by Paul Whyatt | Jan 16, 2024 | Personal Tax, Taxation
The cash basis is to replace accruals for the self-employed as the standard tax reporting method for the tax year 2024-25 (first year of tax year accounting). From April 2024, as part of a move to simplify calculation of taxable profits for Making Tax Digital, all...
by Paul Whyatt | Jan 2, 2024 | Business Advice, Business Tax, Personal Tax, Taxation
The headline news from the Autumn Statement was the reduction of primary Class 1 and Class 4 NIC and the removal of compulsory Class 2 NIC. The main rate of primary Class 1 NIC paid by employees on earnings between £12,570 and £50,270 per year will be reduced from 12%...
