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08/10/2024 |
October Tax Tips and News
Welcome to Sephton’s monthly newsletter. Here, you’ll find all our latest tax tips as well as the news that’s affecting our clients. If you scroll down the page, you’ll see you have access to the complete archive too. We’re committed to making sure our clients receive useful advice and support throughout the year.
If you need further assistance though, please get in touch using the details on the ‘contact’ page. We’re happy to help.
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| Mounting speculation of Inheritance Tax changes to come |
| As speculation mounts that the new Government will soon make changes to raise more money for the Treasury via Inheritance Tax (IHT), it seems we're already set for the highest receipts on record this year. Read More... |
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| A new flat rate for pension tax relief? Budget changes expected |
| Amid the frequently repeated references to the £22bn 'blackhole' in the public finances and warnings from the Prime Minister of a 'painful' Autumn Budget, it would appear that tax relief on pensions may be another area the Government seeks out to raise mo Read More... |
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| Loophole for fund managers that chancellor called 'absurd' set to be closed |
| One area of potential tax reform that we know we should expect to hear more about on Budget day surrounds the tax treatment of 'carried interest'. Read More... |
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| Seasonal staff warning from HMRC |
| Many businesses across the UK have peaks and troughs in their trade, depending on the season. And some, as a result, have to take on more helping hands to cover the workload just during that particular spell. Read More... |
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| October Questions and Answers |
| I earn £62,000 and have been offered a bonus that would increase my total income to £95,000. How will this affect my tax, and are there any higher tax bands I should be aware of? Am I right that bonuses are taxed more than normal income Read More... |
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| October Key Dates |
| 5th - Self-Assessment Registration Deadline: if you've become self-employed or earned other untaxed income during the 2023-24 tax year, you must register for self-assessment by this date to avoid penalties. Read More... |
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| About Us |
Sephton Accountants are based in West Midlands, 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 sephton.co.uk for more information.
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Copyright © 2024 Sephton. All rights reserved.
Marston House
5 Elmdon Lane
Marston Green
Solihull B37 7DL
Sephton is a trading name of Sephton & Company LLP
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