info@notjustbookkeeping.co.uk

Tips for Tax-Free Savings Income in 2024/25

In the current tax year, you can enjoy some savings income tax-free within certain limits. The availability of these tax-free routes depends on your tax rate. The New Savings Allowance Both basic and higher rate taxpayers have a savings allowance in addition to their personal allowance. For the 2024/25 tax year, the savings allowance is…

Read article
Key Highlights from the Spring Budget 2024 Unveiled by Chancellor

On March 6th, the Chancellor presented the highly anticipated Spring Budget 2024, introducing a range of measures aimed at bolstering economic growth, improving public services, and tackling immediate challenges while laying the groundwork for long-term sustainability. Here’s a breakdown of the key takeaways: Tax Relief for Working Families In a bid to reward hardworking families,…

Read article
Another milestone achieved on the journey towards establishing the Gold Standard in Accounting for SMEs.

Since our inception in early 2015, we have consistently led the charge in delivering unparalleled accountancy services and bespoke payroll solutions tailored specifically for Small and Medium Enterprises (SMEs). This has been made possible through the unwavering dedication of our team of professionals spread across the UK and Europe, united with a singular mission: to…

Read article
National Insurance cut for employees and directors

In his November 2023 Autumn Statement, the Chancellor announced a reduction in the main primary rate of Class 1 National Insurance from 12% to 10%. Rather than waiting until the start of the 2024/25 tax year to bring in the change, it applies from 6 January 2024. The change will benefit employers and directors, but…

Read article
Understanding Tax on Overseas Property for UK Residents

Owning property overseas can be a dream come true, but for UK residents, it comes with the responsibility of understanding and managing the associated tax implications. In this article, we’ll guide you through the key aspects of tax on overseas property, helping you navigate the complexities and ensuring compliance with the UK tax laws.  …

Read article
Telling HMRC that you have no corporation tax to pay

If you have a company that is dormant and you have filed your company tax return showing that no tax is due, you may think that there is nothing further you need to do as regards the lack of corporation tax due. After all, you have filed a return which shows that you have nothing…

Read article