Linguards Accountants

Please be aware that we are closed from 2:00 PM today for staff training.

The office will reopen from Tuesday at 9:00 AM as usual.

If your message is urgent, please email us at [email protected] and we will endeavour to get back to you as soon as possible.

After the recent budget we've put together a blog to showcase our thoughts and a bullet point list of changes.

Click the link below to find out more! 📍

UK Autumn Budget 2024 — Linguards Accountants The UK 2024 Autumn Budget, introduced by Chancellor Rachel Reeves, delivered a mix of policies directly impacting small businesses. It emphasizes fiscal stability and growth-oriented incentives while raising revenue through selective tax increases. Here’s an overview of what business owners can ex...

As the new tax year approaches, there has been some updates with statutory pay for employers.

From Sunday 7 April 2024, Statutory Maternity Pay, Statutory Paternity Pay, Statutory Shared Parental Pay, Statutory Adoption Pay, and Statutory Bereavement Pay all increase from £172.48 to £184.03 per week.

As of 6 April 2024, the Statutory Sick Pay weekly rate is £116.75. This is an increase from the £109.40 per week from the 2023/24 tax year.

If you need any assistance with your maternity/sick pay calculation and submission, please contact us we'd be happy to help!

Chancellor Jeremy Hunt announced the Spring Budget on 6th March 2024.

A number of changes were announced, but you can find a summary of the announced tax measures below:

- 2% cut to the main rate of employee national insurance from 10% to 8%
- Self-employed NI cut from 8% to 6%
- Abolished multiple dwellings relief on SDLT
- Reduced the higher rate of capital gains tax (CGT) on property sales from 28% to 24%
- VAT threshold increased to £90,000
- Reformed the high-income child benefit charge
- Introduced brand-new ISA which allows an additional £5,000 annual investment
- Abolished furnished holiday lettings regime
- Abolished the non-dom status
- Introduced duty on va**ng products from October 2026 plus one-off
- Frozen the fuel duty for the 14th year in a row for another 12 months, maintaining the 5p cut
- Extended the alcohol duty freeze until February 2025
- Made tax reliefs for orchestral productions permanent
- £1bn in additional tax relief for creative industries over the next five years
- Extended the windfall tax on oil and gas.

If you have any questions, please do not hesitate to contact us!

As a true a testament to the rules always changing.

Only a week after HMRC released new guidance that classed double-cab pickups as cars rather than vans, the government has now performed a screeching U-turn and has reversed this decision.

Keep up to date by liking Linguards on Facebook and following us on LinkedIn. 📍

The dual-use nature of double-cab pick-ups means they straddle an area between commercial vehicles and passenger cars. To date, the HMRC has declared that any pickup that can carry a payload of one tonne or more is considered a working truck and attracts desirable tax benefits.

That all changes in July, with the HMRC now considering double-cab pick-ups to be cars, as they don’t have a primarily commercial function.

The changes only affect vehicles ordered after 1 July 2024, with owners or lease customers and those with confirmed orders in place benefiting from the current rules until the vehicle is replaced, the lease ends, or 5 April 2028 comes around. At that point, every vehicle will operate under the new tax rules.

Keep up to date by liking Linguards on Facebook and following us on LinkedIn. 📍

We're trying something new, we are launched a blog section on our website which will contain lots of useful news and information regarding tax and running your business.

For our first blog, please see the attached link for our take and notes on the recent Autumn 2023 budget. 📆📍

UK Autumn Budget 2023 — Linguards Accountants A summary of the 2023 autumn budget for business owners and self-employed individuals

Here at Linguards Accountants, we will continue to accept new self-employed clients who need help completing their 2022/23 tax returns, which is due to be submitted by 31st January 2024.

Don’t be caught out by HMRC’s nasty fines and give us a call on 01482 327377 today to see how we can help. ☎️

One week left to renew your tax credits, HMRC warns.

The deadline for tax credits customers to renew their claim is on 31st July, here at Linguards Accountants we offer to complete this service free of charge if you complete your tax return with us.

Please do not hesitate to contact us to find out more on 01482 327377.

Following the Monetary Policy Committee decision to increase the Bank of England base rate, HMRC has announced increases to both the interest charged on late paid tax and the rate paid on repayments of tax.

HMRC has announced that the rate will increase with effect from 3 July 2023 for late quarterly instalment payments. Late payment interest for other late payments will increase from 11 July 2023.