Tax Tips & News

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01/04/2023

April Tax Tips & News

Welcome to the Balfour Shaw Tax Tips & News monthly newsletter, bringing you the latest news to keep you one step ahead of the taxman.

If you need further assistance just let us know or send us a question for our Question and Answer Section.

We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice on your own specific circumstances. We’re here to help!

More time to pay missing National Insurance Contributions

In March we reminded you to check whether your national insurance contribution (NIC) record contains any gaps, and how this could affect entitlement to the state retirement pension. Read More...

Cleaning up your sales till

Electronic sales suppression (ESS) is the term for when a sales till is programmed to hide or reduce the value of individual sales. Read More...

Employment status of Associate Dentists

For years HMRC has accepted that associate dentists can be treated as self-employed rather than as employees of the dental practice they work for, but this informal agreement is about to end on 5 April 2023. Read More...

Electronic returns of benefits and expenses

In February 2022 HMRC suddenly withdrew the interactive online PDF form for reporting expenses and benefits for employees (form P11D). Employers were forced to submit their P11Ds electronically or go back to using paper P11D forms. Read More...

April Questions and Answers

Q. In his Spring Budget, the Chancellor said 'full expensing' would apply to plant and machinery. Does this mean I can write off the balance brought forward in my plant and machinery pool, which was previously written down at 18% on the reducing balance m Read More...

April key tax dates

5 - Last opportunity to utilise income tax personal allowances, annual ISA allowances, and exemptions for CGT and IHT for 2022/23. Last day to claim exemption from Class 4 NIC for 2022/23 where earnings are also subject to Class 1 NIC. Final day fo Read More...

About Us

Balfour Shaw Accountants are based in Fife, offering local business owners and individuals a wide range of services.

All clients are entitled to fixed fees, work delivered on time and unlimited phone support. Visit our website https://balfourshaw.co.uk for more information.

10 Buko Tower Southfield Glenrothes Fife KY6 2SS

Balfour Shaw is a trading name of Balfour Shaw