Read on for the latest accounting, tax & business news from TidyCloud
Spring Budget 2024
Chancellor Jeremy Hunt unveiled a “long-term growth” plan in the 2024 Spring Budget. Let’s delve deeper into the key announcements.
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Advisory fuel rates for company cars (March 2024)
New company car advisory fuel rates have been published and took effect from 1 March 2024.
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Pensions income needed to retire rises
The amount needed for a single person to have a moderate retirement has risen to £31,300, according to the Pensions and Lifetime Savings Association (PLSA).
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HMRC publishes guidance on MTD for ITSA for sole traders and landlords
HMRC has published new guidance on the Making Tax Digital for Income Tax Self Assessment (MTD for ITSA).
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Government in major U-turn on pick-up truck tax changes
Just a week after announcing it, HMRC has scrapped its plan to axe the benefit-in-kind ‘loophole’ for pick-ups.
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Artificial Intelligence will affect jobs and worsen inequality, says IMF
Artificial intelligence (AI) will affect almost 40% of all jobs around the world and deepen inequality, the International Monetary Fund (IMF) has warned.
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Raise VAT threshold to £100,000, says FSB
The government should raise the turnover threshold for VAT from £85,000 to £100,000, according to the Federation of Small Businesses (FSB).
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HMRC sends warning to cryptoasset users
As the use of cryptoassets continues to grow HMRC is warning people to check if they need to complete a self assessment tax return for the 2022/23 tax year to avoid potential penalties.
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Self Assessment Time to Pay Arrangements
As the deadline to submit a Self Assessment tax returns looms, nearly 44,800 people have sorted their tax bills by setting up a payment plan.
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