Amongst the changes made by the Chancellor in the Spring Budget, there was a modification to the High Income Child Benefit Charge.
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Cloud accounting and accountants – Working in sync
These days, many businesses are already familiar with cloud accounting software and its benefits. From streamlining your accounts to automatically filing your tax returns, cloud accounting can be an excellent tool to save your business time and money. It may be tempting to consider not hiring an accountant and simply relying on software to handle your accounts. However, by combining the automated efficiency of cloud accounting with the expert opinion of an accountant, your business will thrive. Key advice and guidance Cloud accounting software can be fantastic for handling your business accounts. It can automate, streamline, and simplify many processes
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I’m not VAT registered; can I claim VAT back?
You can only claim for VAT on goods and services purchased for your business if you are VAT registered.
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Economic Crime and Corporate Transparency Act 2023 – Companies House changes now in effect
The initial provisions of the Economic Crime and Corporate Transparency Act 2023 came into effect on 4 March 2024. These updates mandate that from 5 March 2024, every company must, when submitting their next Confirmation Statement (form CS01): If we are already managing your Confirmation Statement submissions, you can be confident that we will submit your forthcoming statement adhering to these updates. Should you handle your Confirmation Statement filings independently, note that you will need to include a registered email address and confirm the company’s commitment to lawful activities before you can finalise your submission. Further measures effective from 4
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Holiday accrual to come in for zero-hours workers
Following changes to the Working Time Regulations 1998 in January 2024, further amendments are set to come into force on 1 April 2024 relating to leave entitlement for workers on irregular hours. Upcoming changes will apply to workers on zero-hours or irregular hours contracts, as well as those who are on ‘part-year’ contracts, such as those who work seasonally. By definition, these are workers whose hours: For example, a worker on a zero-hours contract is not guaranteed a certain number of hours each pay period, so they come under the scope of the new regulations. Alternatively, a student worker who
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Spring Budget ushers in property tax shake-up
The Chancellor delivered his 2024 ‘Budget for long-term growth’ in the face of an upcoming general election. Although the headlines have been dominated by the news that employee National Insurance Contributions will be cut further to eight per cent, Mr Hunt also announced several measures, which changed how certain property taxes will be applied. Largely impacting owners of second or additional homes and Furnished Holiday Lets, the new measures attempt to balance individual tax cuts and bolster The Treasury in other areas. Capital Gains Tax From 6 April 2024, higher-rate taxpayers will be subject to a lower rate of Capital
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How will the Spring Budget 2024 tax changes impact your business?
The Chancellor announced many changes in his Spring Budget, including the introduction of new tax reliefs and reforms that will add to existing allowances and thresholds for SMEs.
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Spring Budget 2024
The latest Budget was an important speech for the Chancellor, Jeremy Hunt, and his Government, as he laid out key measures likely to affect his party’s success at the ballot box later this year. Although a date for the next general election is still yet to be set, this is likely to be the last time that Mr. Hunt will have a chance to introduce significant changes to taxation and funding and so he didn’t hold back. Before his announcement, it was unclear exactly what direction the Government would take, following caution from several think tanks about the dangers of
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Do you employ part-time workers? Here’s how their holiday entitlement calculation system will change
From April, all workers on zero hours contracts (part-time or irregular hours staff), will encounter changes to how their holiday entitlement is calculated.
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Are you a short-term let owner? You’re going to face new planning permission requirements
The Government are trying to tackle housing shortages in areas of high demand for short-term lets and will do this by introducing new regulations.
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