Jacquelyn Kimber, Author at Newby Castleman

8th February 202423rd April 2024

Budget: 6 March 2024

7 minutes to readThe 2024 Spring Budget The main themes in the Spring Budget delivered by Chancellor, Jeremy Hunt, on 6 March were growth, public services and lower taxes. On growth, there was relatively little to excite – the Office for Budget Responsibility upgraded its forecast for the current year by 0.5% and now predicts the UK economy …

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17th January 202417th January 2024

Do you hold or trade cryptoassets?

< 1 minute to readIf you receive cryptoassets from employment, or sell or exchange cryproassets, you may need to complete a Self Assessment tax return for the 2022 to 2023 tax year. Any income or gains above the tax-free allowance should be declared. The deadline to complete a tax return and pay any tax owed is 31 January 2024. …

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3rd January 20243rd January 2024

Tax and the side hustle

2 minutes to readDo you sell unwanted items online? Is your creative interest bringing in a top-up income? The ease of online trading has been with us for several years now, and with apps like eBay, Vinted and Etsy, it has never been easier to turn unwanted items into cash. Add to the above Airbnb letting, renting out …

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29th November 20233rd January 2024

Autumn Statement: Corporation Tax review

3 minutes to readAfter better-than-expected inflation figures and the desire to shed his party’s reputation as overseeing the biggest increase in the tax burden since the Second World War, for businesses the Chancellor: – made full-expensing of capital expenditure a permanent feature of the UK tax framework – confirmed the planned start date of 1 April 2024 for …

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1st November 202322nd November 2023

Autumn statement: 22 November 2023

4 minutes to readA ‘transformational’ Autumn Statement? With better-than-expected inflation figures the Chancellor of the Exchequer, Jeremy Hunt appeared keen to shed his party’s reputation of having overseen the biggest increase in the tax burden since the Second World War. With a total of 110 changes, the speech was billed as ‘a plan to unlock investment, reward work and …

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7th August 20237th August 2023

Claiming R&D tax relief? New process from 8 August 23

4 minutes to readChanges to the process for claiming R&D tax reliefs and allowances, and what they mean for your business need careful attention right now. From 8 August all R&D claims must be made electronically through HMRC’s portal, alongside detailed information regarding the claim. R&D tax relief R&D tax relief supports companies that work on innovative projects …

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12th July 202323rd August 2023

Tax treatment of software and design costs

2 minutes to readWhat does a business owner need to know about the treatment of ‘digital expenses’ and their potential tax consequences? Whether you are at the planning stage, or an established business, it is worth speaking to one of our experts to check you are making the most of the digital investments you are making. Background First, …

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17th April 202314th August 2023

2023-2024 Tax cards

< 1 minute to readOur latest tax cards are a concise summary of the tax rates, allowances and bands for the tax year 2023-2024. Useful to refer to if you want to check – Income Tax Income Tax reliefs Individual Savings Accounts Capital Gains Tax Inheritance Tax Car, van and fuel benefits National Insurance Tax reliefs for individuals Follow …

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1st March 202325th April 2023

Tax planning: Savings and investments

4 minutes to readFor tax efficiency on savings and investments read our fourth guide here, or contact either our Leicester or Loughborough accountants. Savings The Savings Allowance (which applies across the whole of the UK) allows interest of up to £1,000 from savings such as – bank and building society accounts – unit trusts – trust funds to …

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28th February 202320th March 2023

Spring Budget: Our summary

4 minutes to readAs anticipated, Chancellor Jeremy Hunt’s first Budget was heavily focussed on a push for economic growth, by offering tax breaks to stimulate business investment, and address pressures on the UK’s workforce by providing incentives to remain in or return to employment. Whilst few would have been expecting much in the way of tax giveaways, the …

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