 Budget the government announced the super-deduction for capital allowances. The super-deduction offers 130% first-year relief on qualifying main rate plant and machinery investments until 31 March 2023 for companies. The relief equates to a reduction in tax of 25p for every £1 spent, for example: If you spend £10,000 on qualifying […]