Each week Bath accountancy firm Pearson May teams up with Bath Business News to bring you the top national finance stories. Self-assessment threshold increases to £150,000 Fewer PAYE taxpayers will submit returns in 2023/24. Click here for more information Access to finance limited for SMEs Low awareness and high borrowing costs limit growth. Find out more here
Each week Bath accountancy firm Pearson May teams up with Bath Business News to bring you the top national finance stories. Late payment interest rate rises to 7% Interest has doubled since May 2022. Click here for more information HMRC plans to simplify construction industry scheme The scheme may be causing ‘unnecessary’ administrative burdens. Find out more here
In his Budget speech in March, Chancellor Jeremy Hunt kicked off the government’s plan for growth with changes to business tax legislation, a key policy being ‘full expensing’. But what did the Chancellor mean by ‘full expensing’ and how does the policy work? Pearson May partner Matthew Rutter explains. What is full expensing? Under...
Each week Bath accountancy firm Pearson May teams up with Bath Business News to bring you the top national finance stories. VAT registration helpline set to close HMRC will prioritise registration applications. Click here for more information Company insolvencies fall in April Figures remain higher than pre-pandemic levels. Find out more here
Each week Bath accountancy firm Pearson May teams up with Bath Business News to bring you the top national finance stories. HMRC explains termination payment rules Employers should take care when finalising severance packages. Click here for more information Points-based penalties planned for self-assessments HMRC will introduce the reforms in 2026. Find out more here
Each week Bath accountancy firm Pearson May teams up with Bath Business News to bring you the top national finance stories. MTD for VAT mandatory from May The transitional online portal will be closed next month. Click here for more information IFS launches new pensions review There are concerns people aren’t saving enough. Find out more here
It is important at this time of year to not overlook the filing deadline for any forms P11D that may be required to report certain benefits and expenses provided to employees in the tax year ended 5 April 2023, writes Pearson May partner Matthew Rutter. Any forms required must be submitted to HM Revenue...
Each week Bath accountancy firm Pearson May teams up with Bath Business News to bring you the top national finance stories. HMRC releases guidance on abolition of lifetime allowance (LTA) for pensions The government will pass legislation in 2024/25. Find out more here New bill will modernise business rates The new measures will incentivise property improvements. Click here for further details...
Each week Bath accountancy firm Pearson May teams up with Bath Business News to bring you the top national finance stories. Digital services tax could become permanent MPs warn that tech companies could avoid paying. Find out here if this will affect you Industry leaders question ‘tax simplification’ There are concerns over the government’s commitment. For further details, click here
Each week Bath accountancy firm Pearson May teams up with Bath Business News to bring you the top national finance stories. Government changes pension rules Tax allowances changed and rumoured age increases scrapped. Click here for more information HMRC stops sending paper returns automatically Some 135,000 self-assessment customers filed paper returns last year. For further details, click here ...
