1 June 2023 - Due date for corporation tax due for the year ended 31 August 2022. 19 June 2023 - PAYE and NIC deductions due for month ended 5 June 2023. (If you pay your tax electronically the due date is 22 June 2023).…
Day: 5 June 2023
Transfer of Business as a Going Concern
The transfer of a business as a going concern (TOGC) rules concern the VAT liability on the sale of a business. Normally the sale of the assets of a VAT registered or VAT registerable business will be subject to VAT at the appropriate rate. Where…
HMRC interest rates increase again
The Bank of England’s Monetary Policy Committee (MPC) met on 10 May 2023 and voted 7-2 in favour of raising interest rates by 25 basis points to 4.5% in a move to try and continue to tackle continued inflation. This is the twelfth consecutive time…
Withholding tips from staff now unlawful
A new law that stops employers from withholding tips from people working in the hospitality, leisure and services sectors has come into force. The Employment (Allocation of Tips) Act 2023 received Royal Assent on 2 May 2023. The Bill makes it unlawful for businesses to…