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Around 1.1 million taxpayers who failed to submit the self assessment tax return for 2022/23 on 31 January 2024 now face a £10 daily penalty charge by HMRC.

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On 27 March 2024, the Financial Reporting Council (FRC) issued Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and other FRSs – Periodic Review 2024, concluding its second periodic review of the financial reporting standards.

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The fees associated with incorporating and maintaining a company will rise from 1 May 2024, due to an increase in charges from Companies House.

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There’s no respite for HMRC with inheritance tax (IHT) accounts, undeclared dividend income and gains from share disposals to scrutinise.

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Companies House is introducing wide-ranging reforms – subject to new legislation being in place – from 4 March 2024. Directors need to get ready for the first tranche of measures.

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With vehicle technology improving and more choice, the tax benefits of electric cars and vehicles are increasing for drivers and business owners alike.

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Personal tax planning before the end of the tax year is important to ensure you make the most of tax reliefs and allowances. This blog offers advice on just some of the opportunities you could consider. It contains ideas affecting income and investments.

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On 17 October 2023 the EU removed the British Virgin Islands from it’s list of non-cooperative jurisdictions for tax purposes – the EU Blacklist.

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From 2024/25, restrictions to the cash basis will be removed, making it the default method for calculating trading profit for the self-employed and most partnerships.

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The transition to hybrid and home working has been difficult for many. Understanding and managing the overall impact for your business is paramount.

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The two existing research and development (R&D) tax relief schemes are set to merge, although the newly created scheme will be similar to the R&D expenditure credit currently claimed mainly by large companies.

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HMRC are continuing to crack down on suspected fraud in labour supply chains. Labour supply chain due diligence is critical to avoid being liable for unpaid taxes, National Insurance contributions, fines and penalties.