Tax Tips & News

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01/05/2024

May Tax Tips & News

Welcome to the Lawrence & Co Tax Tips & News monthly newsletter, bringing you the latest news to keep you one step ahead of the taxman.

If you need further assistance just let us know or send us a question for our Question and Answer Section.

We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice on your own specific circumstances. We’re here to help!

Treasury collects £10bn extra in Business taxes

It has been revealed that companies across the UK have paid £95.2 billion in Business taxes in the financial year just finished (23/24) - a rise of £10.3 billion compared to the year before. Read More...

Tax penalty fears for pensioners as millions ‘dragged into net’	New employment rights kick in
Baroness Ros Altmann, a leading campaigner on pensions, has highlighted her fears after figures showing that the number of pensioners liable for tax have doubled in the last 14 years... Read More...	Business owners need to be aware of a batch of new laws that have just taken effect covering employees' rights... Read More...

HMRC helpline axe saga rumbles on as closure looms again

The saga over whether HMRC will axe its tax helpline continues to rumble on, with the latest comments suggesting it may still close after all...
Read More...

May Questions and Answers

May Key Dates

Newsletter issue – May 2024

5^th

Companies House fees are increasing due to the recent introduction of the ECCTA. It will cost £50 to incorporate a company online - an increase from £12. The cost of filing a confirmation statement will go up to £34 (from £13).

5^th

Deadline for a 2024/25 tax credits claim to be backdated to 6 April 2024.

19^th

For employers operating PAYE, this is the deadline to send an Employer Payment Summary (EPS) to claim any reduction on what you'll owe HMRC

22^nd

Deadline for employers operating PAYE to pay HMRC. This is also the quarterly deadline for businesses that pay per quarter. For those paying by post, the deadline is 31 May.

31^st

Corporation Tax Returns are due for companies with year-end of 31 May

31^st

Deadline for P60s for employees who were on your payroll on 5 April 2024

About Us

Lawrence & Co Accountants are based in Harrow, offering local business owners and individuals a wide range of services.

All clients are entitled to fixed fees, work delivered on time and unlimited phone support. Visit our website www.lawacc.co.uk for more information.

Unit 205, Cervantes House 5-9 Headstone Road Harrow HA1 1PD

Lawrence & Co is a trading name of Lawrence & Co