The UK paid a whopping £788.8 billion in taxes in 2022 to 2023, an increase of 10.2 per cent from the year before. As well as income tax, that figure also includes inheritance tax, dividend tax and capital gains tax. No-one wants to pay more tax than necessary. But with busy lives and hectic schedules,…
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Small companies required to file profit and loss when new Bill becomes law
Businesses need to be prepared for changes to the way Companies House operates when the Economic Crime and Corporate Transparency Bill comes into force. As part of the package of reform, all small companies, including micro-entities, will be required to file their profit and loss accounts. The Government expects the changes to “improve transparency” and…
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Companies House fees expected to rise to fund new powers
Companies House is expected to charge higher fees when it is granted new powers. The Economic Crime and Corporate Transparency (ECCT) Bill is already making its way through Parliament. This legislation will change the role and purpose of Companies House to make it a more active gatekeeper over company creation. This would include new powers…
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Retirees set for second bumper State Pension hike as pay inflation soars
State Pensions are expected to rise by 8.5 per cent in April 2024 in line with rocketing wage growth. The Triple Lock policy means the increase in the State Pension is set at the highest of average earnings, inflation or 2.5 per cent. The latest statistics from the ONS recorded growth of average earnings –…
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