As with many new measures when they are first announced
by HMRC or the Treasury, it takes some time for these to trickle through to come into effect. The government announced
at Spring Budget 2023 that it would consult on expanding the cash basis. A formal consultation on proposals was
launched on 15 March this year and ran until 7 June. And now the measure has taken the next step, having been announced
in the Autumn Statement.
HMRC stated: “This measure changes how the cash basis operates for trading income….

We’re reaching that familiar point of the year again when the deadline for Self-Employment
Tax Returns begins to loom.
The best advice we can always offer to our clients is to collect all the relevant information and documents and share these with us as soon as possible.
Of course, the key date everyone focuses on each year is January 31 – the HMRC deadline for submissions.
However, it’s wise to provide your tax return information to us before the new year to ensure there are no last-minute rushes and to…

This is another article about Self-Assessment, specifically Student Loans and applies where:

– A taxpayer has an obligation to complete a Self-Assessment return, and
– They have an outstanding Student Loan balance (or Postgraduate Loan)
– Some of the Loan repayment is calculated in the employer’s payroll but the balance is due because of information declared on the tax return and
– The employer was payrolling benefits meaning the taxpayer’s taxable income was inflated

HMRC have advised their system calculates the Student Loan due based on taxable pay. This is incorrect. Student Loan repayments are…

These affect us personally and professionally and if you have policies and procedures regarding Statutory Paternity Leave (SPL) and Pay (SPP), be aware of changes coming from the start of the 2024/25 tax year. This information is provided to help you prepare. 

The Government committed to making it easier for fathers to take leave (and pay) as follows:

– The 2 weeks can be taken in non-consecutive blocks of one week (compared to the fixed regime now)

– Instead of having to take the 2 weeks within…

The deadline for registering for Self-Assessment is 05 October 2023 (for 2022/23 tax year with tax returns due by 31 January 2024). Individuals must complete and send a tax return if, in 2022/23:

– You had self-employed income above £1,000, or

– You are a partner in a business partnership, or

– You were liable to pay the High Income Child Benefit Charge, or

– You had taxable income over £100,000

There are also other situations where you may have to complete a tax return…