Pay Less Tax – Summer 2024 Edition
Stay informed with key tax deadlines, employee perks, VAT tips, and health benefit updates from Sibbalds.
Stay informed with key tax deadlines, employee perks, VAT tips, and health benefit updates from Sibbalds.
Learn effective strategies to manage the high-income child benefit charge, incorporate property portfolios, and handle VAT implications post-deregistration. Gain clarity on the tax implications of owning tangible assets, whether they’re under or over 50 years old.
Potential tax savings opportunities for CGT, Income Tax and Inheritance Tax may arise from taking certain actions before the end of the tax year on 6th April 2024. Additionally, car allowance payments may qualify for NI relief where business mileage is undertaken, and settlements under IR35 enquiries may be subject to refunds or offsets, following recent court rulings against HMRC.
We’re delighted to welcome Claire Walton who joins our team as an Accountant.
Over the past few years it is fair to say that people and businesses disposing of assets pregnant with gain have found their capital gains tax (CGT)/corporation tax (CT) liabilities grow exponentially as a result of the reduction in the CGT tax annual exemption, the corporate indexation allowance restriction, heightened residential CGT rates and corporate tax rates as well as business asset disposal relief only on the first £1 million of business asset gains over the course of an eligible taxpayer’s lifetime.
In this Autumn edition of the PayLessTax newsletter, we look at the potential loss of state pension entitlement, gift holdover relief, deadline to claim backdated bereavement allowances and a 50% tax free bonus account for low earners.
A look at the latest issues and developments relating to tax legislation in the UK
We’re delighted to welcome Declan Clare who joins our team as a Trainee Chartered Accountant.
In this newsletter we look at the deadlines & penalties for late filing of returns, 150% Land Remediation Relief, the need for clear policies on tips and service charges and issues around the christmas party!
In this special edition of the PayLessTax newsletter we look at different ways we can improve the position for charities whilst mitigating the impact upon our pockets as well.