Resources - tax

A selection of great tools, business guides and articles to help make your business a success

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Self-assessment thresholds change for PAYE workers

Self-assessment thresholds change for PAYE workers

The threshold for people taxed through PAYE who are required to file a self-assessment return has increased from £100,000 to £150,000. Those affected should be contacted by HMRC if they need to change anything. That said, there have been times in the past where HMRC...

P11D and P11D(b) forms must be filed online by July 6

P11D and P11D(b) forms must be filed online by July 6

P11D and P11D(b) forms from April 6, 2023, now need to be filed online by July 6 following a rule change from HMRC. If employers need to make amendments to any returns that have already been filed, these should also be made online through a new form via the expenses...

How you can benefit from salary sacrifice

How you can benefit from salary sacrifice

Salary sacrifice is something you may have come across before but not fully understood. After all, why would anyone want to voluntarily give up some of their salary? The reality is that, in some instances, using salary sacrifice to get alternative benefits can reduce...

Base rate rises again – what it means for business

Base rate rises again – what it means for business

The cost-of-living crisis is taking its toll across all areas of our lives now. While inflation has fallen very slightly this month to 8.7%, food prices remain stubbornly high, and the Bank of England (BoE) is expected to continue with its base rate rises until later...

Deadline to catch up on National Insurance contributions extended

Deadline to catch up on National Insurance contributions extended

Anyone with an incomplete National Insurance contributions (NICs) record between April 2006 and April 2016 now has until July 31 to add to their NICs to qualify for a full State Pension after HMRC extended the deadline. Thousands of taxpayers have incomplete years in...

Can hybrid working boost your business?

Can hybrid working boost your business?

The pandemic brought a lot of changes to our businesses, some good and some bad. One that has continued to be a topic of conversation is the desire for more people to be able to work some, or all, of the time from home. If your business requires people to be onsite –...

Check your PAYE code is correct for this tax year

Check your PAYE code is correct for this tax year

Every employee working for a company has a Pay-As-You-Earn (PAYE) code which denotes how much tax you will pay in a year. If this code is incorrect, it could mean you are paying more or less tax than you should be, and may need to reclaim that money, or pay more....

Make the most of the new tax year by acting now

Make the most of the new tax year by acting now

The new tax year started on April 6 and while many people will wait until the last minute to maximise the tax benefits available to them, there is a lot to be said for starting your tax housekeeping sooner rather than later. There are many ways we can benefit from the...

Pension changes make retirement saving more attractive

Pension changes make retirement saving more attractive

Pensions got a major overhaul in the Chancellor’s Budget announcements, with an increase in the amount you can put into your pension each year and an effective removal of the limit that your pension can reach before facing significant penalties of as much as 55%. Rise...

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