Author: Lizzie Stevens BSc ACCA

changes for the new tax year 2024 2025

Welcome to the new tax year!

Content accurate as of 08 April 2024 As we embark on a new tax year, we have set out below important upcoming changes that you need to consider including the level at which to set your salary, the High Income Child Benefit Charge and the abolition of the Furnished Holiday Lettings regime. Company Directors –

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VAT Penalty Regime

New VAT Penalty Regime

For VAT periods starting on or after 01 January 2023 (This will only apply if you submit your returns late or pay late) At a glance You will receive points if a return is late or a payment is late.  This means if both are late the points will be doubled. The penalty for late

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