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.
Basis of assessment changing
Forthcoming ‘basis of assessment’ reforms will change the way trading income is allocated to tax years for the self-employed. The changes will affect sole traders and partnerships that use an
Autumn Statement Summary
The new Chancellor of the Exchequer, Jeremy Hunt, has delivered his Autumn Statement to the House of Commons against a backdrop of a worsening cost of living crisis and with confirmation from the
HMRC interest rate changes
Following the recent increase in the Bank of England base rate from 2.25% to 3% HMRC has confirmed there will be changes to the rates of interest they charge.
The BoE’s Monetary Policy Committee
Claiming Corporation Tax losses
Corporation Tax relief may be available where a company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against other gains or
HMRC launch offshore property owners campaign
It has been reported by the Chartered Institute of Taxation (CIOT) that HMRC is to launch a new campaign to tackle non-compliance linked to offshore corporates owning UK property. HMRC has conducted a
Check a UK VAT number
The ability to check a UK VAT number 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
What your tax code means
The letters in your tax code signify your entitlement (or not) to the annual tax-free personal allowance. The tax codes are updated annually and help employer’s work out how much tax to deduct from an
Tax on dividends
The dividend tax allowance was first introduced in 2016 and replaced the old dividend tax credit with an annual £5,000 dividend allowance. Tax was payable on dividends received over this amount. The
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