In April the new tax year will bring a number of changes that will impact on those businesses. Here we outline the key measures that will take effect from April 2023. Income tax rates At the Mini Budget in September, the government announced a plan to abolish the 45% additional rate of income tax from… Continue reading Hot Topic – What’s new in 2023?
For VAT accounting periods starting on or after 1 January 2023 there are new penalties for VAT returns that are submitted late and interest on VAT that is paid late. HMRC have now changed to a points based system for submission of late returns – similar to driving penalty points, the more times you are… Continue reading Changes to VAT penalties and interest
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