Winter Fuel and Cost of Living payments
A raft of money changes comes into play this month which could affect your finances, and as we are approaching the winter season – dark nights and lower temperatures – these support payments to help with energy costs will be gratefully received. These include adjustments to the Ofgem energy price caps, while the latest Cost […]
Tax on trivial benefits
There is a benefit-in-kind (BiK) trivial exemption that applies to small non-cash benefits like a bottle of wine, or a bouquet of flowers given occasionally to employees, or any other BiK classed as ‘trivial’ that falls within the exemption. By taking advantage of the exemption employers can simplify the treatment of BiKs whilst at the […]
Change to Company Accounts filing
The Economic Crime and Corporate Transparency Bill has completed its initial journey through the House of Commons and the House of Lords and is now at the stage known as, consideration of amendments. This is where the second House’s amendments are considered, and the Bill may go back and forth until both Houses agree on […]
Tax Diary October/November 2023
1 October 2023 – Due date for Corporation Tax due for the year ended 31 December 2022. 19 October 2023 – PAYE and NIC deductions due for month ended 5 October 2023. (If you pay your tax electronically the due date is 22 October 2023.) 19 October 2023 – Filing deadline for the CIS300 monthly […]
Autumn Statement 2023
The Chancellor, Jeremy Hunt, has announced that he will deliver his Autumn Statement to the House of Commons on Wednesday, 22 November 2023. This move would imply that the annual Budget will not take place until the spring of 2024. The Autumn Statement is used to give an update on the state of the economy […]
Checking your National Insurance record
HMRC offers an online service to check your National Insurance Contributions (NIC) record online. In order to use the service, you will need to have a Government Gateway account. If you don’t have an account, you can apply to set one up online. By signing in to the ‘Check your National Insurance record’ service you […]
HMRC Self Assessment Tax Returns
Navigating the Maze of Self-Assessment Tax Returns: The Road to Timely Completion and Compliance In the intricate world of tax compliance, self-assessment tax returns stand as a vital component, requiring meticulous attention and precision. At Total Accounting, we understand the nuances of tax returns and strive to complete all the returns by 30th September. This […]
Company Cars
Navigating Company Cars: Understanding Tax Implications and Importance of Professional Guidance The allure of company cars is undeniable, providing convenience and a symbol of status to employees. However, diving into the world of company cars comes with a web of tax implications, often overlooked in the initial excitement. These involve Benefit in Kind (BIK), P11D […]
The benefits of Dext software
Unlocking Efficiency with Dext Software: A Look at Its Benefits and QuickBooks Online Integration In the dynamic world of business management, streamlining your financial processes is crucial to maintain efficiency and accuracy. One of the tools that have emerged as a beacon of financial management efficacy is Dext Software. Integrated with QuickBooks Online, Dext Software […]
QuickBooks Online Cloud Accounting
Optimise Your Business Journey: Leveraging the Efficiency of QuickBooks Online with Total Accounting! Introduction: In digital evolution, tools like QuickBooks Online are heralding a revolution, notably in the accounting sector. Developed by Intuit, this premier solution empowers companies to orchestrate their finances with unparalleled efficacy and agility. Total Accounting, a proud Platinum Partner with […]
