by AJN Accountants | Nov 26, 2024 | Tax Planning
The Chancellor has extended the current freeze on inheritance tax (IHT) thresholds until 2030 and announced changes to the treatment of inherited pensions and other IHT reliefs. The nil-rate band (NRB) is the amount of any estate that can be inherited tax free. It has...
by AJN Accountants | Nov 18, 2024 | Tax Planning
The rates of capital gains tax (CGT) payable on gains arising from assets other than residential property have been increased with immediate effect. Rates Those taxpayers who decided to accelerate planned investment disposals before the Budget in anticipation of the...
by AJN Accountants | Sep 14, 2024 | Tax Planning
From 1 January 2024 online platforms such as websites, online marketplaces and apps that allow individuals and businesses to sell items and services are required to collect and report seller information and income to HMRC. If you sell items through eBay, Etsy,...
by AJN Accountants | Sep 1, 2024 | Tax Planning
Every year, HMRC conducts a PAYE End of Year Reconciliation to compare the tax deducted from wages and pensions against the actual tax owed for the year. If there is an underpayment or overpayment, HMRC informs the taxpayer through a P800 form. When employees receive...
by AJN Accountants | Jun 6, 2024 | Tax Planning
HMRC has updated its guidance to clarify the tax position of reimbursed travel costs for hybrid workers. As many employees are now working from home at least part of the time, some employers are offering to repay certain travel expenses. HMRC’s updated guidance...
by AJN Accountants | Feb 17, 2024 | Accounting, Advice, Business, News, Small Businesses, Tax Planning
If you engage part time workers, or staff who work irregular hours, on permanent contracts you need to be aware of new rules affecting holiday pay calculations which take effect for holiday periods starting after 1 April 2024. Getting holiday pay right is vital,...
