With the festive period now approaching, we are often asked by employers about the tax treatment of providing a staff Christmas party or giving Christmas gifts to employees. Here is a quick reminder of the rules for the tax year 2023/24.STAFF PARTIES What Christmas...
HMRC has published new advisory fuel rates for company car users which take effect from 1 September 2023. The rates have increased for cars with an engine size over 2000cc - by 2 pence per mile for petrol and by 1 pence for diesel and LPG fuel types. Also, the rate...
The Chancellor Jeremy Hunt has announced an extension of the higher rates of tax relief for theatres (TTR), orchestras (OTR), museums and galleries exhibitions (MGETR) for two years to 31 March 2025. In addition, the definition of qualifying expenditure will be...
Considering popping the question on Valentine’s Day? Here we look at some of the various tax credits and breaks married couples can benefit from and how it can pay to get married. The Marriage Allowance | Inheritance Tax | Pay less Capital Gains Tax | Reduce Income...
The Marriage Allowance – Time is running out to claim The Marriage Allowance can enable eligible married couples and civil partners to save up to £252 of tax a year. Despite being introduced almost seven years ago, many eligible couples are still missing out on this...
The Chancellor, Jeremy Hunt, has given his first Autumn Statement. We have highlighted below some of the key tax announcements made by the Chancellor: Personal tax thresholds The Chancellor has announced that personal tax thresholds will be frozen for a further...
The Chancellor of the Exchequer Jeremy Hunt will deliver his Autumn Statement on Thursday 17th November 2022. This is postponed from the previously planned date of Monday 31 October 2022. What time is the Autumn Statement? The Autumn Statement will be...
The new Chancellor Jeremy Hunt has reversed many of the tax cuts announced by his predecessor, Kwasi Kwarteng, just last month in the Mini-Budget. We have summarised the key changes below. Corporation Tax The planned increase to corporation tax, from 19% to...
The Government has released draft legislation which will ease the tax rules for many divorcing couples from April 2023. The changes follow recommendations made by the Office of Tax Simplification (OTS) in May 2021. What are the proposed changes to tax rules...
With the festive period now approaching, we are often asked by employers about the tax treatment of providing a staff Christmas party or giving Christmas gifts to employees. Here is a quick reminder of the rules for the tax year 2023/24.STAFF PARTIES What Christmas...
HMRC has published new advisory fuel rates for company car users which take effect from 1 September 2023. The rates have increased for cars with an engine size over 2000cc - by 2 pence per mile for petrol and by 1 pence for diesel and LPG fuel types. Also, the rate...
The Chancellor Jeremy Hunt has announced an extension of the higher rates of tax relief for theatres (TTR), orchestras (OTR), museums and galleries exhibitions (MGETR) for two years to 31 March 2025. In addition, the definition of qualifying expenditure will be...