Premier Accounts Blog

Self-assessment payments on account

by | Dec 1, 2022 | Income Tax

Self-assessment taxpayers are usually required to pay their income tax liabilities in three instalments each year. The first two payments are due on:

31 January during the tax year e.g. for 2022-23

Autumn Finance Bill published

by | Dec 1, 2022 | General

The government published the Autumn Finance Bill 2022 on 22 November 2022. The Bill is officially known as Finance Bill 2022-23. The Bill contains the legislation for many of the tax measures

CGT tax-free allowance reducing

by | Nov 24, 2022 | Capital Gains Tax

In the Autumn Statement, the Chancellor announced that the annual exempt amount applicable to Capital Gains Tax (CGT) is to be more than halved next year. This rate had previously been fixed at

Personal tax allowances frozen to April 2028

by | Nov 24, 2022 | Income Tax

Chancellor Jeremy Hunt announced as part of the Autumn Statement measures that the Income Tax thresholds will be maintained at their current levels for a further two years until April 2028. This will

Corporation Tax increases from April 2023

by | Nov 24, 2022 | Corporation Tax

The Corporation Tax main rate will increase to 25% from 1 April 2023 for companies with profits over £250,000. A Small Profits Rate (SPR) of 19% will also be introduced from the same date for

CGT – share exchange

by | Nov 24, 2022 | Overseas personal tax issues

One of the more ‘niche’ measures introduced as part of the Autumn Statement measures related to Capital Gains Tax: Share for Share Exchange.

This is intended to stop UK tax being avoided by non-UK

MTD for ITSA

by | Nov 24, 2022 | Income Tax

The introduction of Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) is set to commence from April 2024. This means that clients who have not yet prepared for the change have less than