NEWS Catch up with the latest in accounting news

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Welcome to our news page

Catch up on the latest news in accounting here, from cutting edge bookkeeping technology to self-assessment updates.

PAYE and overseas employees

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There are a multitude of rules and regulations that you must be aware of when you employ someone from abroad who is coming to work in the UK.

HMRC’s guidance (entitled New employee coming to work

Scottish Child Payment

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The Scottish Child Payment increased to £25 per week from 14 November 2022. The payment is available to qualifying applicants living in Scotland for children under the age of 16. The Scottish Child

Exempt transfers between siblings

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Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. The current IHT nil rate band is £325,000 per person,

Tax Diary February/March 2023

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1 February 2023 – Due date for corporation tax payable for the year ended 30 April 2022.

19 February 2023 – PAYE and NIC deductions due for month ended 5 February 2023. (If you pay your tax

New laws to mitigate disruption during public service strikes

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Working people across the UK will be protected from disruptive strikes thanks to new laws introduced recently. They will allow employers in critical public sectors to maintain minimum levels of

A definition of trusts

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HMRC’s internal manuals states that the word `trust’ describes a relationship between certain persons

which is recognised by the law;
concerned with particular property; and
enforceable by

New Energy Bills Discount Scheme

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The government has published details of a new Energy Bills Discount Scheme which will replace the current Energy Bill Relief Scheme that comes to an end on 31 March 2023. The new scheme will offer

Dissolved companies and bona vacantia

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A company comes to a legal end when it is dissolved. However, one if the important points to be aware of when doing so is that the dissolved company can no longer do or receive anything including

IHT – estimating an estate’s value

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Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. The rate of Inheritance Tax payable is 40% on death

When you must register for VAT

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The taxable turnover threshold, that determines whether businesses should be registered for VAT, is currently £85,000.

The taxable turnover threshold that determines whether businesses can apply for

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