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16-05-2024
Employing staff for the first time?

Employing staff for the first time?

There are a number of rules and regulations that you must be aware of when you employ staff for the first time. HMRC’s guidance sets out some important issues to be aware of when becoming an employer. Decide how much to pay someone - you must pay ... read more

16-05-2024
Register an overseas company

Register an overseas company

An overseas company must register with Companies House if they want to set up a place of business in the UK. This would mean that the overseas company has a physical presence in the UK through which it carries on business. If an overseas company ... read more

16-05-2024
Beneficial tax-exempt loans

Beneficial tax-exempt loans

An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference between the interest the employee pays, if any, and the commercial rate the employee would have to pay on a loan ... read more

16-05-2024
Closing a limited company

Closing a limited company

There are a number of reasons why you may need to close your limited company. This could be because the company structure no longer suits your needs, your business is no longer active, or the company is insolvent. You will usually need the agreement ... read more

16-05-2024
Check a VAT number

Check a VAT number

The Check a UK VAT number service is available at: www.gov.uk/check-uk-vat-number. This service allows users to check: if a UK VAT registration number is valid; and the name and address of the registered business. The service also allows UK ... read more

16-05-2024
Deferring National Insurance payments

Deferring National Insurance payments

Employees with more than one job may be able to defer or delay paying Class 1 National Insurance in certain circumstances. This deferment can be considered when any of the following apply: You pay Class 1 National Insurance with more than one ... read more

13-05-2024
Customs declaration deadline

Customs declaration deadline

A reminder that businesses must submit all export declarations through the Customs Declaration Service (CDS) by 4 June. Businesses exporting goods have less than one month left to move across to the CDS, HM Revenue and Customs (HMRC) announced ... read more

13-05-2024
Company names – new regulations

Company names – new regulations

A recent post by Companies House confirmed that they are now using new powers to challenge the registration of certain company names. Extracts from their recent blog post is reproduced below: “New powers to challenge company names These ... read more

09-05-2024
Time to renew tax credits

Time to renew tax credits

HMRC is currently sending the annual tax credit renewal packs to the 730,000 tax credit claimants and is encouraging recipients to renew their tax credits claim online. HMRC started writing to taxpayers on 2 May and expects all packs to be with ... read more

09-05-2024
Act now to claim dormant funds

Act now to claim dormant funds

The Ministry of Justice has published an urgent warning for anyone with unclaimed dormant funds held by the Courts Funds Office (CFO). Recent changes in legislation have changed the rules for individuals or entities with dormant funds held by the ... read more

09-05-2024
Check if HMRC contact is genuine

Check if HMRC contact is genuine

HMRC’s published guidance titled ‘Check genuine HMRC contact that uses more than one communication method’ has been updated. The list is intended to help taxpayers check if recent contacts purporting to be from HMRC are actually a scam. The guidance ... read more

09-05-2024
How to claim R&D expenditure credit

How to claim R&D expenditure credit

In the Autumn Statement last year, it was announced that the existing R&D Expenditure Credit and Small and Medium Enterprise Scheme would be merged from April 2024. The merged scheme R&D expenditure credit (RDEC) and enhanced R&D ... read more

09-05-2024
Do you need to register for Economic Crime Levy?

Do you need to register for Economic Crime Levy?

The Economic Crime Levy is a levy that applies to businesses that are already regulated for anti-money laundering purposes. Your business must register if your UK revenue is £10.2 million or more in a financial year and: Your business is already ... read more

09-05-2024
Lifetime transfers and liability to IHT

Lifetime transfers and liability to IHT

There are special rules concerning the liability to IHT of a transfer made during a lifetime. For example, most gifts made during a person's life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially ... read more

07-05-2024
Tax Diary June/July 2024

Tax Diary June/July 2024

1 June 2024 - Due date for corporation tax due for the year ended 31 August 2023. 19 June 2024 - PAYE and NIC deductions due for month ended 5 June 2024. (If you pay your tax electronically the due date is 22 June 2024). 19 June 2024 - Filing ... read more

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