What is the 500T tax code?
The 500T tax code in the UK is a temporary, non-cumulative code used by HMRC when they lack information. (more…)
Continue readingWelcome to the Orchard Accountants blog. This is our hub of information where we will detail company developments as well as provide news and insight into the ever-changing world of finances and accounting. If you read something which strikes to your interest, and you’d like to learn more about a particular topic or service we provide, don’t hesitate to get in touch with us today.
Warning to all taxpayers – Pay your taxes on time amidst rising interest rates
As the deadline for paying any tax approaches, it is crucial you make your payments accurately and on time before it is too late. (more…)
Continue readingTrivial benefits in kind: A quick guide for employers
Making employees feel valued is critical for their morale, engagement, and overall well-being. Often, it's the smaller gestures that have the most significant impact on…
Continue readingTightening the reins on ‘side hustles’ – Navigating HMRC’s new powers
HM Revenue & Customs (HMRC) is now using new powers granted to them by the Government to target a key area of tax evasion –…
Continue readingImplications for businesses amid soaring pension tax relief
Recent statistics reveal a significant increase in the amount of annual pension tax relief, exceeding £50 billion for the first time. (more…)
Continue readingHMRC reminds restaurants and takeaways of VAT obligations on hot food
HM Revenue & Customs (HMRC) has recently issued letters to restaurant and takeaway businesses across the country, emphasising the importance of correctly applying VAT on…
Continue readingMaking Tax Digital for Income Tax – Government kills off confusing year-end statement
Designed to reduce the tax gap and simplify tax management for individuals and businesses, the Government’s Tax Administration Strategy is set to introduce Making Tax…
Continue readingR&D tax relief schemes to merge in 2024 – What it means for future claims
Chancellor Jeremy Hunt has announced a number of reforms to policies concerning businesses and innovation, in a bid to enhance growth in the economy. A…
Continue readingThe impact of Capital Gains Tax in estate planning
Capital Gains Tax (CGT) is one of those terms that often elicits a groan from private clients, but understanding its intricacies can be incredibly beneficial…
Continue readingWhat’s on the horizon for taxation?
Businesses are holding their breath as the upcoming Autumn Statement threatens to change the tax landscape of the UK. Chancellor of the Exchequer, Jeremy Hunt,…
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