Tax Briefing Winter 2022 Dividend tax Dividends are taxed at much lower rates than other forms of income and they are not subject to national insurance contributions (NIC). This can make taking income from your own company in the form of dividends far more attractive than paying yourself a bonus. All taxpayers are currently entitled […]
Twists and turns When the Chancellor of the Exchequer makes a fiscal statement to Parliament – whether it is called a Budget, a mini-Budget or an Autumn Statement – the headlines are in the speech and the details are in the Treasury Red Book that is published on the internet when he sits down. In […]
From the 1st January 2023 the VAT penalty system is changing to a points based system. There are two trigger points for this: Late filing of a VAT return, and Late payment of the VAT liability As most traders use quarterly filing then we will cover this. Late filing of the VAT return To get […]