EXPENSES - 08.07.2024
Benchmark subsistence rates - are they worth it?
As an employer you don’t want to waste valuable time on avoidable admin tasks such as processing scores of expenses claims for employees’ subsistence claims. Might benchmark rates be a viable alternative?
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NATIONAL INSURANCE - 08.07.2024
HMRC unable to solve Class 2 NI problem
Class 2 refunds. HMRC has issued a warning for anyone who paid voluntary Class 2 NI contributions through their 2022/23 self-assessment and has subsequently received a refund or credit from HMRC. This may have happened if you submitted your 2022/23 tax return before 31 January 2024. You would have paid Class 2 voluntary contributions if your business profit for 2022/23 was less than the small profits threshold of £6,725, and you indicated you wanted to pay them in the self-employed pages of your tax return. ...
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PROPERTY - 08.07.2024
Improvement and finance losses and how to claim them
You’re making substantial repairs and improvements to your buy-to-let property. You’ve borrowed from the bank to finance the repairs and these loans will wipe out the profit for a few years. What tax relief are you entitled to and how can you claim it?
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SELF-ASSESSMENT - 08.07.2024
Self-assessment 2023/24 - what’s new?
If you’re a sole trader or in partnership you may need to show extra information when completing your 2023/24 tax return. What’s required and how might it affect your self-assessment payment due on 31 July?
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PAYE - 08.07.2024
Why your tax code is now more important than ever
The amount of tax you pay on your salary depends on your tax code. If it’s wrong you’ll pay too much or too little. For many this can be a temporary issue, for others it can be permanent. What’s the problem and what can you do about it?
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CHILDREN - STATE BENEFITS - 08.07.2024
Help with childcare for working parents
As a working parent you probably struggle to balance the needs of your job with those of your children, especially during the long summer holiday. This also poses a problem for employers. How can government childcare schemes help?
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