Are you a part-qualified ATT or perhaps already an ATT qualified individual seeking a vibrant change from the hustle and bustle of London? Are you tired of working in isolation and longing to be part of a friendly, fun team with constant support for both your professional and personal development? Look no further – HB Accountants is looking for you!
Category Archives: Tax
Updates to National Insurance Contributions (NICs) and Tax Policies – Spring Budget April 2024
Changes to National Insurance contributions (NICs) and tax policies have been announced by the Chancellor. Take a look at the upcoming adjustments, including reductions in NICs rates for employees and the self-employed, changes to Capital Gains Tax rates, the introduction of a new British ISA allowance, updates to VAT registration thresholds, and plans to extend Full Expensing to leased assets. These changes are effective from 6 April 2024 and aim to support individuals and foster investment in promising UK enterprises.
Getting Ready to leave School or College? Your choices, Your Finances
If you are getting ready to leave school or college, you need to know how your next choices might affect you financially. Here is our guide to your next steps after school or college – this will be updated in the next few weeks to reflect the updates from the Chancellor’s Spring Budget on 6th March 2024 and the new tax rates for 24/25.
Continue readingWhat Do Accountants Do?
Accountants aren’t just the data analysts you might think they are. Sure, math skills are important, but modern accounting is much more dynamic. Accountancy is problem-solving. Accountancy is detective work. Accountancy is communicating with both your clients and your colleagues. Read on if you are feel a career in accounting or auditing could be for you.
HMRC’s New Advisory Fuel Rates (AFRs) for Company Cars: from 1st March 2024
Changes have been made by HMRC to the advisory fuel rates (AFRs) for all journeys on or after 1 March 2024 for company car drivers claiming back fuel costs from their employer. The rates are reviewed quarterly and are applicable where employers reimburse employees for business travel (company cars); or where employers require employees to repay the cost of private travel
Maximising Tax Efficiency: The Ultimate Guide to Year-End Financial Planning by HB Accountants
As we near the end of the tax year on 5 April 2024, it’s essential to take stock of your family and business finances. Although tax rates and thresholds remain stagnant, the government’s tax revenue keeps climbing. Nonetheless, there are still plenty of practical ways to manage your affairs tax-efficiently, and we’re here to guide you through some of these strategies.
Unbelievable excuses for tax returns that miss the Jan 31st filing deadline
The deadline for submitting your Self Assessment tax returns online for the tax year 22-23 is fast approaching! Tax returns must be filed by 11.59pm on 31 January 2024 and any tax owed from the 2021/22 tax year must also be paid to HM Revenue & Customs (HMRC) by this date – you won’t believe some of the laughable excuses HMRC have received in the past for late submissions
How to pay your UK self assessment tax bill to HMRC and Important Deadlines
The deadlines for paying your tax bill are usually 31 January for 1) any tax you owe for the previous tax year which is called your balancing payment) and 2) your first payment on account. The deadline for second payment on account is usually 31 July. Here is how to pay:
What is the difference between a payment on account and a balancing payment to HMRC?
A balancing payment and a payment on account are not the same thing, but they are related concepts in the UK tax system. Both are part of the process of managing your tax payments with HMRC. Here we explain the difference:
Changing Accountants: moving to a new accountant
Switching accountants is easy and doesn’t need to cause stress, effort, or disruption to your business. Despite what an accountant may allude to, it can be a simple process. If changing accountants feels like the right move for you, read on