Have you noticed your employment income go up this month?
This may well be because the National Insurance rates have fallen, which although small changes, could mean some tax planning is required.
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Never miss a beat
Do you think your company might be eligible for Research and Development tax relief?
If so, it’s more important than ever to be communicating with your accountant and making sure that you aren’t caught out by the new rules in place and subsequently prevented from submitting a claim.
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Hello to Vicki!
When our clients are happy, we’re happy.
So we’re very excited to welcome Vicki Slee as our new Client Experience Manager, the day-to-day face of Frost Wiltshire, with particular responsibility for helping our clients feel thoroughly well looked-after.
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Tick tock
The deadline for filing a self-assessment tax return is 31 January 2024.
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Everything changes
If you have your own business and are self-employed rather than operating through a company, you may find a substantial change in the coming years. This is because the timing of when profit is recognised on your tax return is changing.
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All rise
From 1 April 2023, the rate of Corporation tax has gone up. This won’t hit all companies but will have an impact on many businesses so now is a great time to think about some tax planning.
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I don’t want to miss a thing
There have been some significant changes around the administrative side of research and Development (R&D) for companies.
One change is that from 8 August 2023, it is necessary to complete and submit an additional information form (AIF) in advance of submitting the actual claim and corresponding corporation tax return. If this is not done, the claim will get rejected.
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It’s beginning to look a lot like Christmas
The tree is up in the office at our lovely country base and looking fantastic!
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All the leaves are brown
The Autumn statement has been announced and perhaps the most surprising part for many was the fall in Employee National Insurance. It was anticipated that this would fall, but it has been cut more than some predicted; by 2% (from 12% to 10%).
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Electric Avenue
With taxes on the rise, now is a really good time to be thinking about where savings can be made. An employer supplying an electric car (which can be through a salary sacrifice) can be really tax efficient, particularly for an owner managed business.
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