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Welcome...
To April’s Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

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

We are 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!
April 2024
· Spring Finance Bill sets shape for tax changes to come
· Plans to close HMRC helpline for half a year halted
· Bumper IHT receipts set to be new record high
· Online live funerals receive VAT exemption
· April Questions and Answers
· April Key Dates
Spring Finance Bill sets shape for tax changes to come top
You‘ve probably digested the main news by now from the Spring Budget. Now comes the next stage:the Spring Finance Bill. The bill was published on 14 March, ensuring that the measures announced in the Budget take their next steps towards becoming reality. Read More
 
Plans to close HMRC helpline for half a year halted top
Bumper IHT receipts set to be new record high top
You may have seen somewhat of a furore breaking out in the media towards the end of the month, as HMRC announced its tax helpline would shut down for half of the year. Read More We‘ve seen plenty of speculation before the last two Budgets that Inheritance Tax would see major reforms. Yet nothing materialised. And the latest figures released by the Treasury show perhaps why there might be some reluctance to change the rules, with the amount of tax received hitting a record high. Read More
 
Online live funerals receive VAT exemption top
Funerals that are broadcast online for well-wishers unable to attend in person are becoming exempt from VAT. During the COVID pandemic, streaming  funerals became commonplace due to restrictions on the number of people gathering. Read More
 
April Questions and Answers top
April Key Dates top
Q: I’m a property owner, and I’m considering renting one of my houses out for people to use for vacations. What are the tax rules I need to understand? Answer

Q: I’m a self-employed electrician. I want to undertake some training to help me run my business, but it’s quite an expense. Is there any way I can claim back the costs of training? Answer

Q: I’m about to become a father in the next few months, with our baby arriving in late June. Am I entitled to any kind of Government help as a dad taking paternity leave? Answer
6th

- New tax year begins; new tax codes take effect.

6th

- Introduction of a new tax band (in Scotland only) named the Advanced rate.

6th

- High Income Child Benefit Charge (HICBC) threshold will rise.

6th

- Employee NICS cut from 10% to 8%; Self-employed NICS will go from 9% to 6%.

6th

- Property capital gains tax cut from 28% to 24%.

19th

- 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.

22nd

- 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 30 April.

30th

- Corporation Tax Returns are due for companies with year-end of 30 April.
 
Need Help? top
New Clients Welcome top
Please contact us if we can help you with these or any other tax or accounts matters.

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If you are not already a client and are interested in becoming one, we would love to come to meet with you to discuss how we can help and provide you with a competitive quote for our services.

All new client consultations are provided free of charge and without obligation.
 
About Us top
DMB Davies Accountants are based in Cardigan, Wales, 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 https://www.dmbdavies.co.uk for more information.
 

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