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VAT threshold changes

< 1 minute to read 1 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 read In 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 read As part of an ongoing intention to improve the quality and reliability of Companies House information, various changes have come 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 …

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REVERSAL! Double cab pickup trucks latest

< 1 minute to read 20.2.24 HMRC announce a u-turn on the classification change we reported on last week. So.. for now, double cab pickups will continue to be treated as goods vehicles rather than cars, and businesses and individuals can continue to benefit from its historic tax treatment. The government will change the law at the next available Finance …

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Budget: 6 March 2024

7 minutes to read The 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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