The Chancellor delivered his 2024 ‘Budget for long-term growth’ in the face of an upcoming general election. Although the headlines have been dominated by the news that employee National Insurance Contributions will be cut further to eight per cent, Mr Hunt also announced several measures, which changed how certain property taxes will be applied. Largely […]
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With over 11.5 million returns submitted by the 31 January deadline, Self-Assessment season has given rise to bogus rebate offers – with Weybridge-based accountancy firm MGI Midgley Snelling LLP warning that personal details and banking information could be at risk. HM Revenue & Customs (HMRC) has reported a steep increase in the number of suspicious […]
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Vote-winning measures took the top spot in the Spring Budget, says MGI Midgley Snelling LLP as Chancellor Jeremy Hunt delivers his ‘Budget for long-term growth’. The headline measure for businesses, a rise in the threshold at which businesses and sole traders must register to pay VAT from £85,000 to £90,000, while beneficial, reflects long-standing fiscal […]
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Weybridge accountancy firm, MGI Midgley Snelling LLP has married its top-tier personal affairs services with MGI Worldwide’s Global Family Office – creating a one-stop shop for international family wealth planning. A top-20 international network of almost 9,000 audit, accounting, tax, legal and consulting professionals, MGI Worldwide provides a platform to share ideas, knowledge and best […]
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There is a series of impending changes to UK company law as a result of the enactment of the Economic Crime and Corporate Transparency Act last year. These highly anticipated changes, expected to commence on 4 March 2024, subject to parliamentary schedules, will significantly impact the operation and compliance requirements of your company. Directors must […]
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Starting in April 2026, UK employers will have to include the benefits they give to their employees, like company cars or health insurance, directly in their payroll. This means these benefits will be taxed through the payroll system, and not reported separately. This change is to make tax reporting easier for employers, but it also […]
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The Government plans to introduce new legislation to help parents who earn more money than others with their future pensions. In essence, if you did not claim child benefit because you earned over £50,000 when you had children, you will soon be able to claim National Insurance credits. These credits are important for getting the […]
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HM Revenue & Customs (HMRC) has made a significant change to the way that some taxpayers access its alternative dispute resolution (ADR) scheme. Where applicants for ADR could previously speak with a call handler, they will now be asked to leave a voicemail on the new 24-hour service. Available to anyone seeking to settle a […]
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Businesses may be able to reclaim significant amounts of National Insurance Contributions (NICs) and plan for future savings because of a recent Tribunal ruling on how car allowances are taxed. Brought by Wilmott Dixon and Laing O’Rourke in their capacity as employers, the Tribunal upheld the firms’ argument that car allowance payments should qualify for […]
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