by admin | Jun 7, 2024 | Tax Diary |
1 July 2024 – Due date for corporation tax due for the year ended 30 September 2023. 6 July 2024 – Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs. 19 July 2024 – Pay Class 1A NICs (by the 22 July...
by admin | Jun 6, 2024 | Inheritance Tax |
The Inheritance Tax residence nil rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct descendent such as children or grandchildren after their death. The allowance...
by admin | Jun 6, 2024 | National Insurance |
Directors are classed as employees and pay National Insurance on annual income from salary and bonuses that exceed the Primary Threshold. The annual threshold is £12,570 in the current 2024-25 tax year. Many director shareholders take a minimum salary and...
by admin | Jun 6, 2024 | Employment & Payroll |
An employer can usually reclaim 92% of employees’ Statutory Maternity, Statutory Paternity, Statutory Adoption, Statutory Parental Bereavement and Statutory Shared Parental Pay. If the business qualifies for Small Employers’ relief, this figure can...
by admin | Jun 6, 2024 | Income Tax |
There is an online tool, developed by HMRC, that allows taxpayers to check if they need to notify HMRC about additional income. The online tool can be found at www.gov.uk/check-additional-income-tax. You are required to submit a self-assessment return if any of the...
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