Insights
Business and Accounting Information
Customs Declaration Service open for business
All businesses can now move their export declarations to the Customs Declaration Service (CDS), HMRC has confirmed.
Businesses who have yet to move their export declarations to CDS will have a transition period to move across, until 4 June 2024.
Tax Diary April/May 2024
1 April 2024 – Due date for corporation tax due for the year ended 30 June 2023.
19 April 2024 – PAYE and NIC deductions due for month ended 5 April 2024. (If you pay your tax electronically the due date is 22 April 2024).
19 April 2024 – Filing
Eligibility for replacement of domestic items relief
The replacement of domestic items relief enables landlords to claim tax relief when they replace movable furniture, furnishings, household appliances and kitchenware in a rental property. The allowance is available based on the cost of domestic items
Changing a company’s accounting year end
There are special rules which limit the ability to change your company’s accounting year end date. A company’s year end date is also known as its ‘accounting reference date’ and is historically set by reference to the date the company was
Register of Overseas Entities
The Register of Overseas Entities came into force in the UK on 1 August 2022. The register is held by Companies House and requires overseas entities that own land or property in the UK to declare their beneficial owners and / or managing
Tax on savings interest
If you have taxable income of less than £17,570 in 2023-24 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of the interest is taxable) to the current £12,570
Still time to register for the Marriage Allowance
There is still time to register for the marriage allowance before the current tax year ends on 5 April 2024. The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or does
Company confirmation statement changes
As well as filing accounts with Companies House, there is an important requirement to check that the information Companies House has about your company is correct every year. This is facilitated by the filing of an annual company confirmation
Tech companies assist with fuel price transparency
Leaders from top comparison sites, RAC and The AA will be among those meeting the Energy Affordability Minister to help share new fuel price data and keep costs down for motorists.
Price comparison sites and map apps will have access to this new
Public sector productivity
In a recent announcement by the Treasury, it was announced that plans are afoot to deliver up to £1.8bn of productivity benefits by 2029.
The aim is to improve public sector productivity, including releasing police time for more frontline work.
Spring Budget 2024 – Fuel Duty rates
In the Spring Budget, the Chancellor extended the fuel duty cut for a further 12 months to help support households and businesses at a time of high oil prices. The Chancellor acknowledged that the rising price of fuel places a huge burden on families
Spring Budget 2024 – non-dom changes
In a move that may partly have been prompted by seeking to mirror a longstanding policy of the Labour party, the Chancellor has announced that the generous non-dom rules are to be axed.
From April 2025, the government plans to abolish the remittance