NEWS Catch up with the latest in accounting news

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

Don’t forget those trivial benefits

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Don’t forget to take advantage of tax-free trivial benefits before Christmas. If you are an employer and looking to give your employees a small token of appreciation for Christmas, then your best

Autumn Finance Bill published

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The government published the Autumn Finance Bill 2022 on 22 November 2022. The Bill is officially known as Finance Bill 2022-23. The Bill contains the legislation for many of the tax measures

Self-assessment payments on account

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Self-assessment taxpayers are usually required to pay their income tax liabilities in three instalments each year. The first two payments are due on:

31 January during the tax year e.g. for 2022-23

Who is a Scottish taxpayer?

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The Scottish rate of income (SRIT) is payable on the non-savings and non-dividend income of those defined as Scottish taxpayers. This means that Scottish taxpayers who also have savings and dividend

Filing abridged company accounts

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Companies that are dormant or qualify as a small company or ‘micro-entity’ can choose to send a simpler set of accounts known as abridged accounts to Companies House and do not need to be audited.

Low-cost broadband and phone tariffs

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The Department for Digital, Culture, Media & Sport (DCMS) has published a new press release to confirm that they have been working together with internet service providers to deliver low-cost

Use HMRC’s tax app to save time

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A free HMRC tax app is available and offers some useful functionality. In fact, in the 12 months up to October 2022, HMRC received almost 3 million calls from people asking for information that is now

Reminder of working from home allowances

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Employees who work from home may be able to claim tax relief for bills they pay that are related to their work.

Employers may reimburse employees for the additional household expenses incurred

MTD for ITSA

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The introduction of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) is set to commence from April 2024. This means that clients who have not yet prepared for the change have less than

CGT – share exchange

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One of the more ‘niche’ measures introduced as part of the Autumn Statement measures related to Capital Gains Tax: Share for Share Exchange.

This is intended to stop UK tax being avoided by non-UK

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