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Spring Budget 2024 – Alcohol and Tobacco Duty
As part of the Spring Budget measures, the Chancellor announced that the duty rates on beer, cider, wine and spirits would be frozen at the current rates from 1 August 2024 until 1 February 2025. This
Spring Budget 2024 – CGT on disposals of residential property
A higher rate of Capital Gains Tax (CGT) applies to gains on the disposal of residential property if the gain falls into the higher rate band. In the Spring Budget, the Chancellor announced a
Spring Budget 2024 – non-dom changes
In a move that may partly have been prompted by seeking to mirror a longstanding policy of the Labour party, the Chancellor has announced that the generous non-dom rules are to be axed.
From April
Spring Budget 2024 – Fuel Duty rates
In the Spring Budget, the Chancellor extended the fuel duty cut for a further 12 months to help support households and businesses at a time of high oil prices. The Chancellor acknowledged that the
Budget summary 6 March 2024
As expected, the Chancellor has found wriggle room in his fiscal rules that have allowed him to please his fellow Conservatives by reducing the impact of taxation. Not an unfamiliar tactic for a
Pension fund reforms
The Chancellor announced pension fund reforms as a further step in the government’s plan to boost British business and increase returns for savers. This includes requirements for Defined Contribution
Companies House rolls-out new powers
The first measures under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force on Monday 4 March 2024.
Changes introduced include:
greater powers to query information
Contractors and CIS
The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction industry are known as
Advise HMRC if company is dormant
If a company has stopped trading and has no other income, then the company is usually classed as dormant for Corporation Tax purposes.
A company is usually dormant for Corporation Tax if it:
has
Appeals against tax penalties
It is not unusual for taxpayers to find themselves in a position where they disagree with a tax decision issued by HMRC. There are a number of different options open to taxpayers seeking to use the
