by Terry Phillips | Sep 4, 2023 | Tax return, accountancy, Accountants, Business Owner, director, hmrc, Income Tax, partner, Self employed, Self-Assessment, Sole trader, tax
Accountants Chester – Tax Tip No. 36 If you need to file a Self Assessment tax return for 2022/23, you have until midnight on 31 January 2024 in which to do this, as long as you file online. However, HMRC have been encouraging taxpayers to file their tax return...
by Terry Phillips | Jul 24, 2023 | tax, accountancy, bookkeeping, Business Owner, director, employee, Employer, Family Business, hmrc, Income Tax, Limited Company, MTD for VAT, Self employed, Self-Assessment, Sole trader, Tax return, VAT
Accountants Chester – Tax Tip No. 31 The Employment (Allocation of Tips) Act 2023 sets out a new legal framework for the fair allocation of tips. A new Code of Practice is to be introduced and employers will have a legal obligation to adhere to the Code. It will...
by Terry Phillips | Jul 7, 2023 | Company Expenses, employee, Employer, Employment, expense claims, expenses, hmrc, Income Tax, tax, tax rebate
Accountants Chester – Tax Tip No. 28 Employees often need to incur expenses when undertaking their jobs. The nature of the expense may vary depending on the job, but typical expenses include travel and subsistence expenses and fees and subscriptions. It will...
by Mark Phillips | Jul 2, 2023 | accountancy, Business Owner, Company Expenses, director, Employer, Employment, expense claims, expenses, hmrc, Income Tax, making tax digital, Mobile phone benefit, tax, tax rebate
Accountants Chester – Tax Tip No. 28 The tax system contains a number of exemptions, some of which are more useful than others. One of the more valuable exemptions is that for mobile telephones. As long as the associated conditions are met, an employee can use...
by Mark Phillips | Jun 25, 2023 | Personal Allowance, accountancy, Accountants, Business Owner, director, dividends, Employment, hmrc, Income Tax, making tax digital, MTD ITSA, partner, Self employed, Sole trader, tax
Accountants Chester – Tax Tip No. 26 The personal allowance is set at £12,570 for 2023/24. However, not everyone is able to benefit from the personal allowance. A taper applies which gradually reduces the personal allowance until it is lost. The taper applies...
by Mark Phillips | Jun 11, 2023 | accountancy, Accountants, Business Owner, director, dividends, Family Business, hmrc, Income Tax, Limited Company, Profit Extraction, Shares, tax
