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Essential Tax Dates for May
3 May Deadline for submitting P46(Car) for employees whose car/fuel benefits changed during the quarter to 5 April 2024. 19 May PAYE, Student loan and CIS deductions are due for the month to 5 May 2024. 31 May Deadline for forms P60 for 2023/24 to be issued to...
Tax dates for April
5 April Last day of 2023/24 tax year. Deadline for 2023/24 ISA investments and pension contributions. Last day to make disposals using the 2023/24 CGT exemption. 14 April Due date for income tax for the CT61 period to 31 March 2024. 19 April Automatic interest is...
HMRC halts helpline closures
HMRC has halted its plans to restrict taxpayer helplines and direct people to online services instead. The tax authority had announced that it was closing its self assessment helpline for six months every year. It was also restricting the opening times of its VAT...
Advisory fuel rates from 1 March 2024 published
CARS Advisory fuel rates for company cars are updated on a quarterly basis due to fluctuations in fuel prices. The rates determine the amount that can be paid to an employee using a company car for business mileage, without income tax consequences. HMRC has now...
HMRC reminds cryptoasset holders of tax obligations
Ahead of this month’s filing deadline for the 2022/23 tax return, HMRC is urging cryptoasset holders to check if they need to report transactions. Does this affect you? HMRC is concerned that individuals who sell or exchange cryptoassets may not be aware that they...
Child benefit goes digital
Child benefit payments take up to 16 weeks to commence. Now, HMRC has launched an online claim service for new parents which it says will take ten minutes to complete, and as little as three days for payments to arrive. What will you need to use the new service? HMRC...
Criteria for self-assessment are changing
SELF-ASSESSMENT Historically, you may have had to file a tax return if your income exceeded the point where the personal allowance starts to be tapered away. This has changed for 2023/24. In the past, HMRC has insisted on issuing returns for the following reasons,...
Changes to VAT zero rating imminent
HMRC has announced an extension to the materials qualifying for the VAT zero rate from 1 February 2024. What’s the full story? The government often uses tax policy to encourage the use of energy efficient/otherwise environmentally friendly technologies. Currently, the...
Latest advisory fuel rates published
The advisory fuel rates published by HMRC set fixed amounts that can be paid to an employee using a company car for business mileage, without income tax consequences. It's possible to use a higher rate, but you must show that the actual fuel cost per mile is greater...
ESSENTIAL TAX DATES FOR DECEMBER
1 December New Advisory Fuel Rates (AFR) for company car users apply from today. 19 December PAYE, Student loan and CIS deductions are due for the month to 5 December 2023. 30 December Online filing deadline for submitting 2022/23 self assessment return if you require...
Largest increase to minimum wage
The government has announced substantial increases to the national living wage (NLW) and national minimum wage (NMW) from 1 April 2024, and a key change for workers aged 21 and 22. What are the new rates and what’s the key change? Accepting the recommendations of the...
HMRC launches marriage allowance calculator
HMRC has launched a new online tool to calculate the amount of marriage allowance couples can claim. What’s the full story? The personal allowance is a fixed amount that each individual can earn before income tax is charged each year. In some circumstances, it may be...
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Middleton Accountancy Services
211 Manchester New Road
Alkrington
Middleton
Manchester
M24 1JT
