HMRC is currently sending the annual tax credit renewal packs to the 730,000 tax credit claimants and is encouraging recipients to renew their tax credits claim online. HMRC started writing to taxpayers on 2 May and expects all packs to be with recipients by the 19 June 2024. Renewal packs with a black stripe across […]
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An overseas company must register with Companies House if they want to set up a place of business in the UK. This would mean that the overseas company has a physical presence in the UK through which it carries on business. If an overseas company does not have a physical presence in the UK, they […]
There have been a number of significant changes in Companies House fees. These changes took effect on 1 May 2024. The last significant change in fees occurred in April 2016. The new fees have been calculated on a ‘cost recovery’ basis meaning that the fees are calculated based on what it costs to provide the […]
1 June 2024 – Due date for corporation tax due for the year ended 31 August 2023. 19 June 2024 – PAYE and NIC deductions due for month ended 5 June 2024. (If you pay your tax electronically the due date is 22 June 2024). 19 June 2024 – Filing deadline for the CIS300 monthly […]
In a recent email Companies House warned company owners to ignore a letter purporting to be from Companies House. Basically, the letter claims you need to make payment for Enhanced Web Filing Access. This is a scam letter. Do not follow any instructions in the letter. If you want to report receipt of the letter […]
Most small companies are set up with a number of Ordinary shares, let’s say a 100 shares in this example. If there are two equal shareholders, John and Mary, they would each receive 50 shares. In most cases, the rights of the ordinary shares – in this 50:50 example – would entitle the shareholders to […]
In the latest of new legislative changes that have granted Companies House new powers, the Registrar has turned it’s attention to the registration of company names. Here’s what they have announced on this topic: “We’re running stronger checks on company names which may give a false or misleading impression to the public. This will help […]
Recent legislation changes have been made which affects how the Court Funds Office (CFO) holds dormant funds. From 1 June 2024 any account that has been held dormant within the CFO for 30 years or more will be surrendered and any future right to claim the funds will be extinguished. Funds are classified as dormant […]
Trivial benefits are small gifts or perks given to employees that are exempt from tax and benefit reporting obligations. But bosses must adhere to certain conditions, such as a cost limit of £50 per employee – or the average cost per employee if provided to a group of employees. Additionally, the benefit cannot be cash […]
Death and taxes are certainties of life, according to Benjamin Franklin, and if you are in business, you should be aware which taxes you are liable to pay. Our mantra is – by understanding the taxes that your business is required to pay – you can plan and budget accordingly. No surprises… There are several […]