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Tax Tips and News

  • New Year, New Budget

    Newsletter issue – February 2024 It might seem like only a few weeks ago that we had the Autumn Statement, but already we've had news in the early days of 2024 that the next Budget is on its way. And with that, a swirling mass of rumours about tax changes - particularly cuts, ahead of…Read More

  • Online sellers watch out for 'side hustle tax'

    Newsletter issue – February 2024 You may have seen one of the early 2024 tax stories popping up in many of the national newspapers relates to a so-called 'side hustle tax'. Is it really a tax? No. Yet we're seeing it reported as a 'New Year tax clampdown' and similar such descriptions. Unfortunately, it has…Read More

  • £148m in tax bills to be paid in instalments

    Newsletter issue – February 2024 As the Self-Assessment Income Tax deadline looms (31 January), HMRC has revealed that many people have opted into a scheme to pay their tax bills in instalments. Nearly 44,800 people have sorted their tax bills totalling almost £148 million, by setting up a monthly payment plan called Read More

  • Scotland creates new higher income tax band

    Newsletter issue – February 2024 Scottish taxpayers earning more than £75,000 are set to pay a new higher rate of 45% from 2024-25. The Scottish Government has announced the change following its Budget. The change means Scotland now has six different income tax rates. The rest of the UK has three. The 'advanced' band, as…Read More

  • February Questions and Answers

    Newsletter issue – February 2024 Q. I've just been told I'm being made redundant by my employer, but they have agreed to a significant settlement agreement. My employment will continue for three months and after that they've agreed to pay one month of salary (still on the payroll in that time) and then the equivalent…Read More

  • February Key Dates

    Newsletter issue – February 2024 1st Due date for Corporation Tax for companies with an April year-end 19th For employers operating PAYE, this is the deadline to send an Employer Payment Summary (EPS) to claim any reduction on what you'll owe HMRC 22nd Deadline for employers operating PAYE to pay HMRC. For those paying by…Read More

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