Key tax & accounting deadlines to 31 August 2024

As we move through the tax year, here’s a reminder of the approaching tax & accounting deadlines affecting businesses. June 2024 1 June – Deadline for corporation tax payment for accounting period ended 31 August 2023 1 June – Updated advisory fuel rates published 7 June (10th if paid by direct debit) – VAT returns and payments for quarter ended … Read More

Budget For Long Term Growth – Spring 2024

INDIVIDUALS Personal Tax and National Insurance National Insurance The Chancellor announced a further cut in employee national insurance by 2p from 10% to 8% from April 2024. This is on top of the cut already in place from January 24 announced in the Autumn Statement 23 which reduced the NIC from 12% to 10%. Both of these cuts combined this … Read More

Advisory Fuel Rates from 1 March 2024

Fuel rates from 1 March 2022

From 1 March 2024, the advisory fuel rates to be used by employees when claiming back mileage using a company car are as follows: Engine size Petrol – rate per mile LPG – rate per mile 1400cc or less 13 pence 11 pence 1401cc to 2000cc 15 pence 13 pence Over 2000cc 24 pence 21 pence Engine size Diesel – … Read More

Key tax & accounting deadlines to 31 May 2024

With the end of the tax year approaching, here’s a reminder of the approaching tax & accounting deadlines affecting businesses. March 2024 1 March – Deadline for corporation tax payment for accounting period ended 31 May 2023 1 March – Updated advisory fuel rates published 7 March – VAT returns and payments for quarter ended 31 January 2024 14 March … Read More

Key tax & accounting deadlines to 29 February 2024

As we move through the tax year, here’s a reminder of the approaching tax & accounting deadlines affecting businesses. December 2023 1 December – Deadline for corporation tax payment for accounting period ended 28 February 2023 1 December – Updated advisory fuel rates published 7 December (10th if paid by direct debit) – VAT returns and payments for quarter ended … Read More

Autumn Statement

BUSINESS Full Expensing In the Spring Budget 2023, the government announced “full expensing” whereby a business gets full tax relief at 25% when making investments in the year of investment on qualifying assets. Businesses obtain 25p of tax relief for every £1 that they invest. Originally set to expire in 2026, this measure has now been made permanent, providing certainty … Read More