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.

Apply for or locate a National Insurance number

Apply for or locate a National Insurance number

If you have lost or forgotten your National Insurance number, there are several ways to retrieve it.

You can find your National Insurance number:

On a document you already possess, such as a P60,

How to interpret your tax code

How to interpret your tax code

The letters in your tax code indicate whether you are entitled to the annual tax-free personal allowance. These codes are updated each year and help employers calculate how much tax should be deducted

Tax Diary January/February 2025

Tax Diary January/February

1 January 2025 – Due date for Corporation Tax due for the year ended 31 March 2024

19 January 2025 – PAYE and NIC deductions due for month ended 5 January 2025. (If you pay your tax electronically

When it comes to pensions, it is of paramount importance to Re-DOC on time!

When it comes to pensions, it is of paramount importance to Re DOC on time!

A tribunal recently ruled on the failure of a private limited company, El Recruitment Ltd., to submit its Re-DOC before the statutory deadline as required under the ‘Employer Duties’ of the Pensions

The Likely Effects of Employers’ NIC Increases in 2025

The Likely Effects of Employers’ NIC Increases in

The upcoming increase in Employers’ National Insurance Contributions (NICs) is set to have significant repercussions for UK businesses. Employers’ NICs are essentially a tax on wages, paid by

Fuel prices report by Competition and Markets Authority (CMA)

Fuel prices report by Competition and Markets Authority (CMA)

Fuel margins of retailers – the difference between what a retailer pays for its fuel and what it sells at – remain around the high levels seen during the CMA’s road fuel market study.

Supermarket

How Council Tax is calculated

How Council Tax is calculated

To calculate your Council Tax, you need to know the following:

The valuation band of your property in England, Wales, or Scotland
The amount your local council charges for that band
Whether you

Changes to CGT Investors’ Relief

Changes to CGT Investors’ Relief

The rate of Capital Gains Tax (CGT) for Investors’ Relief will rise from 10% to 14% for disposals made on or after 6 April 2025. It will then increase further to 18% for disposals made on or after 6

Gifts of land and buildings to charities

Gifts of land and buildings to charities

There are special rules in place for taxpayers who make gifts of land and buildings to charity. This can include Income Tax and Capital Gains Tax (CGT) relief provided all the necessary conditions are

Seven year rule still applies – IHT PETs

Seven year rule still applies – IHT PETs

There are specific rules regarding the liability to Inheritance Tax (IHT) on gifts made during a person’s lifetime. In most cases, gifts made during a person’s life are not taxed at the time they are

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