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Spring Budget 2023
The Spring Budget 2023 was announced on 15th March 2023, delivering key changes to Pensions, Childcare, Holiday Tax, Pothole funds and much more. Below we summarise the key points from the budget announcement and break it down into categories including: Households Duties Business The Chancellor Jeremy Hunt, opened the Spring Budget with a bold statement stating ‘The UK will
fuel rates
HMRC have published new advisory fuel rates for company car drivers which will apply from 1 March 2023. This is a ‘At a glance’ guide to advisory fuel rates for company car drivers. The new fuel rates are: Engine size ____ Petrol ____ Diesel ____ LPG ____ Electric* 1,400cc or less 13p 10p 9p 1,600cc or less 13p 9p
VAT penalty points
VAT penalty points came into effect on 1 January 2023; if you submit a VAT Return late (including nil payment returns) you will receive penalty points. The VAT default surcharge is being replaced by new penalties for returns that are submitted late and VAT which is paid late. The way interest is charged is also changing. Below we go
Help For Households
Help for Households is available and help is available for every household. You may have seen the government’s national advertising campaign for ‘Help For Households’. We’ve broken it down below – everything from income support, paying your tax bill, childcare and household costs. Help is available for every household, but if you are unsure – speak to the Robinsons team.
Dividend
A step by step Dividend guide on how to pay and process for companies and their owners. At a Glance: If you are a shareholder, your company may distribute its profits to you by way of a dividend. Paying a Dividend has to follow a proper legal process otherwise the dividend will be illegally paid. An illegal dividend
When Is The Spring Budget 2023
When Is the Spring Budget 2023? The Chancellor Jeremy Hunt has announced he will deliver his Spring Budget 2023 on 15th March 2023. In a written statement he said: “I can inform the House that I have asked the Office for Budget Responsibility (OBR) to prepare a forecast for March 15 2023 to accompany a Spring Budget. “This forecast,
Cost Of Living Payments
In the Autumn Budget 2022 statement, the Chancellor announced a new Cost of Living Payments support package for 2023. The Department for Work and Pensions have now announced when the 2023/24 support payments will be paid. The Cost Of Living Payments are designed to help vulnerable households. We take a look at who is eligible, and when they are
Tax-Deductible Christmas Gifts
Tax-Deductible Christmas Gifts & Expenses Accounting for Christmas Cards Cards are a festive tradition, although lots of organisations may choose to send digital greetings to minimise paper wastage – it is worth noting – if you decide to send cards, these can be recorded as a Tax-Deductible Christmas Gift and expense. Worth noting, that any charitable donations or contributions to
Tax-Free Childcare
HMRC are reminding families to sign up for their Tax-Free Childcare. Families could save up to £2,000 a year towards their childcare costs. HMRC is urging thousands of other families to not miss the chance to save up to £500 every 3 months, or £1,000 if their child is disabled. Families can sign up to Tax-Free Childcare to help pay
Phased Mandation of MTD
Phased Mandation of Making Tax Digital for ITSA Following a government announcement on 19th December 2022, Self-Employed individuals and landlords will have more time to prepare for Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA). The mandatory use of software is therefore being phased in from April 2026, rather than April 2024. From April 2026, self-employed individuals
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