Scotland’s new First Minister Humza Yousaf has announced a new £15 million investment to help tackle child poverty. This investment will see thousands more low-income families benefit from free school age childcare. Existing services for eligible families in areas of Dundee, Clackmannanshire, Glasgow and Inverclyde will be expanded, with new services set up in other…
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Take advantage of new pension tax reforms
The new pension tax reforms that were announced in the recent Spring Budget took effect from 6 April 2023. The old £40,000 cap on annual pension contributions has been increased by 50% to £60,000, with effect from 6 April 2023. Tax relief for contributions to pension schemes is given at a taxpayer’s marginal rate of…
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Tax Diary May/June 2023
1 May 2023 - Due date for corporation tax due for the year ended 30 July 2022. 19 May 2023 - PAYE and NIC deductions due for month ended 5 May 2023. (If you pay your tax electronically the due date is 22 May 2023). 19 May 2023 - Filing deadline for the CIS300 monthly…
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Check the rules before sharing your generosity
From time to time, it feels good as a boss to be able to treat your team, whether it’s someone’s birthday or as a get-well gift. But there are rules to be followed to prevent you getting in trouble with the taxman. Trivial benefits are small gifts or perks given to employees that are exempt…
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