News - Holeys

04-05-2023

Businesses must get to grips with a Government crackdown on fraud committed by employees

A new ‘failure to prevent fraud’ offence is being introduced by the Government to encourage businesses to do more to deter offending, which will ultimately protect themselves,

04-05-2023

Striking the perfect balance: Director’s salary and dividends for 2023/24

As a business owner, determining the ideal salary for company directors can be tricky. Often, most directors will want to balance their salary and dividend payments to

04-05-2023

683,000 higher rate taxpayers opt out of child benefit as thresholds remain frozen

The High Income Child Benefit Charge (HICBC) was introduced in 2013 and was set up to charge tax on individuals claiming child benefits who were earning a

04-05-2023

Landlords are latest group targeted by HMRC ‘nudge’ letters

Residential landlords are the latest group to have been targeted in receiving ‘nudge’ letters from HM Revenue & Customs (HMRC). The letters are part of a targeted

04-05-2023

What is the Residence Nil-Band Rate? And why does it matter to you?

The Residence Nil Band Rate (RNRB) was introduced by the Government in 2017 and benefits families passing on their main property to a direct descendent. Since its

04-05-2023

Fiscal drag bites on earners

Changes to personal tax allowances and higher interest rates have seen a growing number of people being affected by fiscal drag. Fiscal drag is the phenomenon

04-05-2023

Changes to the repayment of Student Loans begin in August

The way in which Student Loans are repaid is changing and employers need to be prepared. Currently, graduates and students who have taken out student loans are

04-05-2023

P11D – Are you ready to report and pay tax on Benefits in Kind?

Benefits in Kind (BIK) cover a number of different perks or additional payments made by employers to their employees. They can include any of the following: Private

18-04-2023

Government announces shakeup in the payment of Benefits in Kind

The Government has announced a shake-up in how Benefits in Kind (BIK) are paid. The move will allow tax agents to run payroll BIK on behalf of

18-04-2023

Be prepared for business rate changes as rateable value update takes effect

The Valuation Office Agency (VOA) has updated the rateable values of all businesses, and other non-domestic, properties in England and Wales from 1 April 2023. The Government

18-04-2023

How do changes in Corporation Tax affect my business?

Changes to the amount of Corporation Tax (CT) businesses pay came into effect on 1 April. From that date, the main rate of CT rose from 19

18-04-2023

Crypto transactions to become part of Self-Assessment under new regulations

The Government has announced there will be greater scrutiny on the reporting of all crypto transactions, including for cryptocurrencies and non-fungible tokens (NFTs). HM Revenue & Customs