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HMRC advisory fuel rates for company car users from 1 September 2024

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 September 2024.

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Homebuyers Paid £1.2 Billion in Stamp Duty in July

According to official figures from HMRC, homebuyers in the UK paid an astonishing £1.2 billion in stamp duty in July 2024

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Chancellor refuses to rule out increase to capital gains tax

The Chancellor has ruled out raising VAT, income tax rates or National Insurance rates, but this has added speculation on whether other taxes will be increased.

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VAT on Amazon Fees from 1 August 2024

From 1 August 2024, selling fees charged by Amazon to UK vendors will be subject to VAT at 20%.

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Changes to non-domiciled tax status to go ahead

The previous government included plans to end non-domiciled tax status at the Spring Budget and replace it with a 4-year foreign income and gains (FIG) regime

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HMRC conducting Business Asset Disposal Relief checks

The Institute of Chartered Accountants in England and Wales (ICAEW) have reported that HM Revenue and Customs (HMRC) are contacting taxpayers they believe may have overclaimed Business Asset Disposal Relief.

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VAT on school fees from January 2025

As the Chancellor was speaking in the House of Commons the Treasury published draft legislation on VAT for private school fees with forestalling measures from October

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Changes to HMRC Helpline Services for Construction Industry Scheme

HMRC helplines will no longer deal with requests for payment deduction statements (PDS) for the Construction Industry Scheme

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Chancellor’s Speech: What are the Tax and Compliance Implications?

The new Chancellor of the Exchequer, Rachel Reeves, has delivered her first speech as Chancell oroutlining her plans for revitalising the UK economy

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Growth Guarantee Scheme now open for applications

The successor to the Recovery Loan Scheme, the Growth Guarantee Scheme, has now been launched by British Business Bank.

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Reminder: P11D form submission deadline rapidly approaching

The deadline – 6 July – for reporting expenses and benefits to HM Revenue & Customs (HMRC) is rapidly approaching.

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Buying a second home: what should you think about?

As accountants, we are often asked about the financial and tax implications of buying a second home.

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Financing business asset purchases: Lease, Contract Hire or Hire Purchase?

Choosing how to finance your new asset doesn’t have to be complicated. By considering your businesses cash flow, how long you’ll need the asset, and whether ownership matters, you can pick the best option for you.

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Reforms to leasehold properties becomes law

The Leasehold and Freehold Reform Act has become law and will affect owners of freeholds for leasehold properties as well as house builders.

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Workers urged to check tax codes following 'costly mistake'

The government has urged millions of UK workers to check their tax codes following a 'costly mistake' which could result in lower salaries.The caution comes in the wake of incidents where workers have inadvertently paid too much tax on their earnings, despite not being at fault.

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New planning rules reduce red tape for farmers

New planning laws that have come into force simplify the conversion of unused farm buildings into new homes, farm shops, and gyms.

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HMRC advisory fuel rates for company car users from 1 June 2024

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 June 2024.

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Warning on scam letters impersonating Companies House

Scammers are targeting business owners using a letter asking for a £48 payment to access enhanced web filing on the Companies House register

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WorkWell: £64M Initiative for Workplace Health

The UK government has announced a new initiative aimed at helping people with health conditions stay in or return to work.

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Investing in an Unquoted Trading Company

If you are considering lending money to, or subscribing for shares in, an unquoted trading company then, like many investments, there is always a risk that you may lose your money.

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