PAYE – references and deadlines
For employers paying electronically, the deadline for payments to reach HMRC is the 22nd of each month following the end of the tax month on the 5th. However, if the 22nd falls on a weekend or bank holiday, the payment deadline is brought forward to the previous working day. It is therefore essential to schedule […]
Furnished Holiday Lets – Update
Draft legislation was released in July 2024 that answers some questions on the tax changes for Furnished Holiday Let properties from April 2025. The proposed changes were discussed in our previous article. As anticipated, properties previously qualifying as Furnished Holiday Lets (FHL) will be taxed in line with long-term residential let properties from April 2025, […]
Cryptocurrency and Your Taxes: A Quick Guide
Cryptocurrency—it’s the buzzword that has been popping up everywhere, but what is it exactly? And more importantly, how does it affect your taxes? Think of cryptocurrency like digital cash that exists only online. Unlike regular money, cryptocurrencies like Bitcoin and Ethereum run on a decentralised network called blockchain, which keeps everything secure and transparent. It […]
The importance of the P46 (Car) Form
A P46 (Car) form must be submitted to HMRC under the following circumstances: A company car has been provided A company car has been withdrawn An additional car has been provided Reporting This form can be submitted to HMRC via: Online form to be printed and posted to HM Revenue and Customs, PAYE and SA, […]
Electric Cars – What should you be considering?
Company cars are one of the most common taxable benefits provided by employers but the high P11D benefits arising on petrol and diesel cars have made them a less attractive employee incentive in recent years. The tax treatment of company-owned electric cars is much more favourable although there are various areas for consideration which may […]
Kilsby Williams announces charity of the year
Tax and accountancy specialist Kilsby Williams has announced that it will be supporting Calon Hearts as its charity of the year. Calon Hearts is a Cardiff-based charity which promotes heart health in Wales and across the UK. Less than one in ten people survive an out of hospital cardiac arrest but survival rates can be […]
New appointments strengthen audit and accountancy team at independent firm
Channa Wijesekera joins Kilsby Williams from one of the ‘Big Four’ global accounting firms and will use his external audit, internal audit and special assignments experience to support the firm’s audit specialists as a senior. Channa said: “I am very grateful to all the Partners of Kilsby Williams for the opportunity given to me. It […]
Changes to the taxation of non-UK doms – an update
While she was speaking, her colleagues at the Treasury published a policy paper providing an update on the planned changes to the UK’s taxation of so-called non-doms. As a reminder, the remittance basis of taxation currently gives UK tax resident non-doms (i.e. individuals living in the UK but who have not decided to live here […]
The VAT is out of the (school) bag
Since coming to power there has been much debate on how and when the exemption would be removed. On 29 July the Chancellor Rachel Reeves made a statement to parliament and the Treasury published draft legislation to finally let the cat out of the bag on this. The key elements of the changes are as […]
The General Election – more than just words
After all the predictions and hype, Rishi Sunak stood in the rain in Downing Street and asked us to decide our future on 4 July. There have been many words spoken and written since then and, as the tit-for-tat campaigns plough on, the polls continue to indicate that we will wake up on 5 July […]
