August 2024 - Newby Castleman

14th August 202415th July 2025

Do you receive savings interest?

2 minutes to readWith interest rates at a historic high over the last year, savers should check their bank or building society interest income for 2023/24. Some people are now falling into the Self Assessment tax return bracket due to the extra interest savings accounts have been paying. You may pay tax on a salary through Pay As …

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13th August 202413th August 2024

Using cash basis accounting

2 minutes to readThere are important changes to the rules on cash basis accounting, aimed at driving many more businesses into using the scheme. As a result, most unincorporated businesses will need to decide what to do next. We look at the factors involved, and what moving to the cash basis might mean for you. Our publication gives the …

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5th August 20245th August 2024

VAT and private school fees

2 minutes to readIt was confirmed last week that VAT will be charged on private school fees across the UK. This will take place from 1 January 2025. In addition, business rates charitable relief for private schools in England will cease. The tax changes will also enable private schools to recover VAT they have incurred on their expenditure. …

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