ACCA – IHT on pension technical consultation

by Jessica Garbett | Jan 13, 2025 | ACCA, budget, pensions

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Practical examples to demonstrate how the new rules will be applied It was announced in the autumn Budget 2024 that, from 6 April 2027,...

ACCA – Private schools and VAT

by Jessica Garbett | Jan 9, 2025 | ACCA, business taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Comprehensive guidance on the upcoming changes The UK government’s decision to remove VAT exemption for private schools was confirmed...

ACCA – Agricultural and business property reliefs

by Jessica Garbett | Jan 6, 2025 | ACCA, budget, business taxation, capital taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Updated guidance and examples about reforms On 30 October, the Chancellor announced that the government will reform agricultural property...

ACCA – Scottish Budget for 2025/26

by Jessica Garbett | Dec 17, 2024 | ACCA, budget, business taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA The Budget sets out the Scottish government’s proposed spending and tax plans The Scottish Budget 2025/26 was unveiled by the Scottish...

ACCA – Christmas gifts for staff and customers

by Jessica Garbett | Dec 12, 2024 | ACCA, business taxation, employer returns

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA The tax, NI and VAT implications of gifts and vouchers Christmas gifts and vouchers for employees and customers can have different tax,...

Christmas and New Year Office Hours 2024

by Jessica Garbett | Dec 9, 2024 | administration, WhitefieldNews

Our office will be closing for Christmas on Friday 20th December 2024 at midday, and reopening on Monday 6th January 2025. If we are preparing company or LLP accounts for you with a 31st March 2024 year end, the filing deadline for these at Companies House will be...

Autumn Budget 2024 – Unpacking Some Extras

by Jessica Garbett | Nov 27, 2024 | budget, business issues, business taxation, capital taxation

With further analysis and commentary, here are some extra thoughts on last months budget. Double Cab Pickups – buried in the small print, was a proposal to treat these as cars rather than vans from next April.  This reverses the reversal of an announcement back...

Autumn Budget 2024 and Planning Implications for Business Owners

by Jessica Garbett | Nov 18, 2024 | budget, business issues

Autumn Budget 2024 brought various changes to Capital Gains Tax (CGT) and Inheritance Tax (IHT).  Let’s look at what they were, and how they change the landscape for business owners looking to sell, retire or pass assets on.   CGT Budget Changes From 30th...

ACCA – All change for employees expenses claims

by Jessica Garbett | Nov 18, 2024 | business issues, personal finance, personal taxatation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Claiming PAYE expenses? HMRC’s updated guidance on the evidence required  From 14 October 2024, HMRC has introduced new requirements for...

Tax Implications of Incorporation and Director Salary Levels for Small Businesses – Changes from Autumn Budget 2024

by Jessica Garbett | Nov 17, 2024 | budget, business taxation

Earlier this year we published two articles looking at how cumulative changes to small business taxation in recent budgets, notably NI changes and increases in Corporation Tax, impacted taxation for small businesses, The first of these articles looked at the tax...

ACCA – Economic Crime and Corporate Transparency Bill becomes law

by Jessica Garbett | Nov 14, 2024 | ACCA, business issues

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Companies House has set out changes as a result of the new act In its recent blog, Companies House has summarised the new objectives for the...

ACCA – Companies House reform and identity verification

by Jessica Garbett | Nov 14, 2024 | ACCA, business issues

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Significant changes are coming to identity verification as part of major reforms The Economic Crime and Corporate Transparency Act (2023)...

ACCA – VAT compliance controls – HMRC Guidelines

by Jessica Garbett | Nov 12, 2024 | ACCA, business issues, business taxation, VAT

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Good practice in relation to VAT accounting and compliance processes Guidelines have been issued by HMRC for UK VAT-registered businesses who...

ACCA – Reporting requirements for online marketplaces

by Jessica Garbett | Nov 6, 2024 | ACCA, business taxation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA What businesses need to know HMRC has released guidance regarding new rules for online marketplaces that require them to report the details...

Making Tax Digital – Changes in Autumn Budget 2024

by Jessica Garbett | Nov 5, 2024 | ACCA, business issues, business taxation

Autumn Budget 2024 brought a further announcement regarding Making Tax Digital for Income Tax Self Assessment: “The government is committed to delivering Making Tax Digital (MTD) for income tax Self Assessment. The government will expand the rollout of MTD to...