Making Tax Digital – Ely Seminar

There continues to be an ongoing debate when buying a residential property to let out about whether to buy this personally or set up a limited company to own it. Unlike our sole trader v limited company comparisons for a trading business there is not a clear division based on profits. There are a lot…

If you’ve heard about the changes post 5 April 2024 and are wondering whether you need to re-register for Child Benefits, this is the blog post for you.   If you have been affected by the increase in the High Income Child Benefit Charge cap to £60,000, then you may need to restart your Child…

UK company size thresholds are set to increase, but what does this change for you?   In his recent economic speech on 18th March 2024, Rishi Sunak unveiled significant changes aimed at simplifying reporting requirements for businesses. Among these measures, he announced an increase in the thresholds used to determine company size.   Understanding Company…

A further cut in employee National Insurance (NI).   Following rapidly on the heels of the 2% cut in employee National Insurance Contributions, the chancellor announced a second 2% cut to come into effect at the start of the new tax year. This means that a monthly paid employee earning £30,000 per year will see…

Changes to Advisory Fuel Rates – With effect from 1 March 2024, although previous rates can still be used for up to one month after the 1 March. However, the volatility of the price of fuel on the world markets can mean that these rates are already outdated. It is advised to keep monitoring the…

For the 24-25 tax year there will be 5 different student loan deduction rates. However, Plan 5 does not become due for payment until the 2026-27 tax year so can be discounted for now. The new rates show no change for Plan 2 and 3, but the thresholds for Plan 1 and 4 have been…