Inheritance trust funds – make sure you do it for the right reason
When we hear the phrase ‘Trust Fund’, many of us think of the kind of vehicle which enables children of the mega-rich enjoy lives of luxury. But in fact, trusts can be a hugely useful way of organising your assets and ensuring that your wishes are carried out – in a tax-efficient way – after your death.
Academies Accounts Direction
ESFA have very recently issued the Academies Accounts Direction 2022-23, for use in the preparation of academy financial statements for the year ended 31 August 2023.
HMRC late payment interest rate hits 6.75%
HMRC has revised interest rates with late payment bills charged 6.75% from 13 April, the highest level since January 2008
HMRC issues guidance on abolition of pensions lifetime allowance
HMRC recently issued preliminary guidance in regard to the abolition of the pensions lifetime allowance.
Local accountants get litter-picking to ensure gorleston’s beach is super-clean
Locals and holidaymakers will be able to enjoy a cleaner beach at Gorleston thanks to the efforts of a team of litter-picking local accountants.
It’s a treble! Bank holiday-filled month to give early boost to ‘staycation summer’ says hospitality and tourism expert
Hospitality and tourism businesses in East Anglia are set for a welcome boost in trade with three separate bank holiday weekends in May, which could signal another ‘staycation year’ for the region, according to a leading tourism and hospitality expert.
Much more detailed charity annual return will enable charity commission to ensure the charitable sector is more resilient
In the same way that limited companies have to file an Annual Return to Companies House each year confirming and/or updating their details, charities are required to file an Annual Return to the Charity Commission.
Company Benefits and Expenses – Areas to Consider: Employee Benefits
Employers have until 6 July 2023 to report any taxable benefits and expenses provided to their employees (including company directors) during the 2023 tax year on the forms P11D and will have to settle any National Insurance arising on these by 22 July 2023.
Due to the reversal of the additional 1.25% on national insurance rates in November 2022, Class 1A national insurance on employee benefits is at a rate of 14.53% for the 2023 tax year.