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Changes to VAT registration details? Update online only

< 1 minute to readHMRC is withdrawing the paper form VAT 484 used to notify changes to a trader’s VAT registration information. From 5 August 2024, changes will need to be made either: – by a trader’s agent through their Agent Services Account, or – through a trader’s own business VAT online (gateway) account. However, changes to bank details …

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Accountancy & tax update for charities

< 1 minute to readOur Charity News summarises the latest accountancy and tax guidance for the not-for-profit sector. Highlighted in this issue is information about the new Annual Return for 2023 (AR23). This online form should be used by charities that generate yearly incomes of £10,000 or more, and must be completed within 10 months after the conclusion of …

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Economic Crime & Corporate Transparency Act 2023

< 1 minute to readNew to our publications section is a summary of the Economic Crime and Corporate Transparency Act 2023. This passed into law at the end of last year with the aim of tackling fraud. The foundation for these reforms was Russia’s invasion of Ukraine. Then powers were introduced to challenge money laundering. Also featured in the …

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VAT threshold changes

< 1 minute to read1 April 2024 saw the VAT 12-month taxable turnover threshold rise from £85k to £90k. This measure was announced by the Chancellor in the Spring Budget with the aim of helping to support small and medium-sized enterprises (SMEs). The deregistration threshold limit also increased by £5,000 from £83,000 to £88,000 from 1 April 2024. For …

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2024/2025 Tax Data

< 1 minute to readIn an easy-to-read format, our tax data cards contain a snapshot of the tax rates and bands for individuals and businesses for the financial year 2024/25. Download a copy here, or get in touch with either our Leicester or Loughborough offices for a printed card. Rates, bands and allowances covered include those for: Income Tax …

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Companies House changes now in force

< 1 minute to readAs part of an ongoing intention to improve the quality and reliability of Companies House information, various changes came into force on 4 March 2024. These relate to company incorporations and in the information held by Companies House. The information Companies House has about a limited company should be validated annually, this being the responsibility …

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