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Archive:October 2023

Please find below all the articles from October 2023.

Register for Self-Assessment – The Deadline Approaches

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…

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R&D Tax Relief – Additional Information Required

Research and Development (R&D) is a Corporation Tax relief that is a Government support to some UK companies working on innovative projects in science and technology. There are currently two R&D schemes:

– For large companies, Research and Development Expenditure Credit (RDEC) and

– For small or medium enterprises (SMEs), SME R&D tax relief

There are strict terms and conditions of eligibility and the Government has introduced measures to tackle what it perceives as abuse of this support package and non-compliance. At the same time, though, they…

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Advisory Fuel Rates – MUST Be Effective 01 October 2023

The Advisory Fuel Rates (AFRs) have had their quarterly review and HMRC published revised rates from 01 September 2023. With rising fuel prices again, it’s not surprising there were changes – mainly for cars with a higher cc. The following rates are effective 01 September 2023 but HMRC say the old rates can be used for one month from this date. So, from 01 October 2023 you must be using the following rates (with the old rates in brackets and * indicating where there’s been a change):


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