HMRC will launch testing for making tax digital for income tax self assessment (MTD ITSA) on 22 April.Director of MTD Craig Ogilvie has written to agents saying they will soon be...
The Spring Budget Bill 2024 - also referred to as Finance (No 2) Bill 2024 - has been published. It is 22 pages long, with 26 clauses and no schedules.Measures include increasing...
The Treasury has published a consultation on improving the effectiveness of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations...
Carer’s leave
The Carer’s Leave Regulations SI 2024/251 make provision to implement a new statutory entitlement to carer’s leave for employees from 6 April 2024. They ensure that...
The government is consulting on options to raise standards in the tax advice market. The document presents three options:Mandatory professional body membership: this would require...
The high income child benefit charge (HICBC) threshold will increase to £60,000 from 6 April 2024, the chancellor announced in the Budget. In addition, the rate at which the...
As announced in the Spring Budget, the VAT registration and deregistration thresholds will increase from 1 April 2024.The 12-month taxable turnover threshold which determines...
The main rate of primary class 1 National Insurance contributions is to be reduced by two percentage points from 10% to 8% from 6 April 2024, the chancellor announced in his 2024...
1 April 2024Payment of corporation tax liabilities for accounting periods ended 30 June 2023 for SMEs not liable to pay by instalments.5 April 20242023-24 tax year end. Ensure...
Expenditure on research and development (R&D) performed by UK businesses was £49.9bn in 2022, an increase of £3bn since 2021 (6.4%), according to the data for 2022...
A tax avoidance scheme that moves income offshore has been uncovered by HMRC. The scheme involves contractors joining Singapore registered Procorre LLP to avoid paying income tax...